Iron Road Limited (ASX:IRD) Updates On Central Eyre Iron Project 2010 Drilling Programme Fortnight to 03 December 2010

Perth, Dec 7, 2010 AEST (ABN Newswire) - Iron Road Limited (ASX:IRD) (PINK:IRNRF) is pleased to advise that Stage V drilling at the Central Eyre Iron Project (CEIP) continues to proceed to plan.

CEIP Summary

- Additional drill rig mobilised at Murphy South bringing the total to four diamond drill rigs on double shift.

- On track for completion of Stage V drilling by mid-December 2010.

- Preparations underway to ensure Murphy South JORC compliant mineral resource estimate report is released late January 2011.
Progress to date

-----------------------------------------------------------Hole Type       Metres Completed (m)  Holes Completed (No.)-----------------------------------------------------------RC (pre-collar,        4,305              64now completed)-----------------------------------------------------------Diamond               22,892              58-----------------------------------------------------------

The exploration target for Murphy South, across the 10 traverses designed for the Stage V drilling programme, is 400-800Mt magnetite gneiss.

The cross-sections presented below and marked A, B, C, D, E, F, G and H, have been completed at Murphy South and are awaiting assays. Geology and surface area calculations do not include the entire near surface oxide component (drilled by RC rig). Sections 561140mE and 562940mE are in progress. The geology intersected in all traverses thus far is consistent with expectations. Note that drill hole traces are design and are yet to be corrected for deviation.

For the complete Iron Road announcement including figures, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/64365-ASX-IRD-519315.pdf

Contact

Andrew Stocks Managing Director Iron Road Limited Tel: +61-8-9200-6020 Mob: +61-403-226-748 Email: astocks@ironroadlimited.com.au http://www.ironroadlimited.com.au