IRON BEAR RESOURCES LTD — Investor Presentation 2013

May 8, 2013

Cape Lambert Resources

Company Presentation May 2013

Advancing Undervalued Mineral Assets

Tony Sage - Executive Chairman

Cape Lambert is a diversified mineral investment company listed on the ASX (“CFE”)

Strategic Portfolio

• » Geographically diverse portfolio of mineral assets and interests

• » Multi-commodity portfolio

• » Pipeline of quality projects

Fully funded

• » No bank debt

• » Cash position at 31 Mar 2013 A$20M

• » Cash due - $14.75m due 31 May 2013 for Leichhardt sale[2]

Future cash flows

• » Receivables and convertible notes of A$88.8M[1]

• » Proposed sale of Mayoko royalty – potentially $55m-$114m

Ownership

  - **» Directors hold approximately 6.7% of the Company**

  - **» Top 20 hold 73.2% of the Company**

• » Proposed sale of Marampa – potentially $500m

• 1 Legal Action has commenced to recover the final A$80m owing from MCC

• 2 $14.75m due by 31 May 2013 for settlement of the sale of the Leichardt Copper assets

Strong track record of delivering shareholder value

May 2006 Oct 2007 Oct 2008 In specie distribution In specie A$100M of International distribution of capital/ Goldfields (now Global Iron dividend International (now African payment (from Petroleum Petroleum sale of CFE Market cap A$71M) Market cap magnetite A$254M) deposit)

July 2010

A$44M fully franked special dividend payment (from sale of Lady Annie Copper Project)

Feb 2011

On market buyback 54M shares for A$32M

Divestments that created significant shareholder value

2010–2011: CopperCo

• Acquired CopperCo Assets for $130m

• Sold Lady Loretta for $30m

• Sold Lady Annie for $130m

• Sold Sappes for $46.5m

• Total sale value of $206.5m

2011–2012: African Iron

• Divestment of DMC Mining Ltd into African Iron Ltd (ASX.AKI) for $47m cash, 25% of AKI, and a $1/t production royalty

• 25% AKI holding sold to Exxaro for $72m

• CFE retains production royalty, estimated value of more than $55m

Market Capitalisations calculated as at 2 May, 2013

Quality Assets in Project Pipeline

Development projects

Marampa (Fe) Sierra Leone

Earmarked for sale

Leichhardt – Mt Cuthbert (Cu), QLD Australia (sale currently being finalised)

Exploration projects

Sandenia (Fe) Guinea

Australis/Mojo Kukuna (Fe) (Phosphate, Cu, Sierra Leone Zn) QLD, Australia

Early exploration

Rokel (Fe) Sierra Leone

Regional Gold, Cote d’Ivoire

Regional Iron New Ore, Gabon Projects

Key Projects and investments

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1
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1. Leichhardt sale to settle by 31 May 2013
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Capital Structure

Ordinary shares (ASX: CFE)	687.4m
Market Cap at $0.15	$103m
Cash	$20.3m
Receivables1	$100.7m
Options ($0.29 exp 22 Nov 13)	11.7m
Listed investments 2	$19.8m
Unlisted investments3	$9.9m
Enterprise value	($22.9m)

Shareholders

African Minerals Limited	17.7%
Top 20	73.2%
Institutional shareholders Including: Capital World BlackRock Henderson JP Morgan	~38%
Directors	6.7%

Average Daily Trading Volume	Average Daily Trading Volume
2013 (year to date)	1.0m

1. Includes proceeds from Leichhardt sale, loans receivable and MCC receivable.

2. As at 30 April

3. Includes convertible notes and unlisted equity investments

Asset	A$ Value
Cash at 31 March 2013	$20.3m
Leichhardt(100%) 3	$14.8m
MCC Receivable	$80.0m
Receivables2	$5.9m
Listed Investments1	$19.8m
Unlisted Investments	$7.0
Convertible Notes	$2.9m
Value of financial assets	$150.7m
Marampa(100%)	$250-$500m
Royaltyon African Iron	$55-$100m
Rokel(100%)	?
Australis(100%)	?
Pinnacle – Sandenia & Kukuna(100%)	?
Cape Lambert South(100%)	?
Cote D’Ivoire - Gold(100%)	?
Gabon - Ire Ore(20%)	?
Value of CFE Projects?	+++$300m
Total value of CFE assets = $150.7m PLUS value of projects
Current Market Capitalisation	$103m

1. Equities were mark-to-market on 30 April 2013.

2. Receivables include loan receivables and outstanding CST receivable

3. Settlement of the conditional agreement for the sale of the Leichhardt Copper Project has been agreed to on or around 31 May 2013.

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West African Emerging Iron Ore Business
–
“The Next Pilbara”
CFE Projects
Page 8 | May 2013
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• » JORC resource of 680Mt at 28.2% Fe

• » Supporting 15Mtpa high quality hematite concentrate production for >15 years

• Scoping study for 15Mtpa, standalone open pit mining development complete:

• » Stage 1 – up to 3.4Mtpa concentrate: capex US$368m

• » Stage 2 – 10Mtpa concentrate: capex US$1.25b

• » Stage 3 – 15Mtpa concentrate: capex US$715m

• » 16 year mine life at operating cost of US$51/t concentrate (incl. transport) » After tax NPV[1] 10%[US$1.177 billion with IRR = 22%]

• » <2.5km from existing operational heavy haulage Lunsar–Pepel railway (73km)

• » 2wMtpa right to access rail and port

• » Environmental Licence approved

• » Mining Licence in preparation

• » Option agreement with AML to buy 2wMtpa concentrate at mine gate

• At concentrate FoB sales price of US$100/t

Location	» Republic of Sierra Leone » Large land position (305km2)
Ownership	» 100% CFE
Project stage	» Environmental Licence approved » Mining Licence in preparation » Scoping Study at 15Mtpa concentrate completed
JORC Mineral Resources	» 4 deposits with resource of 680Mt at 28.2% Fe (15% Fe cutoff) » Indicated: 261Mt at 28.7%Fe » Inferred: 419Mt at 27.9%Fe
Exploration Target1	» >6km of undrilled strike at 3 prospects » Total Exploration Target1 1.0 – 1.25Bt at 20-38% Fe (including JORC resource)
Metallurgy and Products	» Coarse primary grind size (P98of 850µm), low power costs, life of mine average mass yield 36.4%, >65% Fe concentrate » Sinter fines and pellet feed. Possible DRI feed
Rail and Port Access	» 2wMtpa via existing Pepel Port and Rail. » 15wMtpa via trans-shipping port when operational.

1. The estimates of Exploration Target sizes should not be misunderstood as estimates of Mineral Resources. The estimates of Exploration Target sizes are conceptual in nature and there has been insufficient results received from drilling to date to estimate a Mineral Resource in accordance with the JORC Code (2004). It is uncertain if future exploration will result in the determination of a Mineral Resource.

2. Continuing to progress development plans for Marampa & assess all development alternatives that will result in the most efficient use of funds and the highest return

3. Detailed below are a number of alternative development scenarios for Marampa - the financial outcomes of each alternative are presented on the following page

4. » 3 stage development (2.5Mtpa, 10Mtpa, 15Mtpa)

5. Scenario 1A » Assumes no mine gate sales to African Minerals Ltd (AML) » 3 stage development (2.5Mtpa, 10Mtpa, 15Mtpa)

6. Scenario 1B » Assumes 2wMtpa of mine gate sales to AML for 3 years as per the HoA » 3 stage development (2.5Mtpa, 10Mtpa, 15Mtpa)

7. Scenario 1C » Assumes no mine gate sales to AML

   • » Assumes no mine gate sales to AML

   • » Investigates mining the base of the pit to the London Mining boundary

   • » 3 stage development (5Mtpa, 10Mtpa, 15Mtpa)

Scenario 2A

• » Assumes no mine gate sales to AML » Single 5Mtpa development

• Scenario 3A » Assumed all product railed on AML’s railway

Considerations and assumptions

• » 1A, 1B & 1C - Existing Heads of Agreement with African Minerals allows for transport of 2wMtpa transport and an additional optional 2wMtpa of mine gate sales to AML

• » Scenario 2 and 3 require further agreement with AML to enable transport of 5Mtpa on Pepel Rail

• » African Minerals has indicated a willingness to amend the agreement upwards

• » Scenario 1C requires an agreement with London Mining to mine pit slopes within their boundary

• » Average FOB Concentrate Sale Price (65% Fe) of US$100/dmt (equivalent to Platts US$120/dmt) used

• » Average feed head grade 27.3% Fe

• Scenario 3A presents the lowest capital expenditure and the highest IRR amendments to the HoA with AML

• but does require

• Scenario 3A demonstrates a lower start up cost alternative with many potential growth options , such as pipeline construction for an additional 5 or 10Mtpa once the project is generating cash flows

	Scenario 1A	Scenario 1B	Scenario 1C	Scenario 2A	Scenario 3A
Mine Life	16	16	17	16	38
Ore mined Mt	555.3	555.3	668.2	555.3	520.9
Concentrate produced Mt	202.2	202.2	239.5	202.2	189.9
Capital costs
Development capital Stage 1 $m (2.5Mtpa: 1A, 1B, 1C) (5Mtpa 2A and 3A)	368.2	368.2	368.2	476.5	643.3
Development capital Stage 2 (10Mtpa) $m	1253.1	1253.1	1253.1	1144.7	0.0
Development Capital Stage 3 (15 Mtpa) $m	715.5	715.5	715.5	715.5	0.0
Total Development Capital $m	$2,336.7m	$2,336.7m	$2,336.7m	$2,336.7m	$643.3m
Operating Costs
Operating cost per t/conc. $/t conc	53.0	53.0	50.8	52.8	58.4
Total operating costs $m	$10,725.5m	$10,721.6m	$12,160.5m	$10,673.9m	$11,094.9m
Financial Summary
Total Revenue $m	$20,224.5m	$20,224.5m	$22,821.8m	$20,224.5m	$18,985.5m
Operating Cashflow $m	$8,548.5m	$8,552.4m	$10,661.2m	$8,600.0m	$6,998.2m
Net Project Cashflow $m	$4,475.8m	$4,521.5m	$6,044.6m	$4,534.9m	$5,375.9m
NPV 10% $m	$1,059.1m	$1,200.2m	$1,324.4m	$1,220.6m	$858.9m
IRR	20%	23%	21%	23%	27%

Location	» Republic of Sierra Leone » 68km2 granted licence
Ownership	» 100% CFE - Pinnacle Group Assets
Exploration Target1	» Three target trends with total prospective strike of ~20km » Exploration target 1-2.0 Bt at 30-40% Fe of hematite schist iron ore
Product	» High grade hematite concentrate
Project stage	» Early exploration » Trenching & drilling program conducted in 2011/2012 on priority targets
Rail and Port Access	» Located ~80km from existing Pepel-Lunsar railway and/or the Atlantic Coast. » Transport and shipping options being examined.

1. The estimates of Exploration Target sizes should not be misunderstood as estimates of Mineral Resources. The estimates of Exploration Target sizes are conceptual in nature and there has been insufficient results received from drilling to date to estimate a Mineral Resource in accordance with the JORC Code (2004). It is uncertain if future exploration will result in the determination of a Mineral Resource.

Location	» Republic of Guinea » Granted exploration permit (295km2)
Ownership	» 100% CFE - Pinnacle Group Assets
Exploration Target1	» Exploration Target1 1.5-2.5 Bt at 25-35% Fe » Seven exploration targets prospective for enriched oxide and magnetite BIF
Project stage	» Early exploration » Drill targets defined at Sandenia & Sandenia East » Ongoing trenching and geophysical interpretation
Rail & Port Access	» Adjacent to proposed railway Kalia - Matakang » Bellzone have signed infrastructure deal with China Int. Fund

1. The estimates of Exploration Target sizes should not be misunderstood as estimates of Mineral Resources. The estimates of Exploration Target sizes are conceptual in nature and there has been insufficient results received from drilling to date to estimate a Mineral Resource in accordance with the JORC Code (2004). It is uncertain if future exploration will result in the determination of a Mineral Resource.

||Page 15 |
Rokel Iron Ore Project - Overview
Location
»
+2,000km2 of prospective
Marampa belt
Ownership
»
100% CFE - Metal Exploration Limited
Exploration
Target
»
Hematite schist iron ore.
»
Identified prospect at Kumrabai east of
Marampa with strike of 8km
»
3 known historical occurrences
north of Marampa
Project
stage
»
Airborne magnetic geophysical survey
completed. Target generation in progress
»
Prospect mapping & sampling underway at
Kumrabai
Rail and
Port Access
»
Prospect and occurrences 5-40km from
Tonkolili-Lunsar-Pepel railway
May 2013|Page 15 |
Rokel Iron Ore Project - Overview
Location
»
+2,000km2 of prospective
Marampa belt
Ownership
»
100% CFE - Metal Exploration Limited
Exploration
Target
»
Hematite schist iron ore.
»
Identified prospect at Kumrabai east of
Marampa with strike of 8km
»
3 known historical occurrences
north of Marampa
Project
stage
»
Airborne magnetic geophysical survey
completed. Target generation in progress
»
Prospect mapping & sampling underway at
Kumrabai
Rail and
Port Access
»
Prospect and occurrences 5-40km from
Tonkolili-Lunsar-Pepel railway
May 2013|
|---|---|---|
||Location|»
+2,000km2 of prospective
Marampa belt|
||Ownership|»
100% CFE - Metal Exploration Limited|
||Exploration
Target|»
Hematite schist iron ore.
»
Identified prospect at Kumrabai east of
Marampa with strike of 8km
»
3 known historical occurrences
north of Marampa|
||Project
stage|»
Airborne magnetic geophysical survey
completed. Target generation in progress
»
Prospect mapping & sampling underway at
Kumrabai|
||Rail and
Port Access|»
Prospect and occurrences 5-40km from
Tonkolili-Lunsar-Pepel railway|
||||

Binding Terms Sheet for Leichhardt project for $14.75m has been executed[1]

Location	» Mt Isa Inlier, Qld, Australia
Ownership	» 100% CFE » CFE initially acquired the Leichhardt Project for $8.5m from Matrix Metals in 2009
JORC Resource	» Resource of 10.5Mt at 0.74% Cu (78kt contained Cu) » 48 granted tenements
Infrastructure	» Mt Cuthbert SX-EW process plant with 9,000tpa copper cathode capacity » Mt Watson open pit » 110 person camp
Project stage	» Mt Cuthbert/Watson Operations - Care and Maintenance » Near-mine exploration and metallurgical testing in progress » Leichhardt Regional – exploration in progress on untested EM targets at Prospector/Leichhardt

1. Deposits of $2m received in April 2013, final settlement due on or around 31 May 2013

||Page 17 |
Australis Exploration - Overview
Location
»
Northern Territory and NW Qld, Australia
Ownership
»
100% CFE
Holdings
»
4 granted Exploration Licences (1,465km2)
in Northern Territory
»
3 Granted Exploration Licences (1,903km2)
in NW Queensland
»
100% of Mojo Mining Pty Ltd, which holds
15 granted Exploration Permits (1,264km2)
Exploration
targets
»
Rock phosphate in NT and QLD
»
Large Mt Isa style base metal deposits
under younger cover rocks at Mojo
Project
stage
»
Early exploration
»
Geophysical surveys and prospecting
underway
»
Geochemical soil sampling
May 2013|
|---|---|

APPENDICES

Acquire

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Add Value
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Leverage off strong balance sheet & relationships

• “hands on” approach

Explore and > Early stage projects & evaluate project companies considered economics to undervalued or crystallise value distressed > Position assets to > Iron ore, copper, gold, realise value uranium, oil & gas Realise > Monetise value in assets through IPO or partial sell down > Regularly distribute cash to shareholders via dividend payments, in specie distributions and capital returns

A Project team that has the technical and commercial expertise and experience to maximise project development

Over A$150M returned to shareholders via Special Dividends and Capital returns

Page 19 | May 2013

Cape Lambert invests at the optimum time to achieve maximum value returns

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Grassroots Exploration Appraisal Construction Production
exploration
Expansion
Scoping
Project/
Company Finance
Value
Discovery
Start-up
PFS BFS
Time
Investment ‘sweet spot’
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||Page 21 |
Listed Holdings Overview
May 2013
Company
Ticker
% holding
Value $
Company Description
Investments ~$1m and over
Cauldron Energy Limited
CXU - ASX
21.05%
$4,871,862
Uranium exploration in Argentina and Australia
Latin Resources Limited
LRS - ASX
11.48%
$3,616,014
Minerals sands and iron ore exploration in Peru
Glory Resources Limited
GLY - ASX
16.40%
$3,307,500
Developing the high grade Sapes Gold Project in northeastern Greece
Kupang Resources Limited
KPR - ASX
11.57%
$2,376,601
Development of Kupang manganese project
International Petroleum Limited
IOP - NSX
2.34%
$1,649,689
Focus on exploration at its five existing oil and gas exploration projects in Russia and Kazakhstan
Global Strategic Metals NL
GSZ - ASX
19.49%
$1,573,060
The company currently has interests in precious, base metals & lithium. Has an 80% interest in the
advanced WolfsbergLithiumproject in Austria
International Goldfields Limited
IGS - ASX
26.02%
$996,519
Well-funded and low cost gold-silver explorer, developer and miner
Investments under $1m
NSX Limited
NSX - ASX
3.54%
$560,000
National Stock Exchange of Australia
FE Limited
FEL - ASX
19.90%
$436,787
The Company's principal focus is the exploration and resource development of the Mt Ida and Mt
Elvire Iron Ore Projects in Western Australia
Southern Cross Goldfields
SXG - ASX
1.22%
$110,000
Owns the Marda project in Western Australia (Feasibility Study complete) and recently acquired the
Sandstonegoldprojectplant assets from TroyResources
Dourado Resources Limited
DUO - ASX
1.51%
$77,107
Gold and copper exploration in Western Australia
Oklo Resources Limited
OKU - ASX
2.06%
$45,000
Uranium, gold & phosphate exploration in Mali.
Triton Minerals Limited
TON - ASX
0.31%
$37,500
Holds a graphite project in Mozambique, and two gold projects in Australia
African Petroleum Corporation Ltd
AOQ - NSX
0.02%
$35,890
Oil and Gas Exploration Company focused on offshore West Africa
Bligh Resources Limited
BGH - ASX
0.67%
$24,000
Focused on the exploration and development of gold and manganese projects throughout Australia
Eclipse Metals Limited
EPM - ASX
0.68%
$16,500
Portfolio of assets in the Northern Territory which are prospective for gold, base metals, rare earth
elements(REE), and uranium
Zambezi Resources Limited
ZRL - ASX
0.42%
$9,333
Exploring for copper and gold projects in Southern Zambia
AXMIN
AXM.V
0.01%
$5,432
Canadian-based gold exploration company with projects and exploration properties in Central African
Republic, Senegal and Mozambique
Artemis Resources Limited
ARV - ASX
0.04%
$1,800
Gold exploration in Australia
TOTAL VALUE
$19.8m|
|---|---|

||Page 22 |
Unlisted Holdings Overview
May 2013
Company
Investment Details
Company Description
CONVERTIBLE NOTES
South East Asia Resources Ltd
SXI - ASX
Convertible
Note
$1,900,000
face value
Holds interests in a number of Indonesian and Australian thermal and coking coal projects
OGL Resources Limited
OGL - ASX
Convertible
Note
$1,000,000
face value
Near term, debt funded development of a thermal coal mine in Ipswich, QLD, 90km from Port
UNLISTED INVESTMENTS
Holding
Value $
Classic Minerals Limited
na
$25,000
Portfolio of multi-commodity exploration tenements in Australia
FEX
3.74%
$5,000,000
Na
Resource Investments Limited
Na
0 (Fully written
down)
Na
Hyperion Energy Pty Ltd
38.46%
$2,000,000
Utilising the very best and latest solar thermal/convection technologies, Hyperion will deliver
green renewable power for the Mid West region of Western Australia
UNLISTED OPTIONS
Dourado Resources Limited
2,392,857 options at $0.20, expiry 30/11/14
Gold and copper exploration in Western Australia
Global Strategic Metals NL
3,200,000 options at $0.10, expiry 31/01/15
The company currently has interests in precious, base metals & lithium. Has an 80% interest
in the advanced Wolfsberg Lithium project in Austria
TOTAL VALUE
$9.9m|
|---|---|

Tony Sage Executive Chairman

Over 26 years experience in corporate advisory, funds management, capital raisings and management of exploration companies.

Tim Turner

Non-Executive Director

Over 25 years experience in management and business consultancy and a partner in an accountancy practice.

Brian Maher

Non-Executive Director

Mining engineer with over 40 years experience in the mining industry working in Australia, Liberia, Guyana & the Philippines.

Ross Levin

Non-Executive Director

Holds degrees in both Law and Economics, extensive experience in acquisitions, corporate restructuring, and takeovers and is currently a senior partner in the commercial division of Rigby Cooke Lawyers.

Tony Boucher

General Manager Operations

Metallurgist / Chemist with 25 years experience in the mining and mining services sectors in Australia.

Jeff Hamilton

Manager – Development Projects

Mechanical Engineer with 25 years of experience in construction and mine developments around the world, including projects in Australia, Indonesia, Malaysia, Saudi Arabia, Greece and Sierra Leone.

Melissa Chapman Chief Financial Officer

Certified practicing accountant with over 13 years experience in the mining industry working in Australia and the UK.

Dennis Kruger Chief Geologist

Geologist with 30 years experience in exploration, development and mining, working in Australia and Africa.

Claire Tolcon

Company Secretary / Legal Counsel

Lawyer with 14 years experience primarily in the areas of equity capital markets, mergers and acquisitions, corporate governance and mining and resources.

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Dennis Kruger, who is a member of the Australasian Institute of Mining and Metallurgy. Dennis Kruger is a consultant to Cape Lambert Resources Limited, and has sufficient experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a Competent Person as defined in the December 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dennis Kruger has consented to the inclusion of the matters in this report based on his information in the form and context in which it appears.

The information in this report relating to Mineral Resources is based on information compiled by Olaf Frederickson, who is a member of the Australasian Institute of Mining and Metallurgy. Olaf Frederickson is a consultant to Cape Lambert Resources Limited, and has sufficient experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a Competent Person as defined in the December 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Olaf Frederickson has consented to the inclusion of the matters in this report based on his information in the form and context in which it appears.

Mineral Resources

Exploration Target Size Statements

Target sizes quoted in this presentation are conceptual in nature and in respect of the target sizes quoted, there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Target sizes referred to in this presentation refer to potential tonnages of iron ore mineralisation that have been estimated using available exploration information including historic and contemporary geological mapping, geochemical sampling of outcrops, pits and trenches, wide spaced diamond drill holes and modelling of ground and airborne geophysical survey data.

This presentation has been prepared by Cape Lambert Resources Limited (“Cape Lambert” or the “Company”). It is not a disclosure document and should not be considered as an offer or invitation to subscribe for, or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation.

This presentation contains forecasts and forward looking information. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied. Cape Lambert has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. Accordingly, to the maximum extent permitted by applicable laws, Cape Lambert makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and takes no responsibility and assumes no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission, from any information, statement or opinion contained in this presentation.

Throughout this presentation all figures are quoted in Australian dollars (A$) unless otherwise stated.

You should not act or refrain from acting in reliance on this presentation material. This overview of the Company does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of Cape Lambert’s prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision.

Information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on previous announcements made by Cape Lambert (or other relevant parties) to the ASX.

This presentation does not constitute financial product advice (nor investment, tax, accounting or legal advice) and has been prepared without taking account of any person’s investment objectives, financial situation or particular needs.

Cape Lambert Resources Limited

Tony Sage Executive Chairman

PO Box 1385 West Leederville WA 6901

Eloise von Puttkammer Investor Relations

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

www.capelam.com.au

Australian PR

UK PR

Professional Public Relations David Tasker + 61 8 9388 0944 / + 61 (0)433 112 936

Tavistock Communications Emily Fenton / Jos Simson +44 (0) 20 7429 6603 / +44 (0)7899 870 540