IRON BEAR RESOURCES LTD — Director's Dealing 2012

Jun 5, 2012

Media Release 6 June 2012

CAPE LAMBERT CHAIRMAN INCREASES STAKE IN COMPANY VIA ON-MARKET PURCHASES

Australian resources company Cape Lambert Resources Limited (ASX: CFE ) (“ Cape Lambert ” or “the Company ”) wishes to advise that Executive Chairman, Mr Tony Sage, has increased his stake in the Company through the purchase of shares on market in recent days (see attached Appendix 3Y Change in Director’s Interest Notice).

Mr Sage acquired a total of 1,500,000 shares in the Company, for a total consideration of A$457,500. Mr Sage now holds a relevant interest in Cape Lambert of approximately 5.87%.

Commenting on his on market purchase of shares Mr Sage said, “I am 100% committed to Cape Lambert, its assets and its long-term growth opportunities, hence the reason why I took the opportunity to buy shares via on market purchases in recent days.”

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.

Australian Securities Exchange Code: CFE

Ordinary shares 689,108,792

Unlisted Options 7,800,000 ($0.45 exp 30 Nov 2012)

Board of Directors

“While some uncertainty has occurred due to the ATO matter and our deferral of the Marampa IPO, the fundamentals of the Company remain strong and the development of our assets present an opportunity to generate considerable upside for Cape Lambert.”

-ENDS-

Tony Sage Executive Chairman Tim Turner Non-executive Director Brian Maher Non-executive Director Ross Levin Non-executive Director Claire Tolcon Company Secretary

Key Projects and Interests Marampa Iron Ore Project Pinnacle Group Assets International Goldfields Limited

Cape Lambert Contact

Tony Sage Executive Chairman

Eloise von Puttkammer Investor Relations

Phone: +61 8 9380 9555 Email: info@capelam.com.au

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

Tavistock Communications Emily Fenton / Jos Simson Phone: +44 (0)207 920 3150 Mobile: +44 (0)7899 870 450

Cape Lambert Resources Limited[ABN 71 095 047 920 ]

www.capelam.com.au

Corporate - 32 Harrogate Street, West Leederville WA 6007 Projects - Level 1, 2 Ord Street, West Perth WA 6005

United Kingdom - 14 Golden Square, London W1F 9JG

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 the relevant interest.	Indirect (1): Shares owned by Mr Antony William Paul Sage as trustee of the EGAS Superannuation Fund. 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	1 June 2012 4 June 2012

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	Indirect (1): 34,040,430 Fully Paid Ordinary Shares 2,000,000 Options (exercisable at $0.45 each on or before 30 November 2012) Indirect (2): 250,000 Fully Paid Ordinary Shares Indirect (3): 4,650,000 Fully Paid Ordinary Shares
Class	Fully Paid Ordinary Shares
Number acquired	1,500,000 Shares
Number disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$457,500
No. of securities held after change	Indirect (1): 34,040,430 Fully Paid Ordinary Shares 2,000,000 Options (exercisable at $0.45 each on or before 30 November 2012) Indirect (2): 250,000 Fully Paid Ordinary Shares Indirect (3): 6,150,000 Fully Paid Ordinary Shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in 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.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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

Part 3 –[+] Closed period

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

Date: 6 June 2012

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3