ASX Release and Media Announcement 12 December 2011

IRON ROAD CENTRAL EYRE IRON PROJECT EXCEEDS TWO BILLION TONNES

Iron Road Limited (Iron Road, ASX: IRD) is pleased to announce a resource upgrade at the Central Eyre Iron Project (CEIP), with the Mineral Resources increasing in size from

1.33Bt to 2.10Bt. The upgrade comes as part of an ongoing Mineral Resource expansion programme at the Murphy South deposit.

Highlights