IRON BEAR RESOURCES LTD — Major Shareholding Notification 2009

Jun 14, 2009

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15 June 2009

The Manager Australian Stock Exchange Exchange Plaza 2 The Esplanade Perth WA 6000

Dear Sir

CAPE LIMITED -SALE OF SHARES - POWER UNITED LIMITED AND MICHAEL SHMAZIAN

We for the above persons and we enclose forms 605 “Notice ceasing to be a substantial shareholder”.

On behalf of Mr Shmazian, we would like to note the following:

“ Following the sale of the shares held in Cape Lambert Limited, Mr Shmazian will continue to assess other international investment opportunities in the resources sector, particularly in the early phases of development where he can advise and implement strategies that will ultimately deliver long term benefits for his clients, investment firm and other stakeholders ”.

Please feel free to contact the undersigned if you have any further questions in relation to the above.

Yours sincerely

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Vince Fayad Director

Direct line: 02 9 240 9883 Email: vince_fayad@pkf.com.au Mobile: 0414 752 804

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