IRON BEAR RESOURCES LTD — Director's Dealing 2011

Apr 19, 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 March 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 (3)
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.	Indirect (1):Shares owned by EGAS Superannuation Fund,a company in which Mr Sage has a relevantinterest.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 companyin which Mr Sage has a relevant interest.
Date of change	19 April 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):28,840,430 Fully Paid Ordinary SharesIndirect (2):250,000 Fully Paid Ordinary SharesIndirect (3):6,150,000 Fully Paid Ordinary Shares2,800,000 Options (exercisable at $0.45 eachon or before 30 September 2011).
Class	Fully paid ordinary shares
Number acquired	100,000
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$49,500
No. of securities held after change	Indirect (1):28,840,430 Fully Paid Ordinary SharesIndirect (2):250,000 Fully Paid Ordinary SharesIndirect (3):6,250,000 Fully Paid Ordinary Shares2,800,000 Options (exercisable at $0.45 eachon or before 30 September 2011).
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participationin buy-back	On 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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01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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

Part 3 –[+] Closed period

Were the interests in the securities or contracts	No
detailed above traded during a+closed period
where prior written clearance was required?
If so, was prior written clearance provided to	N/A
allow the trade toproceed during thisperiod?
If prior written clearance was provided, on what	N/A
date was this provided?

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3