Iron Road Limited (ASX:IRD) Announce Central Eyre Iron Project 2011 Stage VI Drilling Programme Update

Perth, May 10, 2011 AEST (ABN Newswire) - Iron Road Limited (ASX:IRD) is pleased to advise that Stage VI drilling at the Central Eyre Iron Project (CEIP) is proceeding as planned.

CEIP Summary

- The Stage VI drilling programme investigates the western extension of mineralization at Murphy South.

- Two diamond drill rigs on double shift drilling NQ2 diamond tails in fresh rock.

- One RC rig on single shift drilling pre-collars in oxide and transitional zones.

- Drilling completed to date confirms extension of Murphy South 800-1,200m west of the nearest drill hole traverse (Stage V).

- On track to define a mineral resource estimate of considerable size and tonnage additional to the current 907Mt identified at Murphy South so far.

Progress to date

------------------------------------------------Hole Type         Metres            Holes                Completed (m)     Completed (No.)------------------------------------------------RC (pre-collar)        1,821         24------------------------------------------------Diamond (tail)         2,777         10------------------------------------------------

The exploration target for Murphy South (western extension), across the 10 traverses designed for the Stage VI drilling programme, is 500-800Mt magnetite gneiss.

The Stage VI drilling programme comprises 66 diamond drill holes for over 25,000m. Cross-sections will be presented as they are completed. The geology intersected in all traverses thus far is consistent with expectations and confirms the extension of the Murphy South orebody in a westerly direction.

For the complete Iron Road announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/541076.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