Mount Gibson Iron : Appointment of CFO and COO

Mount Gibson Iron Limited

ABN 87 008 670 817

Level 1, 2 Kings Park Road West Perth, 6005, Western Australia

PO Box 55, West Perth, WA, 6872

Telephone: 61-8-9426-7500

Facsimile: 61-8-9485 2305 E-mail:admin@mtgibsoniron.com.au

VIA:WWW.ASXONLINE.COM

ASX ANNOUNCEMENT

ASX Code : MGX

19 October 2018

Mount Gibson Announces CFO and COO Appointments

Mount Gibson Iron Limited (Mount Gibson or the Company) is pleased to announce the appointment of two new senior management personnel following the recent commencement of former Chief Financial Officer Peter Kerr as Chief Executive Officer of the Company.

Gillian Dobson will move to the role of Chief Financial Officer and Scott de Kruijff will take on the role of Chief Operating Officer. Both appointments are from within the organisation and involve individuals who already have a detailed understanding of the operations and commercial activities of the Company. The appointments have immediate effect.

Ms Dobson is a highly experienced accountant and has been Group Commercial Manager at Mount Gibson since 2013, during which time she has been responsible for cost reduction initiatives and a variety of commercial matters, including detailed involvement in the Company's successful Koolan Island seawall insurance claim. After qualifying as a member of the Institute of Chartered Accountants in Australia, Ms Dobson spent over 10 years in the UK with leading accounting firms. Since returning to Perth she has gained over 15 years' commercial experience in the resources industry, with past senior management roles at HWE Mining and Brandrill Ltd.

Mr de Kruijff has been Mount Gibson's General Manager Operations since 2015, and initially joined the Company as General Manager of Koolan Island in 2013. A civil engineer, Mr de Kruijff has over 30 years' experience in the mining industry including senior operational management roles across a range of commodities including large-scale iron ore, diamond and salt producing operations.

Mount Gibson Chief Executive Officer Mr Peter Kerr said: "On behalf of the Mount Gibson team, I congratulate Ms Dobson and Mr de Kruijff on their appointments and look forward to continuing to work closely with them and the rest of the Mount Gibson team as the business continues to evolve."

"That Mount Gibson has been able to promote such respected and experienced individuals from within the business speaks volumes of the Company's professional culture, and also ensures continuity as we transition from our Mid West operations to our high-grade Koolan Island mine in the Kimberley and seek out new opportunities across the resources sector."

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