EASTERN RESOURCES LIMITED — Board/Management Information 2023

Jan 11, 2023

12 January 2023

APPOINTMENT OF LITHIUM INDUSTRY EXPERT TO THE BOARD

Highlights

• Highly experienced mining executive Mark Calderwood joins Eastern Resources

• Mr Calderwood was instrumental in the discovery and development of the Bald Hill lithium mine

• Mr Calderwood’s 30 years of experience in the resources industry and lithium expertise will catalyse the fast tracking of Eastern Resources’ lithium projects

The Directors of Eastern Resources Limited (“Eastern Resources” or the “Company”) are pleased to announce the appointment of highly regarded mining executive Mr Mark Calderwood as a NonExecutive Director.

Mr Calderwood is a highly experienced resources executive with more than 30 years’ experience in exploration and production. He is the former Managing Director and CEO of Perseus Mining, where he led Perseus from a micro-cap explorer to an ASX100 company with a market capitalisation of $1.6 billion.

Mr Calderwood also has significant experience with LCT pegmatites, lithium exploration and mine development. He oversaw the discovery and development of the Bald Hill lithium mine in Western Australia and is a co-author of a guidebook to the pegmatites of Western Australia.

Chairman Eddie King commented:

“We are delighted to have Mark join the Board. Mark has a proven record of discovery and development of projects, being instrumental to bring the Bald Hill lithium mine in WA into production. He brings a wealth of experience and technical skills to Eastern Resources and the Board looks forward to working with him as we focus on driving sustainable growth and value creation for our shareholders.”

ABOUT EASTERN RESOURES LIMITED

Eastern Resources Limited (ASX: EFE) is an Australia based ASX-listed, emergent lithium focused exploration and development company.

The Company has recently completed the acquisition of the Trigg Hill Lithium-Tantalum project which is strategically located in the historical lithium-tin-tantalum district in the Pilbara (WA). The Company owns the Yalgoo West project located in Yalgoo lithium province, and Lake Johnston project located in the southern Yilgarn region of WA. The Company has the right to acquire up to 85% Lithium Rights in the Taylor Lookout Lithium-Tantalum project in the Kimberley region (WA).

[A][ Level 1, 80 Chandos Street, St Leonards NSW 2065 ] T +61 2 9906 7551 | E info@easternresources.com.au

The Company is also developing the Nowa Nowa Iron project in East Gippsland, VIC, which is in EES process.

The Company has formed strategic partnership with Ya Hua International Investment and Development Co. Ltd, a wholly owned subsidiary of Yahua Group which is one of the largest Chinese lithium converters, to acquire and develop spodumene projects. The Company also has executed Strategic Partnership Agreement with Yongxing Special Materials Technology Co. Ltd. (“Yongxing”) to acquire and develop lepidolite projects. Yongxing is one of the major Chinese lithium converters using lepidolite concentrates as feed to produce battery grade lithium carbonate. These two strategic relationships provide Eastern Resources with excellent coverage over the primary lithium sources.

INVESTOR INFORMATION

Further information, previous Company announcements and exploration updates are available at the Investors tab on the Company’s website – www.easternresources.com.au

This announcement has been authorised for release by the Board of the Company.

Eastern Resources Limited

Myles Fang

Executive Director

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