IRON BEAR RESOURCES LTD — Director's Dealing 2014

May 13, 2014

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	28 June 2014

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 PaulSage as trustee of the EGAS SuperannuationFund.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):Securities owned by Okewood Pty Ltd, acompany in which Mr Sage has a relevantinterest.
Date of change	13 May 2014

• 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):40,940,430 Fully Paid Ordinary SharesIndirect (2):250,000 Fully Paid Ordinary SharesIndirect (3):2,425,000 Fully Paid Ordinary Shares2,000,000 Unlisted options exercisable at$0.29 each on or before 22 November 2013(subject to vesting conditions)
Class	Fully Paid Ordinary Shares
Number acquired	500,000
Number disposed	500,000
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	Nil
No. of securities held after change	Indirect (1):40,440,430 Fully Paid Ordinary SharesIndirect (2):250,000 Fully Paid Ordinary SharesIndirect (3):2,925,000 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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Date of change	N/A
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

Part 3 –+Closed period
Were the interests in the securities or contractsdetailed above traded during a+closed period**where 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 thisprovided?	N/A

Date: 13 May 2014

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3