IRON BEAR RESOURCES LTD — Board/Management Information 2016

Sep 28, 2016

ASX Announcement 29 September 2016

Response to Shareholder Letter

Australia resource and investment company, Cape Lambert Resources Limited ( ASX: CFE ) ( Cape Lambert or the Company ) makes the following response in relation to a letter from WRP Legal and Advisory to the ASX on 26 September 2016. Cape Lambert acknowledges that the requirements of clause 13.4 of its Constitution required that Mr Jason Brewer, who was appointed as a non-executive director to fill a casual vacancy, held office only until the Annual General Meeting. Cape Lambert rejects the assertion

that Mr Brewer’s continued participation as a director is in breach of the Corporations Act and the Constitution. Mr Brewer has continued in fact to act as a director and the Board considers that he fills a casual vacancy. Mr Brewer’s appointment as a director will be the subject of a motion for reelection at the Annual General Meeting to be held in November 2016.

Cape Lambert Resources Limited (ASX: CFE) is a fully funded mineral development company with exposure to iron ore, copper, gold, uranium, manganese, lithium and lead-silverzinc assets in Australia, Europe, Africa and South America.

Australian Securities Exchange

Code: CFE

Ordinary shares 720,686,586

Unlisted Options 7,675,000 ($0.088 exp 18 Dec 2016)

Board of Directors

Tony Sage Executive Chairman

Tim Turner Non-executive Director

Jason Brewer Non-executive Director

Melissa Chapman Company Secretary

Yours faithfully Cape Lambert Resources Limited

Tony Sage Executive Chairman

Cape Lambert Contact

Investor Relations Phone: +61 8 9380 9555 Email: info@capelam.com.au

Australian Enquiries

Professional Public Relations David Tasker Phone: +61 8 9388 0944 Mobile: +61 433 112 936 Email: david.tasker@ppr.com.au

www.capelam.com.au

Cape Lambert Resources Limited ABN 71 095 047 920 Corporate - 32 Harrogate Street, West Leederville WA 6007