IRON BEAR RESOURCES LTD — Capital/Financing Update 2018

Mar 11, 2018

ASX Announcement 12 March 2018

Capital Raising

Australian resources and investment company, Cape Lambert Resources Limited (ASX: CFE) ( Cape Lambert or the Company ) is pleased to announce that it will be undertaking a placement of up to 37,036,361 fully paid ordinary shares ( Shares ), at an issue price of $0.055 per Share to raise proceeds of up to approximately $2.0million (before expenses) ( Placement ). The Company will also be issuing one free attaching unquoted option for every two shares applied for under the Placement as well as issuing 5 million options to facilitators of the Placement which are exercisable at $0.07 (7 cents) expiring 2 years from the date of issue ( Placement Options ).

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 “the strong support shown from European and Australia sophisticated investors is a great result for the Company and it enables Cape Lambert to continue exploration and development activities at its Kipushi Cobalt-Copper Project.”

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 873,625,369

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

Board of Directors Tony Sage Executive Chairman

Tim Turner Non-executive Director

Stefan Muller Non-executive Director

Melissa Chapman Company Secretary

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 and Placement Options pursuant to the Placement will be issued in accordance with the Company’s capacity under Listing Rules 7.1 once all the funds have been received.

Yours faithfully Cape Lambert Resources Limited

Cape Lambert Contact

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

Tony Sage Executive Chairman

www.capelam.com.au

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