MGX RESOURCES LIMITED — Capital/Financing Update 2015

Feb 15, 2015

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Mount Gibson Iron Limited

ABN 87 008 670 817

Level 1, 2 Kings Park Road West Perth 6005, Western Australia PO Box 55, West Perth WA 6872 Telephone: 61-8-9426-7500 Facsimile: 61-8-9485 2305 E-mail: admin@mtgibsoniron.com.au

VIA: WWW.ASXONLINE.COM

ASX ANNOUNCEMENT

ASX Code : MGX

16 February 2015

Increase in FY2015 ore sales guidance

Mount Gibson Iron Limited ( Mount Gibson ) advises that it has successfully secured additional rail haulage contract capacity from its Extension Hill iron ore mine in the Mid West.

This change effectively increases Extension Hill’s nominal annual export capacity by approximately 17% to 3.5 million tonnes, with the addition of an extra train path from the Perenjori rail siding commencing 15 February 2015.

As a consequence, Mount Gibson anticipates it will export an additional 0.2 million tonnes of ore from Extension Hill in the 2015 financial year.

This necessitates a further increase in the Company’s ore sales guidance to 5.0 - 5.4 million tonnes for the current financial year.

The increase in export capacity from Extension Hill will also enable a further incremental improvement in unit costs, complimenting the Company’s ongoing cost reduction and efficiency improvement programme.

Mount Gibson will be in a position to provide more detail on achieved cost savings and expected cost profile when it releases its interim results for the December 2014 half on 17 February 2015.

For further information:

Jim Beyer

Chief Executive Officer Mount Gibson Iron Limited +61-8-9426-7500

John Phaceas

Manager External Relations Mount Gibson Iron Limited +61-8-9426-7500

Alan Deans

Last Word Corporate Communications +61 (0)427 490 992

www.mtgibsoniron.com.au