IRON BEAR RESOURCES LTD — Capital/Financing Update 2016

Oct 26, 2016

ASX Announcement 27 October 2016

Sophisticated Investors purchase Receivers Shares

Australian resource and investment company, Cape Lambert Resources Limited ( ASX: CFE ) ( Cape Lambert or the Company ) wishes to advise shareholders that the remaining ~66m shared held by the receiver of African Minerals Limited ( AML ) has been allocated to sophisticated investors. This follows a divestment of 40m shares on 23 September 2016 as advised by AML on 6 October 2016 following the lodgement of a notice of change of interest in substantial holder notice.

Commenting on the divestment, Chairman Mr Tony Sage said “This is a significant milestone as it removes the overhang of shares that has restricted the share price over the past 2 years. We now have clear air.”

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

Yours faithfully

Cape Lambert Resources Limited

Tim Turner Non-executive Director

Jason Brewer Non-executive Director

Tony Sage Executive Chairman

Melissa Chapman Company Secretary

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