Change of Director's Interest Appendix 3Y Change of Director's Interest Notice Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2

Information or documents not available now must be given to ASX as soon as available. Information and

documents given to ASX become ASX's property and may be made public.


Introduced 30/09/01 Amended 01/01/11

Name of entity MAGNETIC RESOURCES NL

ABN 34 121 370 232

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director

JOHN BLANNING

Date of last notice

18 OCTOBER 2014

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest

Indirect

Nature of indirect interest

(including registered holder)

Note: Provide details of the circumstances giving rise to the relevant interest.

L.M Blanning and J.B. Blanning ATF The

Blanning SuperFund

Date of change

23 and 24 February 2015

No. of securities held prior to change

3,574,429 FULLY PAID ORDINARY SHARES

1,764,286 OPTIONS EXERCISABLE AT

$0.1499 ON OR BEFORE 27

DECEMBER 2016

750,000 CONTRIBUTING SHARES

Class

Shares

Number acquired

23/2 - 100,000 shares

23/3 - 60,000 shares

24/2 - 105,000 shares

Number disposed

Nil

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director's Interest Notice

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

$0.0782

$0.08

$0.083

per share for share

No. of securities held after change

John Blanning

3,574,429 FULLY PAID ORDINARY SHARES

1,764,286 OPTIONS EXERCISABLE AT

$0.1499 ON OR BEFORE 27

DECEMBER 2016

750,000 CONTRIBUTING SHARES

Superfund

265,000 SHARES

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

On-market purchase

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract

N/a

Nature of interest

N/a

Name of registered holder

(if issued securities)

N/a

Date of change

N/a

No. and class of securities to which interest related prior to change

Note: Details are only required for a contract in relation

to which the interest has changed

N/a

Interest acquired

N/a

Interest disposed

N/a

+ See chapter 19 for defined terms.

Appendix 3Y Page 2 01/01/2011

Part 3 - +Closed period Appendix 3Y Change of Director's Interest Notice

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written

clearance was required?

N/a

If so, was prior written clearance provided to allow the trade to proceed during this period?

N/a

If prior written clearance was provided, on what date was this provided?

N/a

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

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