IRON BEAR RESOURCES LTD — Capital/Financing Update 2020

Aug 16, 2020

ASX Release

17 August 2020

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Extension of Loan Facility

On 26 June 2020 Cape Lambert Resources Limited (ASX: CFE) ( Cape Lambert or the Company ) announced that it had agreed to vary a loan facility with Winance ( Winance Loan ) first announced on 24 January 2020.

Under the variation, the Company was due to repay principle of $500,000 by 30 July 2020. The parties are currently in negotiation over the terms upon which this payment will be made. Pending finalization of these negotiations, Winance has advised the Company that it will forebear from taking any action under the loan.

Announcement authorised for release by Cape Lambert’s Executive Director, Mr Tony Sage.

ENDS

For further information please contact:

Investor Relations

Follow us

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+61 (0) 8 9380 9555 @Cape_Lambert ir@capelam.com.au cape-lambert-resources-limited

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Cape Lambert Resources Limited ABN 71 095 047 920

32 Harrogate Street, West Leederville WA 6007 Phone: +61 8 9380 9555 Email: admin@capelam.com.au

www.capelam.com.au

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ASX: CFE