MINERAL RESOURCES LIMITED — M&A Activity 2009

Oct 5, 2009

ACN 118 549 910

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6 October 2009

Advisor, Issuers Australian Stock Exchange Limited GPO Box D187 Perth WA 6840

Dear Sir / Madam,

Polaris Directors Accept Mineral Resources Takeover Offers

Mineral Resources Limited (ASX:MIN) (“Mineral Resources”) confirms that, as of close of business on Monday, 5 October 2009,in accordance with their publicly stated intentions in the Target Statement, each of the directors of Polaris Metals NL (“Polaris”) (ASX:POL) have accepted the takeover offers by Mineral Resources in respect of all the Polaris shares and options which they hold or control.

Mineral Resources has a relevant interest in 26.69% of Polaris shares and 27.35% of Polaris options.

The Mineral Resources’ offer is scheduled to close on 26 October 2009, unless extended.

Yours Sincerely,

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Bruce Goulds

Company Secretary