IRON BEAR RESOURCES LTD — Director's Dealing 2011

Dec 20, 2011

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 30/09/01 Amended 01/01/11

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 Sage
Date of last notice	16 December 2011

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
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.	Indirect (1):Shares owned by Mr Antony William Paul Sageas trustee of the EGAS Superannuation Fund.Indirect (2):Shares owned by PG Partnership, of whichOkewood Pty Ltd is a member, a company inwhich Mr Sage has a relevant interest.Indirect (3):Shares owned by Okewood Pty Ltd, a company inwhich Mr Sage has a relevant interest.
Date of change	16 December 2011

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	Indirect (1):32,040,430 Fully Paid Ordinary Shares2,000,000 Options (exercisable at $0.45 each onor before 30 November 2012)Indirect (2):250,000 Fully Paid Ordinary SharesIndirect (3):6,650,000 Fully Paid Ordinary Shares
Class	Fully paid ordinary shares
Number acquired	2,000,000 Shares
Number disposed	2,000,000 Shares
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	$960,000
No. of securities held after change	Indirect (1):34,040,430 Fully Paid Ordinary Shares2,000,000 Options (exercisable at $0.45 each onor before 30 November 2012)Indirect (2):250,000 Fully Paid Ordinary SharesIndirect (3):4,650,000 Fully Paid Ordinary Shares
Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestment plan,participation in buy-back	Off-market trade

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

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. and class of securities to which N/A interest related prior to change

No. and class of securities to whichinterest related prior to change	N/A
Note: Details are only required for a contract in relationto which the interest has changed
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

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