MINERAL RESOURCES LIMITED — M&A Activity 2009

Oct 14, 2009

ACN 118 549 910

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15 October 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 increased Share Offer and extension of Offer periods for Polaris Metals NL (ASX:POL)

Further to the previous announcement released by Mineral Resources Limited (MRL) (ASX:MIN), MRL now attaches the following formal documents required to give effect to the above changes to its Offers for all of the shares and options in Polaris Metals NL (Polaris) (ASX:POL):

• (a) Notice to Free Offer from Condition (Share Offer); and

• (b) Notice of Variation of Takeover Offers.

These Notices have today been lodged with the Australian Securities and Investments Commission and served on Polaris. The Notice of Variation of Takeover Offers will be sent to each person to whom the Offers were made.

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

• (a) at the date of the Offer, MRL (together with its associates) had a relevant interest in 19.9% of Polaris’ ordinary shares;

• (b) at the date of this Offer extension, MRL (together with its associates) has a relevant interest in 29.19% of Polaris’ ordinary shares.

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

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

(b) at the date of this Offer extension, MRL (together with its associates) has a relevant interest in 27.35% of Polaris’ options.

Yours Sincerely,

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Bruce Goulds

Company Secretary