IRON BEAR RESOURCES LTD — Investor Presentation 2006

Jul 9, 2006

10 July 2006

The Company Announcements Office Australian Stock Exchange Limited

Via E Lodgement

CAPE LAMBERT IRON ORE LTD PRESENTATION

Please find attached a copy of the Cape Lambert Iron Ore Ltd (ASX:CFE) presentation as at July $7^th$ 2006.

CFE Non-Executive Chairman, Ian Burston and Executive Director, Tony Sage will be visiting London this week to meet with current shareholders and broker representatives. The attached presentation will be use during this time.

Should there be any queries on this matter please do not hesitate to contact the writer.

Yours faithfully

CAPE LAMBERT IRON ORE LTD

Tony Sage

Executive Director

The mineral Resource is based on information compiled by Martin Reynolds who is a fellow of the Australian Institute of Mining & Metallurgy. Mr Reynolds is a Director of Mackay & Schnellmann Pty Ltd, an independent geological consultant. Mr Reynolds is qualified as a Competent person as defined in the 2004, "Australasian Code for Reporting of Mineral Resources and Reserves" $(JORC)$ .

For more information please contact: Tony Sage, Cape Lambert Iron Ore Ltd lan Burston, Cape Lambert Iron Ore Ltd. David Tasker, PPR Miikka Haromo, Collins Stewart Angus Prentice / Leesa Peters, Conduit PR-

+61 8 9380 9555 +610413998784 +61 8 9388 0944/ +61 433 112 936 +44 (0) 20 7523 8000 +44 (0) 20 7429 6603

Westen Australian Iron Ore Profect

Conocité Profile

Tolal Shares on Issue	24745 m
Opilons
31 October 2008 @ \$0.277 (ASX: CHEO)	TOOLOGIA
31 October 2009 @ \$0.327	ROLL
31 October 2010 @ \$0.377	ZOTA
Oashadisahk	ICTOR
Liquid Assets	PAIN

Current as of July 2006

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Wajoriy Sharehologis

RELIES	Numbar	% Issued Capital
National Nominees Ltd.	40,986,261	1642%
ANZ Nominees Limited	23 119 668	9.27%
JP Morgan Fleming Aust Ltd.	22750,000	9.12%
Power United Limited	18,328,868	7.85%
Westpac Custodian Nominees Ltd	12280X272	4.90%
AWP Sace	11720075	470%
Computershare Clearing Pty Ltd.	5,544,4191	2.22%
Battle Mountain Pty Ltd.	4 998,631	2 00%
Mittenykel toneku	4.476.809	179%
Equitech Investments Limited	2-562-050	1.08%
Shareholders as at 4 July 2006.	146 658 428	58,80%

EC 1

IVISTORIO DE L

Dr lan Burston – Non-Exceutive Chairman

Ian has more than 30 years experience in mining related industries including positions as Managing Director, CEO, Vice President and Chairman for both prominent and junior Company's. Ian is currently a non-executive Chairman of Broome Port Authority, Imdex Ltd and Aztec Resources Pty Ltd and a TOT EXECUTIVE DITECTOR OF MITTEO EXESOURCES NL.

Mr Bran Maher – Technical Director

Brian has over 40 years in the mining industry, covering both underground and open cut operations, as a miner, supervisor, mining engineer, mine manager consultant, contractor and managing director. He has worked throughout the world, including Australia, Liberia, Guyana and the Philippines.

Mr Tony Sage - Executive Director

Tony has in excess of 25 years of experience in the field or corporate advisory services, funds management and capital raising. Tony has been involved in the management and financing of Isled mining companies in Australia and internationally for the last 12 years.

Cape Lander Region ENTRY AND THE STATE OF THE CONTRACTOR

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(October Pennsylvania (Ortodexectorione)

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2.5 Billion Tonnes @ 30%Fe 1.4bt in Indicated Resource category 1 15 Min Interrett Restouree earetgory (250m depth & 25%Fe cut off)

1.2 Billion Tonnes @ 38%Fe 0.67bt in Indicated Resource category 0.53bt in Inferred Resource category (250m depth & 30%Fe cut off)

This Resource was calculated from 22,662 metres of Robe historical drilling consisting of 189 drill holes

Qualification: The mineral Resource is based on information compiled by Martin Reynolds who is a fellow of the Australian Institute of Mining & Metallurey, Mr Reynolds is a Director of Mackay & Schnellmann Pty Ed, an independent geological consultant. Mr Reynolds is qualified as a Competent person as defined in the 2004, "Australasian Code for Reporting of Mineral Resources and Reserves" (JORC)

Constantino de la familia de la familia de la familia de la familia de la familia de la familia de la familia

Logistic Advantages

• Mariton Cost 7
• Direct connection to Gas, Power, d Infrastructure, Local Workforce etc
• C \$25million per/kme Fortescue (FMC) ZEORO Mi Gibson (MGX) 400km Iron Ore Holdings (IOH) 250km 260km Cindalbie (GBG)

IWato PAUSI izika wakati wa matu ECOCON

Cape Lambert deposit is located on the north west coast of Western Australia, 20km north of Karratha which is a major distribution hub for iron ore, gas, etc.

ESPERSOS ESPECIALES Lexembre de la partie de la partie de la

• · 25 Billion Tonnes JORO compliant Resource
• $\sim$ 50 year mine life
• $\sim$ 5mipa 15mipa concentrator to >60% from
• Gapital ex requirements to turn key, est. \$500 million
• · AVG Waste Ratio 0.6: 1
• Recovery 30 35% C

Gombarison of Similar Gombariss

		Siteire Structure		Resource Willich TOHICS	ESCOSE Executives	RICO HONOR KONGEN	Comment
Market Cap Millon St	Shares (Million)	Options (Williem)
BHP Billion	40,000			Lake		743	PS 0
Rio Hinlo	40.000			Laice		405	DSO
Fortescue Metals (FMG)	1,350	224	2	ENCO	2,500	NA	DSO
Mi Gibson (MGX)	870	201	25	250	800	NA	DSO & Concentrate
Gindalbie Metals (GBG)	230	885	22	760	1400	MA	Concentrie
Grange Resources (GRR)	CETA	95	16	426	1500	NA	Concentrale
Gape Lambert Ron Ore (GTE)	CO	PATA	PHA	24500	650	836	Concentrate

Current as of July 2006

STERREN

• Location 5km's from Coast 2
• Significant infrastructure already in place € (power, road, water and populated areas)
• Substantial Tonnage with significant upside 2
• Stable colliteal and economic environment 3
• Proximity to Asian markets 2

MAYA HVƏSILID OZUCU BƏDU XIDI

• C Assembling Professional Team
• Large Ore Body Capable of Concentration to Acceptable D Sieel Industry Standards
• Princ Location
• Competitve Cost Into Ship 0
• Sirong Iron Ore Market 0
• Sole Foots on Developing Gape Lambert Deposit C

NEXESION

State 41

• RC Drilling Programme Commenced 2 State 2
• Refine Metallurgical Process for Concentrate 3
• Reine JORO Reserve / Resource Categories 2
• Develop Capital and Operational Estimates 3
• Complete BFS C