MGX RESOURCES LIMITED — M&A Activity 2006

Sep 27, 2006

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

28 September 2006

Company Announcements Office Australian Stock Exchange Limited 20 Bridge Street SYDNEY NSW 2000

Dear Sir / Madam

Takeover bid by Mount Gibson Iron Limited for Aztec Resources Limited Extension of offer period

We attach the following documents:

• a notice of variation pursuant to section 650D(1)(c)(i) of the Corporations Act 2001 (Cth) $\bullet$ which was lodged with ASIC and sent to Aztec Resources Limited (Aztec) today, extending the closing date of Mount Gibson Iron Limited's (Mount Gibson) offers made under its offmarket takeover bid (Offers) for all the fully paid ordinary shares in the capital of Aztec. including those issued during the offer period (Aztec Shares) to 5.00pm (Perth, Western Australia time) on 13 October 2006; and
• a notice under section 630(2)(b) of the Corporations Act 2001 (Cth) confirming the new date $\bullet$ for giving notice of the status of defeating conditions.

For the purposes of ASX Listing Rule 3.2:

• Mount Gibson had a relevant interest in 15.25% Aztec Shares when the first of the Offers was made: and
• at the time of giving this notice, Mount Gibson has a relevant interest in 32.34% Aztec Shares. $\bullet$

Yours faithfully MOUNT GIBSON IRON LIMITED

Jakin

Luke Tonkin Director

enc