MGX RESOURCES LIMITED — Director's Dealing 2007

Feb 27, 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.
MOUNT GIBSON IRON LIMITED Name of entity
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	Peter Ross Bilbe
Date of appointment	21 February 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

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
PR & JC Bilbe Superannuation Fund Of which Mr Bilbe is a Trustee	52,033 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.