EASTERN RESOURCES LIMITED — Capital/Financing Update 2021

Feb 9, 2021

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ISSUE OF PLACEMENT SHARES AND CLEANSING STATEMENT

Eastern Iron Limited (the Company ) (ASX: EFE ) advises that 62,500,000 fully paid ordinary shares ( Shares ) pursuant to a placement announced on 2 February 2021 ( Placement ) were issued on 10 February 2021.

An Appendix 2A Application for quotation in relation to the Shares has been lodged with ASX at the same time as this announcement.

Notice Under Section 708A(5)(e) of the Corporations Act 2001 (Cth)

In respect of the Shares, the Company gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ) of the following:

1. The Shares were issued without disclosure under Part 6D.2 of the Act.

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

   • (i) the provisions of Chapter 2M of the Act as they apply to the Company; and

   • (ii) section 674 of the Act.

3. As at the date of this notice, there is no information to be disclosed which is excluded information (as defined in section 708A(7) of the Act) that is reasonable for investors and their professional advisers to expect to find in a disclosure document.

This announcement has been authorised for release by the Board.

Mr Eddie King Chairman T: 02 9906 7551

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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