Microsoft Word - App3y - Gavin Fletcher - 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

GAVIN FLETCHER

Date of last notice

21 August 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

Indirect

Nature of indirect interest

(including registered holder)

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

Abacot Investments (ATF Fletcher

Superannuation Fund)

Date of change

24 December 2013

No. of securities held prior to change

Metassist Pty Ltd

3,542,074 shares

1,764,286 options exercisable at $0.1499 on or before 27 December 2016

750,000 partly paid shares (MAUCA)

Gavin Fletcher

30,000 shares

Class

Options

Number acquired

2,000,000 options exercisable at 50% premium to the 5 day VWAP prior to issue, on or before 31 December 2017.

1,000,000 options exercisable at $0.2709 on or before 23 December 2014

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director's Interest Notice

Number disposed

Nil

Value/Consideration

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

Nil

No. of securities held after change

Metassist Pty Ltd

3,542,074 shares

1,764,286 options exercisable at $0.1499 on or before 27 December 2016

750,000 partly paid shares (MAUCA)

Gavin Fletcher

30,000 shares

Abacot Investments

2,000,000 options exercisable at 50% premium to the 5 day VWAP prior to issue, on or before 31 December 2017.

1,000,000 options exercisable at $0.2709 on or before 23 December 2014

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

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

+ 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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