IRON BEAR RESOURCES LTD — Director's Dealing 2011

Mar 13, 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	20 December 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)	Shares owned by EGAS Superannuation Fund,
Note: Provide details of the circumstances giving rise to therelevant interest.	a company in which Mr Sage has a relevantinterest.
	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	11 March 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 Shares
	Indirect (2):
	250,000 Fully Paid Ordinary Shares
	Indirect (3):
	5,500,000 Fully Paid Ordinary Shares
	2,800,000 Options (exercisable at $0.45 each
	on or before 30 September 2011).
Class	Fully paid ordinary shares
Number acquired	250,000
Number disposed	Nil
Value/Consideration	$131,250.00
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change	Indirect (1):
	28,840,430 Fully Paid Ordinary Shares
	Indirect (2):
	250,000 Fully Paid Ordinary Shares
	Indirect (3):
	5,750,000 Fully Paid Ordinary Shares
	2,800,000 Options (exercisable at $0.45 each
	on or before 30 September 2011).
Nature of change	On market trade
Example: on-market trade, off-market trade, exercise of options,
issue of securities under dividend reinvestment plan, participation
in buy-back

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	N/A
(if issued securities)
Date of change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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 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 contractsdetailed above traded during a+closed periodwhere prior written clearance was required?	No
If so, was prior written clearance provided toallow the trade toproceed during thisperiod?	N/A
If prior written clearance was provided, on whatdate was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3