EASTERN RESOURCES LIMITED — Board/Management Information 2009

Aug 10, 2009

. . . ASX Announcement

Tuesday 11 August 2009

Company Announcements Office Australian Securities Exchange

Eastern Iron – Retirement of Director

The Board of Eastern Iron Limited wish to advise that founding Director Bob Richardson will retire as a Non-Executive Director of the Company effective from 15 August 2009.

Bob's retirement will not significantly diminish his contribution at Eastern Iron, as he will continue to provide technical and strategic advice to the Company pursuant to his existing consulting arrangements. Rather, his resignation is in accordance with currently held views on good corporate governance, which discourage the practice of Boards having a majority of members that are affiliated with a major shareholder, in this case Bob is a Director of Platsearch NL, which holds 46% of the shares in the Company.

The Board is very pleased to retain Bob's ongoing input particularly in light of his direct involvement, along with Managing Director Peter Buckley in identifying the iron ore prospectivity of the areas that comprise the Company's core tenement portfolio.

Attached is an Appendix 3Z (Final Directors Interest Notice).

==> picture [76 x 82] intentionally omitted <==

Glenn G Goodacre Chairman

Level 1, 80 Chandos Street St Leonards, NSW 2065 PO Box 956, Crows Nest, NSW 1585 Ph: 02 9906 7551 Fax: 02 9906 5233 www.easterniron.com.au

…iron’s new horizon

Appendix 3Z Final Director’s Interest Notice

Rule 3.19A.3

Appendix 3Z

Final Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	Eastern Iron Limited
ABN	70 126 678 037

We (the entity) give ASX the following information under listing rule 3.19A.3 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director	Robert Lewis Richardson
Date of last notice	12 December 2008
Date that director ceased to be director	15 August 2009

Part 1 – Director’s relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Number & class of securities

200,000 Unquoted options with an exercise price of 25 cents each and expiry date of 19 December 2010

• See chapter 19 for defined terms.

11/3/2002

Appendix 3Z Page 1

Appendix 3Z Final Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

	Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest Mr Robert Lewis Richardson & Ms Susanne Brint Fund A/C> - Superfund of Robert Richardson	Number & class of securities 275,000 fully paid ordinary shares 137,500 options with an exercise price of 12 cents each and expiry date of 19 December 2010

Part 3 – Director’s interests in contracts

Detail of contract	None
Nature of interest
Name of registered holder (if issued securities)
No. and class of securities to which interest relates

• See chapter 19 for defined terms.

Appendix 3Z Page 2

11/3/2002