IRON BEAR RESOURCES LTD — Director's Dealing 2010

Jul 29, 2010

ASX Announcement 30 July 2010

Appendix 3Y – Change of Director’s Interest Notice

Please find attached an Appendix 3Y: Change of Director’s Interest Notice for Mr Tony Sage.

Yours faithfully Cape Lambert Resources Limited

Cape Lambert is an Australian domiciled, mineral investment company. Its current investment portfolio is geographically diverse and consists of mineral assets and interests in mining and exploration companies.

The Company continues to focus on investment in early stage resource projects and companies, primarily in iron ore, copper and gold. Its “hands on” approach is geared to add value and position assets for development and/or sale.

The Board and management exhibit a strong track record of delivering shareholder value.

Eloise von Puttkammer Company Secretary

Australian Securities Exchange Code: CFE

Ordinary shares 625,759,256

Board of Directors

Tony Sage Executive Chairman Tim Turner Non-executive Director Brian Maher Non-executive Director Ross Levin Non-executive Director Eloise von Puttkammer Company Secretary

Key Projects and Interests

Marampa Iron Ore Project Pinnacle Group Assets Sappes Gold Project DMC Mining Limited Corvette Resources Limited

Cape Lambert Contact

Tony Sage Executive Chairman Phone: +61 8 9380 9555

Australian Enquiries

Professional Public Relations David Tasker Phone: +61 8 9388 0944 Mobile: +61 433 112 936 Email: david.tasker@ppr.com.au

UK Enquiries

Conduit Public Relations Jos Simson Phone: +44 (0)20 7429 6603 Mobile: +44 (0)7899 870 450

Cape Lambert Resources Limited ABN 71 095 047 920 PO Box 144, West Perth Western Australia 6872 Phone: +61 8 9380 9555 Facsimile: +61 8 9380 9666

info@capelam.com.au

www.capelam.com.au

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	Cape Lambert Resources Limited
ABN	71 095 047 920

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Antony W P Sage
Date of last notice	13 July 2010

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect (3)
Nature of indirect interest	Indirect (1):
(including registered holder)Note: Provide details of the circumstances giving rise to the relevant	Shares owned by EGAS SuperannuationFund, a company in which Mr Sage has a
interest.	relevant interest.
	Indirect (2):
	Shares owned by PG Partnership, of which
	Okewood Pty Ltd is a member, a company in
	which Mr Sage has a relevant interest.
	Indirect (3):
	Shares owned by Okewood Pty Ltd, a
	company in which Mr Sage has a relevant
	interest.
Date of change	On 28, 29 & 30 July 2010.

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

	No. of securities held prior	No. of securities held prior	No. of securities held prior	No. of securities held prior
		No. of securities held prior			t hn	Direct:
					o cage	Nil
						Indirect (1):
						28,840,430 Full	y Paid Ordinary S		hares
						Indirect (2):
						250000 Fll	id Odi Sh
						, uy	a rnary a		es
						Indirect (3):5,000,000 Fully	Paid Ordinary Sh		ares
		Cl				Full Paid Ordinar Shares
		ass				y y
		Number acquired				500,000 Fully Paid Ordinary Shares
		Number disposed				Nil
		Value/Consideration				$177,056.54
		Note: If consideration is non-cash, provide details and estimated
		valuation
		No. of securities held after change				Direct:
						Nil
						Indirect (1):
						28,840,430 Fully Paid Ordinary Shares
						Indirect (2):250000 Fully P	aid Ordinary S	hares
						,
						Indirect (3):5500000 Fll	Pid Odi	Sh
						,, uy	a rnary	ares
		Natur		e of change		On-market trad	e
		Example:securities		on-market trade, off-market trade, exernder dividend reinvestment plan parti	cise of options, issue ofipation in buy-back
				,

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A
Date of change	N/A
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	N/A
Interest after change	N/A

Date of Notice: 30 July 2010

• See chapter 19 for defined terms.

Appendix 3Y Page 3

11/3/2002