EASTERN RESOURCES LIMITED — Capital/Financing Update 2012

Sep 25, 2012

Company Announcements ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

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26 September 2012

ISSUE OF SHARES UNDER THE SHORTFALL OFFER NOTICE PURSUANT TO SECTION 708A(5)(e) CORPORATIONS ACT 2001 (Cth) (Act)

In accordance with the Shortfall Offer set out in the replacement prospectus replacing the prospectus lodged with ASIC on 22 May 2012 ( Prospectus ), on 26 September 2012, Eastern Iron Limited ACN 126 678 037 (the Company ) issued 22,843,106 fully paid ordinary shares ( Shortfall Shares ), being the number of undersubscribed shares under the Entitlement Offer under the Prospectus, to a sophisticated and professional investor. The money raised will fund the capital investment and working capital requirements of the Company.

The Company hereby gives notice under section 708A(5)(e) of the Act, that:

1. the Company issued the Shortfall Shares without disclosure to investors under Part 6D.2 of the Act;

2. as at the date of this notice, the Company has complied with:

   • a. the provisions of Chapter 2M of the Act as they apply to the Company;

   • b. section 674 of the Act; and

3. as at the date of this notice, there is no excluded information for the purposes of sections 708A(7) and 708(8) of the Act which is required to be disclosed by the Company.

The Appendix 3B in relation to the Shortfall Shares was lodged with the ASX on 26 September 2012.

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…………………………………………… Ian K White Company Secretary

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