IRON BEAR RESOURCES LTD — Major Shareholding Notification 2010

Jul 27, 2010

J.P.Morgan

28^th July 2010

To: The Australia Stock Exchange Ltd Exchange Centre 20 Bond Street Sydney NSW2000 Australia

Cc: Cape Lambert Resources Ltd 18 Oxford Close Leederville WA 6007 Australia

Withdrawal of Form 603 Initial Substantial Shareholding Notice in Cape Lambert Resources Limited ("CFE") by JPMorgan Chase & Co. and its affiliates ('J.P. Morgan)

Dear Sirs,

We refer to the above matter. A copy of the Form 603 is enclosed for your reference.

The shareholdings of J.P. Morgan were 29,878,300 ordinary shares on 4^th May 2010 and J.P. Morgan has filed Form 603 on the basis that CFE has 593,166,467 quoted fully paid ordinary shares.

We have confirmed with CFE that the total issued share capital as of 4^th May 2010 was 625,759,256. Out of the 625,759,256 ordinary fully paid shares on issue, 32,592,789 were unquoted fully paid ordinary shares.

Based on the total issued share capital, the shareholdings of J.P. Morgan holdings were below 5% as of $4^th$ May 2010. Hence, J.P. Morgan is withdrawing the Notice today.

Yours faithfully

Jasmine Pang Vice President JPMorgan Chase Bank, N.A.

Confidentiality Notice: This transmission is intended for the use of the individual or entity to which it is addressed, and it may contain information that is confidential or privileged under law. If the reader of this message is not the intended recipient, you are hereby notified that retention, dissemination, includion, the sender in mediately by telephone and destroy the original. Thank you.

Form 603

Corporations Law Section 671B

Notice of initial substantial holder

To Company Name/Scheme Cape Lambert Resources Limited

ACN/ARSN

1. Details of substantial holder (1)

Name	JPM organ Chase & Co. and its affiliates
ACN (if applicable)	N/A

04 May 2010 The holder became a substantial holder on

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Persons' votes (5) ----	Voting power $(6)$
Ordinarv	29.878.300 PERSONAL PROPERTY	29.878.300 -------	5.04%
.		-----------	CONTINUES IN THE REAL PROPERTY

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting 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
JPMorgan Asset Management (UK) Limited	Investment Management	29,878,300

4. Details of present registered holders

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

Registered holder of Holder of relevant interest securities		Person entitled to be registered as holder (8)	Class and number of securities
N/A

5. 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	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
See Appendix

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

-------------- Name and ACN (if applicable) --------------------------------------	Nature of association
N/A _________	______ ______
_	______ ______

7. Addresses

The addresses of persons named in this form are as follows:

_ Name	Address _________
JPMorgan Chase & Co.	1111 Polaris Parkway, Columbus, Ohio 43240
________	_________
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
________	______ ____

Signature		CANCELLEU
	print name	Margaret Chow		capacity	Associate / JPMorgan Chase Bank, N.A.
	sign here			date	05 May 2010

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 7 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Law.
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Law.
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(5)$ The total 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 has a relevant interest in.
• $(6)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(7)$ Include details of:
• $(a)$ any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(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 arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• $(b)$ 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 which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).
• $(8)$ 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".
• $(9)$ 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 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 associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.