MGX RESOURCES LIMITED — Director's Dealing 2007

May 3, 2007

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	Neil Hamilton
Date of appointment	24 April 2007

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
NII

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
Australian Executive Trustees Beneficiary	120,000 ordinary shares
Hopu Pty Ltd $\leq$ HDET A/ $c$ > Director of trustee company and contingent beneficiary	65,000 ordinary shares

⁺ 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.