IRON BEAR RESOURCES LTD — Capital/Financing Update 2017

Feb 12, 2017

ASX Announcement 13 February 2017

Sale of Mayoko Royalty for A$1m cash

Australian resource and investment company, Cape Lambert Resources Limited ( ASX: CFE ) ( Cape Lambert or the Company ) is pleased to announce that it has sold its 100% owned royalty, in the form of a deferred consideration deed, in the Mayoko iron ore project ( Mayoko Project ) for A$1,000,000 cash only subject to the formality of the new owners signing off on the transaction.

Cape Lambert acquired the royalty as part consideration when it sold its 100% interest in the Mayoko Project to African Iron Limited in January 2011, which was subsequently taken over by Exxaro Resources Ltd ( Exxaro ).

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 23,500,000 ($0.05 exp 18 Dec 2018)

Board of Directors

Cape Lambert Executive Chairman, Mr Tony Sage, said “Given Exxaro recently sold the entire project it purchased for approximately $313m for only $3m and assumption of liabilities, I am extremely pleased that we have ” been able to sell the royalty for $1m .

Yours faithfully Cape Lambert Resources Limited

Tony Sage Executive Chairman

Tim Turner Non-executive Director

Jason Brewer Non-executive Director

Melissa Chapman Company Secretary

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