Eastern Iron Limited is principally engaged in the exploration and delineation of iron ore, precious and base metals resources in Australia/Asia Pacific region and the development of those resources into economic, cash flow generating mines. The Company's projects include Nowa Nowa Iron and Nowa Nowa Copper. Its Nowa Nowa Iron Project is located over 250 kilometers (km) east of Melbourne, which is close to the Princes Highway. Its mineral exploration license in Victoria, EL5545, covers an area of approximately 110 square kilometers near Buchan. Its mineral exploration license in Victoria, EL006183, covers an area of approximately 60 square kilometers just north of Nowa Nowa. It also holds the Eulogie and Hawkwood magnetite projects in Central Queensland. Gippsland Iron Pty Ltd is the subsidiary of the Company.