IRON BEAR RESOURCES LTD — Major Shareholding Notification 2010

Jul 26, 2010

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Company Announcements Platform Australian Securities Exchange

27 July 2010

Our ref 172/13637/80082015

Dear Sir/Madam

Notice of change of interests of substantial holder - Cape Lambert Resources Limited

We enclose, on behalf of African Minerals Limited and its controlled entities, an ASIC Form 604 ("Notice of change of interests of substantial holder") in relation to Cape Lambert Resources Limited (ASX: CFE).

Yours sincerely

John Elliott, Partner +61 2 9353 4172 jelliott@claytonutz.com

Enc

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme		Cape Lambert Resources Limited (CLR)
ACN/ARSN	ACN 095 047 920
1. Details of substantial holder (1) Name	(Controlled Entities)	African Minerals Limited (AML) on its own behalf and on behalf of its controlled entities as shown in Annexure A
ACN/ARSN (if applicable)	Not applicable
There was a change in the interests of the
substantial holder on		9 April 2010
The previous notice was given to the company on		1 February 2010
The previous notice was dated		29 January 2010

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)
Cordinary shares	118.162.723	$19.9\%$	118.162.723	18,88%

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 or scheme 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
9 April 2010	AML	AML has not disposed of any lshares in CLR since the date of the last substantial holder notice. However, on 9 April 2010, AML's voting power in CLR decreased by more lthan 1% of CLR's ltotal ordinary shares las a result of the lexercise of CLR options by a third party or third parties.	Not applicable	Not applicable	Not applicable
9 April 2010	Each Controlled Entity	Each Controlled Entity has a relevant linterest in the CLR lshares in which AML lhas a relevant interest by virtue of being an associate of AML for the purposes of section 12(2)(a) of the Corporations Act 2001 (Cth). Accordingly, the relevant interest of leach Controlled Entity in CLR shares ldecreased in the Isame manner as referred to above.	Not applicable	Not applicable	Not applicable

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
AML	AML	IAML	Pursuant to section $(608(1)(a)$ of the Corporations Act 2001. (Cth).	118.162,723 ordinary shares	118,162,723
Each Controlled AML Entity		IAML	[Each Controlled Entity is an lassociate of AML for the purposes of section 12(2)(a) of the Corporations Act 2001 (Cth) and thereby has la relevant interest in the CLR shares in which AML lhas a relevant interest.	118, 162, 723 ordinary shares	118,162,723

604 page 2/2 15 July 2001

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:

--- Name and ACN/ARSN (if applicable)	Nature of association
Not applicable	Not applicable _____ -------

6. Addresses

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

Name	Address
JAML	Nictoria Place, 31 Victoria Street, Hamilton, HM10 Bermuda
Each Controlled Entity	Ic/-, Victoria Place, 31 Victoria Street, Hamilton, HM10 Bermuda

Signature

	print name lan Dickson	capacity	General Counsel
sign here	Jansi Char	date	27 July 2010

DIRECTIONS

• 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 ann $(1)$ 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. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• $(6)$ 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 $(a)$ 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

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 $(b)$ securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

$\hat{z}_i$ , $\hat{z}_j$ ,

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 $(7)$ are not paid directly to the person from whom 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.

Annexure A

This is the Annexure A referred to in the Form 604 (Notice of change of interests of substantial holder) signed by me and dated 27 July 2010.

Tandolkle lan Dickson

General Counsel
27 July 2010

Controlled Entities

• Tonkolili Iron Ore Limited $\bullet$
• Gori Hills Nickel Limited $\bullet$
• Nimini Hills Nickel Limited $\bullet$
• Lovetta Uranium Limited $\blacksquare$
• Sierra Leone Gold Limited
• African Railway and Port Services Limited
• African Minerals (UK) Limited $\epsilon$
• African Minerals (Guernsey) Limited
• African Minerals Engineering Limited $\bullet$
• White River Resources Limited $\bullet$