Iron Road Limited (ASX:IRD) Updates On 2010 Drilling Programme At Central Eyre Iron Project & Gawler Iron Project

Perth, April 19, 2010 AEST (ABN Newswire) - Iron Road Limited (ASX:IRD) is pleased to advise that drilling at the Central Eyre Iron Project (CEIP) and Gawler Iron Project (GIP) is proceeding to plan.

Central Eyre Iron Project

CEIP Summary

- Diamond rigs completing triple tube QA/QC drilling at Dolphin.

- Remaining drilling includes four large diameter (PQ) holes for Pre-feasibility Study (PFS) metallurgical test work.

- Application for Exploration Work Approval (EWA) submitted to PIRSA for next stage of drilling at CEIP for 9380m.

- Coffey Mining has commenced with structural interpretation of Boo-Loo West.

Progress for Period-------------------------------------------------------------Hole Type        Metres Completed(m)     Holes Completed(No.)                 --------------------------------------------                  PERIOD     TO DATE      PERIOD      TO DATE-------------------------------------------------------------RC (pre-collar)  Complete       3396     Complete          49Diamond            1201        10539         7             55-------------------------------------------------------------

Gawler Iron Project

GIP Summary

- Three targets tested by drill traverses - Boomer, Northwest Fingerpost Hill 3 and Northwest Fingerpost Hill 1.

- In a single traverse at Northwest Fingerpost Hill 1 magnetite has been replaced by hematite from surface to a vertical depth of 55m. The total width of this hematite zone is estimated at 180m. Magnetite gneiss extends below the hematite by an additional 20-45m.

- To date a total of 1990 samples from 19 drill holes has been received by the analytical laboratory for XRF analysis. No assay results have been received.

- Drilling shut down for rest break from 13-26 April 2010.

Progress for Period-------------------------------------------------------------Hole Type        Metres Completed(m)     Holes Completed(No.)                 --------------------------------------------                  PERIOD     TO DATE      PERIOD      TO DATE-------------------------------------------------------------RC                 1688         3149        16             35Diamond              -            -          -              --------------------------------------------------------------

Contact

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