IRON BEAR RESOURCES LTD — M&A Activity 2009

Sep 3, 2009

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4 September 2009

Company Announcements Office ASX Limited Exchange Plaza 2 The Esplanade PERTH WA 6000

Via E Lodgement

Dear Sir/Madam

CAPE LAMBERT IRON ORE LIMITED’S OFF-MARKET TAKEOVER BID FOR ALL THE FULLY PAID ORDINARY SHARES IN CORVETTE RESOURCES LIMITED

Cape Lambert Iron Ore Limited ( Cape Lambert ) made an offer under an off-market bid for all the fully paid ordinary shares in Corvette Resources Limited ( Offer ). The Offer is contained in the bidder’s statement dated 24 July 2009.

Attached are the following documents in relation to the Offer:

• (a) notice regarding the status of conditions pursuant to section 630(3) of the Corporations Act; and

• (b) notice of fulfillment of conditions pursuant to sections 630(4) of the Corporations Act and notice freeing offer from conditions pursuant to section 650F of the Corporations Act.

Yours faithfully

Eloise von Puttkammer

Company Secretary Cape Lambert Iron Ore Limited

Encl.

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