EASTERN RESOURCES LIMITED — Capital/Financing Update 2021

May 17, 2021

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RESULTS OF ENTITLEMENT OFFER

Eastern Iron Limited (“Eastern Iron” or the “Company”) (ASX: EFE) has completed its nonrenounceable pro-rata entitlement offer (“Entitlement Offer”) of one Share for every four Shares held by those Shareholders registered at the Record Date at an issue price of $0.008 per Share, together with one free attaching New Option for every two Shares issued, to raise up to approximately $1,072,370.

The results of the Entitlement Offer are as follows:

Total number of shares applied forShortfallTotal offered	43,721,50890,324,878
	134,046,386

The Entitlement Offer was fully underwritten by CPS Capital Group Pty Ltd and as such, the Company will now place all of the Shortfall Shares with the underwriter. The Company expresses its appreciation to participating shareholders for their ongoing support.

This announcement has been authorised for release in accordance with the requirements of the Company’s Continuous Disclosure Policy.

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Mr Ian K White Company Secretary T: 0416 026 790

INVESTOR INFORMATION

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

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

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