MGX RESOURCES LIMITED — Merger & Acquisition 2006

Sep 18, 2006

Mount Gibson Iron Limited

First Floor, 7 Havelock Street West Perth 6005, Western Australia

ABN 87 008 670 817

PO Box 55, West Perth WA 6872

Telephone: 61-8-9426-7500 Facsimile: 61-8-9485 2305 E-mail: admin@mtgibsoniron.com.au

18 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 6 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 15.53% Aztec Shares.

Yours faithfully MOUNT GIBSON IRON LIMITED

Jakin

Luke Tonkin Director

enc

Mount Gibson Iron Limited ACN 008 670 817 Company notice – subsection 650D(1) Corporations Act 2001 (Cth) Notice of variation – extension of offer period

To: Australian Securities and Investments Commission (ASIC): Aztec Resources Limited ACN 078 548 562 (Aztec); and Each person to whom offers were made under the takeover bid referred to in this notice.

Extension of Offer

Mount Gibson Iron Limited (Mount Gibson) gives notice under section 650D(1) of the Corporations Act 2001 (Cth) that:

• it varies its takeover offer dated 28 August 2006 (Offer) for all of the fully paid ordinary $\mathbf{1}$ . shares in the capital of Aztec, including those issued during the offer period which is contained in its bidder's statement dated 11 August 2006 (Bidder's Statement) by extending the period during which the Offer will remain open so that the Offer will now close at 5.00pm (Perth, Western Australia time) on 6 October 2006; and
• $\overline{2}$ . the Offer is varied by:
• replacing "29 September 2006" with "6 October 2006" in section 12.2(a) of the $(a)$ Bidder's Statement: and
• replacing "21 September 2006" with "28 September 2006" in section 12.12 of the (b) Bidder's Statement.

Lodgement with ASIC

A copy of this notice was lodged with ASIC on 18 September 2006. ASIC takes no responsibility for the contents of this notice.

Date: 18 September 2006

Signed for and on behalf of Mount Gibson pursuant to a resolution passed by the directors of Mount Gibson

Jonkin

M.

Luke Tonkin Director

Alan Rule Director

Mount Gibson Iron Limited ACN 008 670 817 Company notice – paragraph 630(2)(b) Corporations Act 2001 (Cth) New date for giving the notice of the status of conditions

To: Aztec Resources Limited ACN 078 548 562 (Aztec); and Australian Stock Exchange Limited

For the purposes of paragraph $630(2)(b)$ of the Corporations Act 2001, Mount Gibson Iron Limited (Mount Gibson) gives notice that:

• $\mathbf{1}$ . the offer period relating to the offer by Mount Gibson for all of the fully paid ordinary shares in Aztec, including those issued during the offer period (Offer), which Offer is contained in a bidder's statement dated 11 August 2006 (Bidder's Statement), has been extended so that it is now scheduled to close at 5.00pm (Perth, Western Australia time) on 6 October 2006:
• $\overline{2}$ . the new date for giving notice of the status of the conditions to the Offer, as required by subsection 630(3) of the Corporations Act 2001, is 28 September 2006; and
• 1. as at the date of this notice:
• Mount Gibson has freed the Offer from the condition set out in clause $12.1(j)$ $(a)$ (share price decline condition) of its Bidder's Statement; and
• (b) so far as Mount Gibson is aware, with the exception of the condition in clause 12.8(a) (Foreign Investment Review Board approval) of its Bidder's Statement, no other conditions have been fulfilled.

Date: 18 September 2006