MINERAL RESOURCES LIMITED — M&A Activity 2009

Nov 16, 2009

MINERAL RESOURCES LIMITED (ACN 118 549 910)

NOTICE REGARDING THE FULFILMENT OF CONDITION OF OPTION OFFER

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

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

3. The Australian Securities Exchange.

Mineral Resources Limited (ACN 118 549 910) (MRL) gives notice for the purposes of Section 630(4) of the Corporations Act that:

• (a) on 11 November 2009, MRL declared the Share Offer, and any takeover contract formed by acceptance of the Share Offer, free from all the conditions set out in Section 1.10(a) of Annexure A of the Bidder’s Statement; and

• (b) accordingly, the condition to the Option Offer set out in Section 1.7(a)((ii) of Annexure B of the Bidder’s Statement (Share Offer unconditional) is fulfilled.

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

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Bruce Goulds

Company Secretary

Dated: 16 November 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.