IRON BEAR RESOURCES LTD — Board/Management Information 2017

Dec 4, 2017

ASX Announcement 5 December 2017

Board Appointment

Australian resources and investment company, Cape Lambert Resources Limited (ASX: CFE) ( Cape Lambert or the Company ) is pleased to announce the appointment of Mr Stefan Müller as a Non-Executive Director of the Company with effect from 1 January 2018.

Mr. Müller has extensive financial markets and investment banking knowledge and experience built over his 25-year career. Mr. Müller is CEO and founder of DGWA Deutsche Gesellschaft für Wertpapieranalyse GmbH, a boutique European investment and financial markets consulting firm for national and international SMEs based in Frankfurt, Germany.

Mr. Müller graduated a banker and began his career at Dresdner Bank AG as senior vice president of global equity trading. He held senior positions with Equinet AG, Bankhaus Sal Oppenheim (largest European private bank at that time) as head of global proprietary trading and managing partner at Proprietary Partners AG, a Swiss based hedge fund advisory company.

Mr. Müller holds a supervisory board position with Agrarius AG an agriculture based business listed on the Frankfurt Stock Exchange and also consults for various companies, institutions and federal organisations regarding their investment strategy.

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 870,719,919

Unlisted Options 23,500,000 ($0.05 exp 31 Dec 2018)

Board of Directors Tony Sage Executive Chairman

Tim Turner Non-executive Director

Jason Brewer Non-executive Director

Melissa Chapman Company Secretary

In negotiating the terms of Mr Müller’s engagement, Cape Lambert has agreed that Mr Müller (or nominee) will be issued 10,000,000 options exercisable at $0.075 (7.5 cents) on or before 30 June 2019. The issue of these options is subject to shareholder approval and the exercise price is 200% over the Company's 5 day VWAP.

Executive Chairman, Tony Sage, welcomes Stefan to the Board and said, “Appointing Stefan to the board of Cape Lambert provides us with the opportunity to expand the level of interest in Cape Lambert throughout Europe.” He also added, "Stefan recently joined the board of European Lithium Limited, a company in which Cape Lambert is a substantial shareholder, and the share price of European Lithium Limited has increased 400% since his appointment”.

Cape Lambert Contact

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

Yours faithfully Cape Lambert Resources Limited

www.capelam.com.au

Tony Sage Executive Chairman

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