MGX RESOURCES LIMITED — Director's Dealing 2004

Jul 26, 2004

VIA: WWW.ASX.ONLINE.COM

27 July 2004

Mount Gibson Iron Limited

First Floor, 7 Havelock Street West Perth 6005, Western Australia

ARN 87 008 670 817

PO Box 55, West Perth WA 6872

Telephone: 61-8-9485 2355 Facsimile: 61-8-9485 2305 E-mail: admin@mtgibsoniron.com.au

No. Pages $=$ 9

The Manager Company Announcements Australian Stock Exchange Limited Level 10, 20 Bond Street SYDNEY NSW 2000

SUBJECT: CHANGE IN DIRECTORS SHAREHOLDINGS

Attached are Appendix 3Y's updating the relevant interests of all Directors in Shares and Options of the Company following the issue of Options approved by Shareholders on 3 May 2004. The Appendix 3B in relation to this issue was lodged with ASX on 30 June 2004, the delay in providing the attached details has been administrative.

Yours sincerely, MOUNT GIBSON IRON LIMITED

Angela Dent Company Secretary

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	MOUNT GIBSON IRON LIMITED
ABN	87 008 670 817

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	William B Willis
Date of last notice	14 August 2002

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct $\mathbb{L}$
	Indirect 2.
Nature of indirect interest	William B Willis <cameron wallacea).
(including registered holder)	A/c
Note: Provide details of the circumstances giving rise to the relevant inferest	b) William B Willis $\langle$ Jake Willis A/c $\rangle$
	William B Willis <trey A/c> c).
	William B Willis and Rhonda M Willis d).
	$\le$ Willis Super Fund A/c $\ge$
Date of change	3 June 2004
No. of securities held prior to change	1: A. 180,000
	2a) A. 40,000 b) A. $40,000$
	c) A. $40,000$
Class	A. ordinary shares
	B. options exercisable at 22 cents on or
	before 15/10/05
Number acquired	1: B. 20,000
	2d): B. 1,420,000
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated	Nil
valuation

⁺ See chapter 19 for defined terms.

No. of securities held after change	1: A. 180,000 B. 20.000 2a): A. 40,000 2b) A. 40,000 2c) A. 40,000
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	2d) B. 1,420,000 Issue of options to Directors and senior executives as approved by Shareholders 03 May 2004

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

$+$ See chapter 19 for defined terms.

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	MOUNT GIBSON IRON LIMITED
ABN	87 008 670 817

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Brian Godfrey Johnson
Date of last notice	26 March 2002

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	3 June 2004
No. of securities held prior to change	Nil
Class	Options exerciseable at 22 cents on or before 15 October 2005
Number acquired	3,960,000
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	3,960,000

⁺ See chapter 19 for defined terms.

Nature of change	Issue of options to Directors and senior
Example: on-market trade, off-market trade, exercise of options, issue of	executives as approved by Shareholders 03
securities under dividend reinvestment plan, participation in buy-back	May 2004

Note: In the case of a company, interests which come within paragraph (ii) of the definition of 'notifiable interest of a director'' should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

$+$ See chapter 19 for defined terms.

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	MOUNT GIBSON IRON LIMITED
ABN	87 008 670 817

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Craig Leslie Readhead
Date of last notice	14 August 2002

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	1. Direct
	2. Indirect
Nature of indirect interest	Hengolo Pty Ltd
(including registered holder)	(of which Mr Readhead is a Director and
Note: Provide details of the circumstances giving rise to the relevant inferest.	shareholder)
Date of change	3 June 2004
No. of securities held prior to change	2. A. 177,500
Class	A. ordinary shares
	B. options exerciseable at 22 cents on or
	before 15 October 2005
Number acquired	1. B. 10,000
	2. B. 710,000
Number disposed
Value/Consideration	Nil
Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change	1. B: 10,000
	2. A: 177,500
	B: 710,000

⁺ See chapter 19 for defined terms.

Nature of change	Issue of options to Directors and senior
Example: on-market trade, off-market trade, exercise of options, issue of	executives as approved by Shareholders 3
securities under dividend reinvestment plan, participation in buy-back-	May 2004

Note: In the case of a company, interests which come within paragraph (ii) of the definition of 'notifiable interest of a director'' should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

$+$ See chapter 19 for defined terms.

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	MOUNT GIBSON IRON LIMITED
ABN	87 008 670 817

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Ian Alexander Macliver
Date of last notice	14 August 2002

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be

disclosed in this part.
Direct or indirect interest	1. Direct
	2. Indirect
Nature of indirect interest	a) Cornela Pty Ltd
(including registered holder)	b) Grange Consulting Group Pty Ltd
Note: Provide details of the circumstances giving rise to the relevant interest.	c) Daybreak Nominees Pty Ltd
	(of which Mr Macliver is a Director and
	shareholder)
Date of change	3 June 2004
No. of securities held prior to change	2a) A: 833,334
	B: 694.444
	2b) A: 248,332
Class	A. ordinary shares
	B, unlisted options exercisable on or before
	28 February 2006 at 15.84 cents
	options exercisable at 22 cents on or C.
	before 15 October 2005
Number acquired	1. C: 10,000
	2a) C: 720,000
	2b) C: 10,000
	2e) C: 10,000
Number disposed	Nil
Value/Consideration	Nil
Note: If consideration is non-cash, provide details and estimated valuation

⁺ See chapter 19 for defined terms.

No. of securities held after change	1. C: 10,000 2a) A:833,334 B: 694,444 C: 720,000 2b) A: 248,332 C:10,000 2e) C: 10,000
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	2d) C: 10,000 Issue of options to Directors and senior executives as approved by Shareholders 3 May 2004

Note: In the case of a company, interests which come within paragraph (ii) of the definition of 'notifiable interest of a director'' should be

сименомен ни низ ран.
Detail of contract
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

$+$ See chapter 19 for defined terms.