ASX Announcement - 22 January 2016

APPOINTMENT OF MR DAHUI ZHANG AND MR YUNGANG WU TO THE BOARD

The Directors of Eastern Iron Limited are pleased to announce the appointment of Mr Dahui Zhang and Mr Yungang Wu to the Board.

As indicated in the Company's ASX announcement of 14 January 2016, Mr Zhang and Mr Wu have been nominated as Directors by Fortune Future Holdings Ltd following its $2m investment in the Company.

Mr Zhang has a Bachelor of Economics degree and an MBA. He is an Australian resident who has previously served as an officer of Australian listed mining companies Sino Gold Mining Limited and Focus Minerals Ltd. He is currently Managing Director of CMOC Mining Pty Ltd and CMOC Mining Services Pty Ltd.

Mr Wu has a Bachelor's Degree in Geological Exploration and a Master's Degree in Mineral Deposits. He is an experienced geologist who resides in Canada and is currently a non-executive director of GoWest Gold Ltd (TSXV:GWA).

Both Mr Zhang and Mr Wu have career long associations with the mineral resource industry and the Board welcomes their appointment and looks forward to their contribution to the Company.

INVESTOR INFORMATION

Further information, previous Eastern Iron announcements and exploration updates are available at the News and Reports tab on the Company's website - www.easterniron.com.au.

Ian White Company Secretary

Mobile: 0416 026 790

ASX: EFE

For enquiries on your shareholding or change of address please contact:

Boardroom Limited GPO Box 3993, Sydney NSW 2001 Phone: (02) 9290 9600