IRON BEAR RESOURCES LTD — Capital/Financing Update 2018

Jul 19, 2018

ASX Announcement 20 July 2018

Placement

Australian resources and investment company, Cape Lambert Resources Limited (ASX: CFE) ( Cape Lambert or the Company ) is pleased to announce that it has completed a placement of 38,924,698 fully paid ordinary shares ( Shares ), at an issue price of $0.03 per Share to raise cash proceeds of approximately $1.1 million (before expenses) and to settle creditors of the Company of $63k ( Placement ).

The funds raised will be used towards funding its exploration expenditure activities at the Kipushi Cobalt-Copper Tailings Project in the Democratic Republic of Congo and for general working capital purposes.

Cape Lambert’s Chairman, Tony Sage, said “We are delighted to have received strong demand for the placement. ” He added “ Cape Lambert has received a positive response since releasing the engineering study results recently completed by Minnovo. ”

The Company confirms it resolved to raise the capital by way of a placement to sophisticated and professional investors as this was considered to be the most expedient mechanism for raising funds in a timely manner. Shares pursuant to the Placement will be issued in accordance with the Company’s capacity under Listing Rules 7.1 and 7.1A once all funds have been received.

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

Australian Securities Exchange Code: CFE

Ordinary shares 949,310,216

Unlisted Options

23,500,000 ($0.05 exp 31 Dec 2018) 15,336,363 ($0.07 exp 12 Mar 2020) 7,667,727 ($0.07 exp 19 Mar 2020) 5,250,000 ($0.04 exp 31 Mar 2020)

Board of Directors

Tony Sage Executive Chairman

Tim Turner Non-executive Director

Stefan Muller 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

Wimmer Financial acted as corporate finance advisor and placement agent for the equity placing in UK and Europe:

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www.capelam.com.au

Per Wimmer, CEO 4 Tenterden Street, London W1S 1TE, UK Phone: (+44) 207.432.7501 E-Mail: Per.Wimmer@WimmerFinancial.com Website: www.WimmerFinancial.com

Cape Lambert Resources Limited ABN 71 095 047 920

Corporate - 32 Harrogate Street, West Leederville WA 6007