EASTERN RESOURCES LIMITED — AGM Information 2011

Nov 29, 2011

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30 November 2011

CLARIFYING STATEMENT – AGM PRESENTATION

The recently released AGM presentation included several slides which require further clarification.

Slide 7 entitled NSW Pisolite Iron JV includes a reference to an exploration target tonnage of +5Bt. This refers to an exploration target tonnage which may be in the range of 4-6Bt and is conceptual in nature as there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

Slide 3 entitled Investment Highlights refers to a 1-2Bt potential resource which again is an exploration target tonnage which at this stage is conceptual in nature as there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

Slide 12 entitled Eulogie Project includes a bullet point regarding the recently announced resource for the Eulogie project. Details of this of this global resource estimate where contained in a company release to the ASX dated 19 October 2011 and are summarised below:

	Tonnes (Mt)
		Fe%	DTR	**TiO2% **	V%
Indicated	154	12.8	14.0	3.0	0.095
Inferred	311	13.2	14.3	3.1	0.098
Total
	465	13.1	14.2	3.0	0.097

Investor Information

Eastern Iron is investigating the potential for development of a magnetite processing operation based on magnetite deposits it holds under permit in Central Queensland. The Company is also in joint venture with 3ESteel to investigate the potential for developing large low cost low grade iron deposits in western NSW.

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

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Mr Greg De Ross, Managing Director Mob: 0417 711 274

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Greg De Ross, BSc, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Greg De Ross is CEO and a full-time employee of Eastern Iron Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Greg De Ross consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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