MGX RESOURCES LIMITED — Major Shareholding Notification 2007

Mar 1, 2007

Form 605 Corporations Act 2001
Section 871B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	Mount Gibson fron Limited
ACN/ARSN	008 670 817
Details of substantial holder (1) 1.
Name ACN/ARSN (if applicable)	Shougang Holding (Hong Kong) Limited (Shougang Holding)
The holder caased to be a substantial holder on The previous notice was given to the company on The previous notice was dated	28/02/07 14/02/07 13/02/07

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the aubstantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of shape(4)	Consideration given in relation to change $(5)$	Class (6) and number of securities aftected	Person's votes affected
28/02/07	Shougang Holding	Shougang Holding's relevant linterest in APAC Resources Limited (APAC), due to its iholding of more than 20% of APAC (s 608(3)(a)), ceased by reason of the dilutive impact of APAC Issuing further shares to third parties.	Not applicable	Shougang Holding's entire relevant linterest in 149.583.521 jordinary shares was affected by the lchange.	1149.583.521

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

. DilC 3 . . Name . and TOIL. $-$ - $ -$ σι	i association NETI DТ .
_____	__
	_________

4 Addresses

The addresses of persons named in this form are as follows:

Name	Address
Shougang Holding (Hong Kong) Limited	7th Floor, Bank of East Asia Harbour View Centre, 56 Gloucester Road, Wanchai, Hong Kong
APAC Resources Limited	Rooms 2808-10, 28 th Floor, 71 Des Voeux Road Central, Hong Kong

Signature
	print name	Cao Zhong - سا	capacity	Director
	sign here		date	02/03/2007
		. .