IRON BEAR RESOURCES LTD — M&A Activity 2010

Jun 24, 2010

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25 June 2010

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

Via E-Lodgement

Dear Sir / Madam

CAPE LAMBERT RESOURCES LIMITED OFFER TO ACQUIRE DMC MINING LIMITED (DMC MINING) – EXTENSION OF OFFER PERIOD

As at the date of this announcement Cape Lambert Resources Limited ( Cape Lambert ) (ASX: CFE ) has a relevant interest in 60.23% of DMC Mining Shares pursuant to its offer for all of the fully paid ordinary shares in DMC Mining ( Offer ).

The Offer was due to close at 5.00pm (WST) on 25 June 2010.

As Cape Lambert’s voting power in DMC Mining has increased to above 50% in the last 7 days of the Offer, by operation of Section 624(2) of the Corporations Act, the offer period has been automatically extended for a period of 14 days.

Accordingly, the Offer now ends at 5.00pm (WST/Perth time) on 8 July 2010 (unless further extended).

Cape Lambert will be releasing as soon as is practicable:

• (a) a formal Notice of Variation of Takeover Offer.

• (b) a Fourth Supplementary Bidder’s Statement relating to the above changes to its Offer.

Yours faithfully

Cape Lambert Resources Limited

Eloise von Puttkammer Company Secretary

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