AZR Aztec Res.

RNS Number:5792M
Aztec Resources Limited
23 November 2006


Aztec Resources Limited

23 November 2006

TAKEOVER UPDATE

The Board of Aztec Resources Limited (ASX and AIM code: AZR) ("Aztec") notes
Mount Gibson Iron Limited (ASX: MGX) ("Mt Gibson") this morning has announced a
relevant interest in Aztec of 50.52% of Aztec shares.

Aztec was informed on 22 November 2006 by Mt Gibson that its interest in Aztec
is now 571,494,506 ordinary shares or 50.52%, including shares owned by parties
who have accepted Mt Gibson's off-market takeover bid for all the fully paid
ordinary shares in Aztec ("the Mt Gibson Offer"). The previous notice by Mt
Gibson of its interest in Aztec, on 20 November 2006, stated that at that time
Mt Gibson had an interest in 477,807,615 ordinary shares or 42.24%. The
announcements made on 22 November 2006 by Mt Gibson are available on the ASX
website www.asx.com.au

As a result of Mt Gibson obtaining a relevant interest in Aztec of greater than
50%, the provisions of the Corporations Act have automatically triggered an
extension of the offer period by two weeks. The Mt Gibson Offer is now scheduled
to close at 5pm (Western Standard Time) on Wednesday 6 December 2006.

Aztec directors will be in contact with Mt Gibson at the earliest opportunity to
discuss this development. Aztec will keep shareholders fully informed and will
make a further announcement with advice to shareholders well in advance of the
new scheduled close of the Mt Gibson Offer on Wednesday 6 December 2006.

In the meantime, Aztec shareholders are advised to take no action until the
Aztec Board makes a further announcement.

For further information contact:

Australia

Peter Bilbe, Managing Director: +61 8 9423 0800
Ian Gregory, Company Secretary: +61 8 9423 0800

Aztec Shareholder Information Line 1800 602 244 (Australian callers)
                                   +61 8 6218 4220 (International callers)

UK

Fiona Owen, Grant Thornton: +44 (0) 870 991 2318

Media Enquiries:

Warrick Hazeldine
Purple Communications
Tel: +61 8 9485 1254
Mob: +61 (0) 417 944 616


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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