MINERAL RESOURCES LIMITED — M&A Activity 2009

Dec 7, 2009

ACN 118 549 910

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8 December 2009

Company Announcements Office ASX Limited Exchange Centre 4[th] Floor, 20 Bridge Street SYDNEY NSW 2000

By E-Lodgement

Dear Sir / Madam,

Mineral Resources Limited to extend Share Offer Period for Polaris Metals NL (ASX:POL)

The Board of Mineral Resources Limited (MRL) (ASX:MIN) has today resolved to extend the period of its Share Offer by 1 week so that the Share Offer will now close at 5.00pm (WST/Perth time) on 16 December 2009 (unless further extended or withdrawn).

The Company will provide Polaris Share holders who have not accepted the Share Offer with a formal Notice of Variation of Takeover Offers (see attached). The Company will also be releasing as soon as practicable a Seventh Supplementary Bidder’s Statement relating, amongst other things, to the above changes to its Share Offer.

For the purposes of ASX Listing Rule 3.2, MRL confirms that in respect of the Share Offer:

• (a) at the date of the Share Offer, MRL (together with its associates) had a relevant interest in 0% of Polaris’ Shares;

(b) at the date of this Share Offer extension, MRL (together with its associates) has a relevant interest in 40.20% of Polaris’ Shares.

Yours Sincerely,

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Bruce Goulds

Company Secretary

M I N E R AL R E SO U RC ES L IM IT E D ( A C N 1 1 8 5 4 9 9 1 0 )

N O T IC E OF V A R I AT IO N OF T A K EO V E R OF F E R S

To: 1. Polaris Metals NL (ACN 085 223 570) (Polaris).

1. The Australian Securities and Investments Commission (ASIC).

2. Persons to whom MRL made Offers dated 23 September 2009 under the takeover bid referred to in this notice and have not accepted any Offer.

3. ASX Limited (ASX).

1. EXTENSION OF SHARE OFFER PERIOD

MRL gives notice under section 650D(1) of the Corporations Act that it varies the Share Offer by extending the Share Offer Period set out in Section 1.3 of Annexure A of the Bidder’s Statement so that the Share Offer now ends at 5.00pm (WST/Perth time) on 16 December 2009 (unless further extended or withdrawn).

All references in the Bidder’s Statement to the Share Offer Period and the closing date of the Share Offer are varied accordingly.

Unless the context requires otherwise, defined terms in the Bidder’s Statement have the same meaning in this notice.

Approved by a unanimous resolution passed by the directors of Mineral Resources Limited.

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Bruce Goulds

Company Secretary

Dated: 8 December 2009

A copy of this notice was lodged with ASIC on the date set out above. Neither the ASIC nor any of its officers takes any responsibility for the contents of this notice.