ASX Announcement - 16 February 2015

RESIGNATION OF MS WENDY CORBETT, MR IVO POLOVINEO AND

MR ADRIAN CRITCHLOW AS DIRECTORS

The Board of Eastern Iron Limited advises that Ms Wendy Corbett, Mr Ivo Polovineo and Mr
Adrian Critchlow have resigned from the Board with effect from Friday 13 February 2015.
The resignations are intended to streamline the Company's management as part of a wider set of cost‐saving initiatives.
The Chairman of the Company, Mr Steve Gemell commented that;
"Wendy, Adrian and Ivo have provided valuable guidance to the Company during their incumbencies. Wendy has graciously consented to provide on‐going professional services in tenement management on a consulting basis, so we will not be losing contact with her. Adrian is a significant shareholder and we hope and expect that he will continue to take a keen interest in the progress of the Company. Ivo is an officer of significant shareholder Variscan Mines Limited, so again we expect that our contact with him will not be completely severed. We wish all three the very best in their future endeavours."

INVESTOR INFORMATION

Eastern Iron is investigating the potential for development of a high grade magnetite resource at Nowa Nowa in Eastern Victoria as well as other copper gold targets in the same region.
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 K White Company Secretary Mob: 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

ABN 70 126 678 037