IRON BEAR RESOURCES LTD — Major Shareholding Notification 2006

Feb 15, 2006

603 nane 1/2 15 July 2001

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Form 603

Corporations Act 2001

Saction 671B

Notice of initial substantial holder

The Police and the substantial control of the substantial control of the substantial control of the substantial control of the substantial control of the substantial control of the substantial control of the substantial co 医骨质粘液 经交易保险费 To Company Name/Scheme.	CAPE LAMBERT IRON ORE LIMITED ("CPE")
ACN/ARSN 095 047 920	a provincia de	the community of the conditions of the set
Contact Contact		TERRITORY
1. Details of substantiel holder (1) PONER UNITED LIMITED ("POWER") Name
ACN/ARSN (if applicable)
. The holder became a substantial holder on	15 /12 / 05

The noider became a substantial holder on a tri
Artista nagay

2. Details of unting power

.
The total number of votes attacked to all the voting shares in the computry or voting interests in the scheme that the substantial holder or an associate (2) had a
Televant interest (3) in on the date the substantial hol

. and a state [Class of securities (4)	. Number of securities	Person's votes (5)	Voting power (6) . .
IFULLY ORDINARY	-------------------------------------- .		.
$\sim$ PAID SHARES	18, 328, 363,	18,328,363	7.35%

3. Details of relevant interests.

The nature of the relevant interest the substantial holder or an associate had in the following vocing securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
POMER	ANNEXURE "A" SEE	FULLY ORDINARY PAID
$\cdots$		18,328,363

4. Details of prosent registered halders.

The persons registered as holders of the securities referred to in paracraph 3 above are as follows:

August Avenue Holder of relevant interest	Registered rolder of Times face and a series securities	Person entitled to be the company's the registered as holder (6)	Class and member of securities
POWER	POWER	and a group of the stage of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of the state of PCWER	POR 183283634
. apparent in the theory of the same product of the .	tra a sa contro a guarantee e estadounidense a constructiva		the state of the state of the state of the

E. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above. and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	- Cate of acquisition	Consideration (9) $\cdots$	a shekara 1.1.1	Class and number of securities
		Last	"Non-cash"
of the con- POWER	15/12/05	SEE	' annexure	ROP
	.	"A"		18,328,363

La Poli

Saaraaray

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. . . . . . . . . . . . . . . . . . .

the complete state of the state

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August 1 Agreement . . . . . . . . . . . . . . . . . . . .

		803 - page 2/2, 15 July 2001

	Name and ACN/ARSN (if applicable)	Nature of association
		t a cho
	7. Addresses
	The additioses of existens hamed in this form are as follows:
	Name	Address
	POWRR	5TH FLOOR, NO. 9 QUEENS RAOD CENTRAL SUITE 501A,
		HONG KONG
	Signature	Carissa Limited
	print name	Capacity Sole Director
		For and on behalf of CARISSA i imitte n date $-14/92/72006$
	sign here	A.H.
		Authorized Signature(s)
		directions
		If there are a namber of substantial hulders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity must), the names could be included in an ennexure to the form. If the televant interests of a group of persons are essentially similar, they may be referred to depends out the form as a specifically named qroup if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the
(H) - (2)	form. See the definition of "associate" in section 9 of the Corporations Act 2001.
$\left( 3\right)$		See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
傅.	The voting shares of a company constitute one class unless divided into separate classes.
	Interestini.	The lotal number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate had a relevant
$\left(\mathbb{S}\right)$ . Γ.	The person's votes cavided by the total votes in the body corporate or scheme multiplied by 100.
ſP,	Hradia de desta listoria (L.
	Ð	any relevant agreement or other chromostances by which the relevant interest was accurred. If subsection 6718(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract. scheme or arrengement, must accompany this form, together with a written statement certifying this contruct, scheme or expangement, and
	制.	any gealification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voding powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).
	See the definition of "relevant agreement" in section 9 of the Corporations Act 2003.
ie,		If the substantial holder is unable to determine the identity of the parson (eq. If the relevant interest crises because of an option) write "unknown"
	the relevant interest was acquired.	Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitied to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its assuriate in relation to the acquisitions, even if they are not paid directly to the porson from whom

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This is annexure "A" of 1 page referred to in Form 603 Notice of Substantial Holder

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POWER UNITED LIMITED ACN 095 047 920

Power United Limited ("Power") acquired a relevant interest in its CFE securities pursuant to a Share Sale Agreement between International Goldfields Ltd (now known as CFE). Mt Anketell Pty Ltd, Power, Waterloo Australia Pty Ltd, Sandalwood Resources Pty Ltd, Helen Wells & Associates Pty Ltd and Rodney John Whitbread ("Share Sale Agreement") in which CFE acquired all of the issued capital in Mt Anketell for the following equity consideration issued to Power as part of the acquisition price:

• $a)$ 18,328,363 ordinary fully paid shares in CFE;
• b) 50,000,000 options, with an exercise price of 30 cents per option and expiring on 31 October 2008:
• 50,000,000 options with an exercise price of 35 cents per option and expiring $\mathbb C$ ) on 31 October 2009; and
• 40,000,000 options with an exercise price of 40 cents per option and expiring $d$ ). on 31 October 2010.

For and on hehalf of LIMITED

Authopica Synamics)

Signature:

Xole Directo: Capacity

14 February 2006 Dated: