IRON BEAR RESOURCES LTD — Major Shareholding Notification 2009

Sep 10, 2009

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	CORVETTE RESOURCES LIMITED
ACN/ARSN	103 006 542
1. Details of substantial holder(1)
Name	"A" ("SUBSIDIARIES")	CAPE LAMBERT IRON ORE LIMITED ("CAPE LAMBERT") AND EACH ENTITY LISTED ON ATTACHED ANNEXURE
ACN/ARSN (if applicable)	095 047 920 (Cape Lambert) and Refer to Annexure "A"
There was a change in the interests of the substantial holder on		10/09/09
The previous notice was given to the company on		09/09/09
The previous notice was dated		09/09/09
2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5
Ordinary Fully Paid	32.639.678	28.13%	35.192.678	30.33%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
10/09/09	Cape Lambert and Subsidiaries	Acquisition of relevant interest in fully paid ordinary shares in Corvette Resources Limited arising upon acceptance of the takeover offer set out in the Bidder's Statement dated 24 July 2009.	Consideration payable on the terms of the offer set out in the Bidder's Statement dated 24 July 2009.	2.553.000 ordinary fully paid shares	2,553,000

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Cape Lambert and Subsidiaries	Accepting ordinary shareholders	Cape Lambert and Subsidiaries	Relevant interest arises under s608(8) of the Corporations Act as a result of acceptances of the takeover offer set out in the Bidder's Statement dated 24 July 2009.	35,192,678 ordinary fully paid shares	35,192,678

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

$\cdots$ and . .able` ∴NI/∆ Fe 40 Name S N	Natu статіог. د - м
N/A רש	IIA N/A --------------------------------------- ---------------

6. Addresses

The addresses of persons named in this form are:

Name	Address
Cape Lambert and Subsidiaries	C/- 18 Oxford Close, LEEDERVILLE WA 6007

Signature

print name	ELOISE VÓN PUTTKAMMER	capacity Company Secretary
sign here		/ 2009 09 $10$ / date
	DIRECTIONS

• $(1)$ If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(6)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any $(a)$ 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 arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to $(b)$ 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 2001.

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 entitled to receive in relation to that acquisition. Details m $(7)$ the relevant interest was acquired.

If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". $(8)$

$(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. This is Annexure "A" of 1 page to the Form 604 dated 10 September 2009.

ELOISE VON PUTTKAMMER
Company Secretary

Details of subsidiaries of Cape Lambert Iron Ore Limited

ACN/Company no.	Company name	Country of incorporation
136 930 204	Cape Lambert Minsec Pty Ltd	Australia
1390447	Mineral Securities Limited	British Virgin Islands
1390446	Minsec Investments (BVI) Limited	British Virgin Islands
125 112 325	Mineral Securities Investments (Australia) Pty Ltd	Australia
091 158 593	Mineral Securities Operations Ltd (Receivers and	Australia
	Managers Appointed)