AZR Aztec Res.

RNS Number:1926O
Aztec Resources Limited
19 December 2006



Aztec Resources Limited ("Aztec" or "the Company")

19 December 2006

Update re takeover

Aztec has yesterday issued a joint announcement with Mount Gibson Iron Ltd to the
Australian Stock Exchange, the content of which is set out below.

Copies of the joint announcement are available on the ASX website www.asx.com.au.

For further information please contact:
Aztec Shareholder Information Line
Australian Callers: 1800 602 244
International Callers: +61 8 6218 4220

Letter to Aztec Shareholders

18 December 2006

Dear Shareholder

MOUNT GIBSON IRON LIMITED TAKEOVER OFFER FOR AZTEC RESOURCES LIMITED

As you would be aware, the board of Aztec Resources Limited (Aztec) has
recommended that Aztec shareholders accept Mount Gibson Iron Limited's (Mount
Gibson) offer for all the fully paid ordinary shares in Aztec.

Since providing this recommendation, Mount Gibson has become an 85% holder (as
defined in the Corporations Act) in relation to the fully paid ordinary shares
in Aztec and will have the right to compulsorily acquire all of the Aztec shares
which it does not already own if it becomes a 90% holder of those securities.

You should be aware that, if these circumstances arise, Mount Gibson intends
exercising this right of compulsory acquisition.

The boards of Aztec Resources and Mount Gibson therefore encourage you to accept
the offer immediately. By doing so, you will become entitled to receive your
offer consideration of one Mount Gibson share for every three Aztec shares you
hold within three days of your acceptance. This payment period is significantly
shorter than that which would apply if your Aztec shares were acquired as part
of the compulsory acquisition process.

You should also be aware that, as a result of Mount Gibson holding greater than
80% of the Aztec shares, if you accept the offer you may be entitled to scrip
for scrip capital gains roll over relief if you hold your shares on capital
account (see section 10.2 of the bidder's statement for further information).

Mount Gibson's offer is scheduled to close at 5pm (Perth, Western Australia
time) on 22 December 2006. If you have any questions as to how to accept the
offer, please contact the Offer Information Line on 1300 307 543 (within
Australia) or +61 3 9415 4335 (international callers).


Yours sincerely

MOUNT GIBSON IRON LIMITED     AZTEC RESOURCES LIMITED

Luke Tonkin                   Peter Bilbe
Managing Director             Managing Director








                      This information is provided by RNS
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