Microsoft Word - App3y - George Sakalidis - 3 January 2014.doc 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

GEORGE SAKALIDIS

Date of last notice

9 December 2013

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

Direct

Nature of indirect interest

(including registered holder)

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

N/a

Date of change

24 December 2013

No. of securities held prior to change

5,355,125 fully paid ordinary shares

3,076,113 partly paid fully participating contributory shares issued at $0.00 with

$0.20 payable.

800,000 options to acquire fully paid ordinary shares exercisable on or before

23.12.2014 at $0.2709 each.

800,000 options to acquire fully paid ordinary shares exercisable on or before

21.12.2015 at $0.4607 each.

800,000 options to acquire fully paid ordinary shares exercisable on or before

27.12.2016 at $0.1499 each

Class

Options

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director's Interest Notice

Number acquired

1,500,000 options exercisable at 50% premium to the 5 day VWAP prior to issue, on or before 31 December 2017.

750,000 options exercisable at $0.2709 on or before 23 December 2014

Number disposed

Nil

Value/Consideration

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

Nil

No. of securities held after change

5,355,125 fully paid ordinary shares

3,076,113 partly paid fully participating contributory shares issued at $0.00 with

$0.20 payable.

1,550,000 options to acquire fully paid ordinary shares exercisable on or before

23.12.2014 at $0.2709 each.

800,000 options to acquire fully paid ordinary shares exercisable on or before

21.12.2015 at $0.4607 each.

800,000 options to acquire fully paid ordinary shares exercisable on or before

27.12.2016 at $0.1499 each.

1,500,000 options exercisable at 50% premium to the 5 day VWAP prior to issue, on or before 31 December 2017.

Nature of change

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

As approved by shareholders at the 2013

AGM

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

+ 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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