MGX RESOURCES LIMITED — Director's Dealing 2005

Oct 26, 2005

VIA: WWW.ASX.ONLINE.COM

Mount Gibson Iron Limited ABN 87 008 670 817

First Floor, 7 Havelock Street 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

27 October 2005

No. Pages $= 1$

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

SUBJECT: Luke Tonkin - Appendix 3X

Please find attached an Appendix 3X for Mr Luke Tonkin who commenced as Managing Director of Mount Gibson Iron Limited on Monday 24 October 2005.

Details of Mr Tonkin's appointment were announced on 5 August 2005.

Yours sincerely, MOUNT GIBSON IRON LIMITED

62

Angela Dent Company Secretary

Appendix 3X

Rule 3.19A.1

Initial 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.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Luke Tonkin
Date of appointment	24 October 2005

Part 1 - Director's relevant interests in securities of which the director is the registered holder

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

Number & class of securities NIL.

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

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

Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest.	Number & class of Securities
	NII

⁺ See chapter 19 for defined terms.

Part 3 - Director's interests in contracts

Detail of contract	NIL
Nature of interest	NIL
Name of registered holder (if issued securities)	NIL
No. and class of securities to which interest relates	NIL

⁺ See chapter 19 for defined terms.