MINDAX LIMITED — Board/Management Information 2014

Apr 30, 2014

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REORGANISATION OF COMPANY ACTIVITIES

ASX ANNOUNCEMENT

1 May 2014

ASX Code: MDX

ABN: 28 106 866 442

Corporate Description

Mindax's Mt Forrest Iron Project is progressing through feasibility with a view to mining in 2015.

Mindax is also the greenfields discoverer of a new uranium province near Mukinbudin, Western Australia.

Mindax also has exploration projects based in Western Australia which involve Gold and Copper.

Through technically advanced exploration and an eye for detail, Mindax has successfully built a significant portfolio of 20 mineral exploration and mining tenements covering over 1,280 square kilometres. In addition, Mindax has tenure in place for water and infrastructure covering over 2,400 square kilometres in support of the Mt Forrest Iron Project development.

Mindax aims to develop strategic resources through innovative exploration. Projects will be moved to production including via strategic partnerships.

Key Projects

Mt ForrestIron
Yilgarn-Avon JVSedimentary Uranium
Mortlock JVCopper-GoldMeekatharra JVGold
Principal Address and Registered OfficeLevel 2, 25 Richardson Street
West Perth WA 6005
Telephone:+61 8 9485 2600
Facsimile:+61 8 9485 2500Email:info@mindax.com.au

Investor Enquiries	Investor Enquiries
Steve Ward
Managing Director and Chief Executive Officer
Telephone:	+61 8 9485 2600
Email:	info@mindax.com.au
Media EnquiriesDavid UttingMobile:	+61 416 187 462
Email:	david@davidutting.com

Mindax Ltd ( Mindax or the Company ) wishes to advise of plans to reorganise Company activities. These changes are designed to streamline activities and minimise costs whilst preserving key projects in response to a period of very challenging economic conditions and uncertainty for junior explorers and project developers such as Mindax. The reorganization will include reducing the size of the Board from six to four, and it is envisaged that the restructuring program will be completed by the end of May 2014.

Mr Gilbert George has advised that after almost ten years as Founding Chairman, he will retire effective May 31, and the Board has agreed to appoint current director Mr Benjamin Chow AO as Chairman effective from 1 June.

Managing Director and CEO Dr Steve Ward has agreed to step down and leave the company with effect from 31 May 2014. Other existing directors will continue as Board members. Most Perth based staff including Mr. Chris Pougnault current CFO and Company Secretary will leave the Company. Mr John Vinar’s current role as General Manager Exploration will cease. Mr Vinar has agreed to act as a consultant to Mindax and provide certain technical and project services as required. He will be Mindax’s technical and project representative in Western Australia and report to the Mindax Board.

Details of a replacement Company Secretary will be announced before 31 May 2014.

The planned changes have the full support of Mindax’s largest shareholders.

Discussions with Perpetual Mining Holding Limited (PMHL) regarding the Mt Forrest iron project will continue once PMHL has completed a review of the project which it has undertaken in April.

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MINDAX LIMITED | www.mindax.com.au

ASX Announcement Reorganisation of Company activities 1 May 2014

Interest from third parties for the Copper and Uranium projects is also being sought.

Chairman Mr Gilbert George commented “I would like to pay tribute to Steve Ward and other staff members who are leaving the Company and thank them for their substantial contributions. We wish them well in their future endeavours. We hope all our shareholders understand the necessity of these actions and continue to support the Company”.

End of Announcement

For further information contact: Media: Steve Ward, Managing Director David Utting Mindax Limited David Utting Corporate Telephone: +61 8 9485 2600 Telephone: +61 416 187 462

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MINDAX LIMITED | www.mindax.com.au