MINERAL RESOURCES AS AT 30 JUNE 2007 (ABOVE 50% Fe)

Tallering Peak

Extension Hill

Koolan Island

The information in this report relating to Mineral Resources at Tallering Peak and Extension Hill is based on information compiled by Rolf Forster, who is a member of the Australasian Institute of Mining and Metallurgy.

The information in this report relating to Mineral Resources at Koolan Island is based on information compiled by Chris Arnold (CPGeo), principle of Chris Arnold Resource Consultants. Chris Arnold is a Member of the Australasian Institute of Mining and Metallurgy.

Rolf Forster and Chris Arnold are consultants to Mount Gibson Mining Limited, and have sufficient experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity which they are undertaking, to each qualify as a Competent Person as defined in the December 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".

Rolf Forster and Chris Arnold have consented to the inclusion of the matters in this report based on their information in the form and context in which it appears.

MINING RESERVES AS AT 30 JUNE 2007

Tallering Peak

Extension Hill

Koolan Island

The information in this report relating to Ore Reserves is based on information compiled by Rolf Forster and Weifeng Li, who are both members of the Australasian Institute of Mining and Metallurgy.

Rolf Forster and Weifeng Li are consultants to Mount Gibson Mining Limited, and have sufficient experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity which they are undertaking, to each qualify as a Competent Person as defined in the December 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".

Rolf Forster and Weifeng Li have consented to the inclusion of the matters in this report based on their information in the form and context in which it appears.