IRON BEAR RESOURCES LTD — Major Shareholding Notification 2010

May 16, 2010

14 May 2010

BY FAX - ORIGINAL IN POST (61 8 9380 9666)

Cape Lambert Resources Limited 18 Oxford Close Leederville, Western Australia 6007 Australia

Re: Notice of Person Ceasing to be a Substantial Shareholder under Section 671B

Company Secretary:

Enclosed is a Notice under Section 671B of Person Ceasing to be a Substantial Shareholder dated 13 May 2010.

Please note that The Capital Group Companies, Inc. or one of its affiliates has made notifications to your company pursuant to Section 671B in the past.

For the purpose of this Notice, an outstanding share balance of 625,759,256 shares was used to calculate the percentage of holdings of the relevant share capital. We believe this outstanding share balance is current; however, if this number is not accurate, please contact us as soon as possible so that we may make the necessary revisions to this Notice.

Should you have questions or require additional information, please contact Gina Martinez or Vivien Tan at (213) 615-0469, or send a fax message to (213) 486-9698. Alternatively, you may contact us via e-mail at GRGroup@capgroup.com.

Regards,

Gina Martinez Compliance Manager

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder To Company Name/Scheme Cape Lambert Resources Limited ACN/ARSN 1. Details of substantial holder(1) Name The Capital Group Companies, Inc. CAN/ARSN (if applicable N/A The holder ceased to be a substantial holder on 13 May 2010 The previous notice was given to the company on 13 May 2010 The previous notice was dated 12 May 2010

The shares reported were owned by accounts under the discretionary investment management of 1 investment management company (Capital Research and Management Company) which is a direct or indirect subsidiary of The Capital Group Companies, Inc., 333 South Hope Street, 55th Floor, Los Angeles, California 90071.

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) 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 ofchange	Person whoserelevant interestchanged	Nature of change(4)	Consideration givenin relation tochange(5)	Class (6)and numberof securitiesaffected	Person's votesaffected
13 May 10	The Capital GroupCompanies, Inc.	Decreased holdings	Average price of0.4350 AUD	2,109,504OrdinaryShares	2,109,504

See Annexure A dated 12 May 2010

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) 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 N/A N/A

4. Addresses

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

Name	Address
The Capital Group Companies, Inc.	333 South Hope Street, 55thFloorLosAngeles, CA90071

The shares being reported are owned by accounts under the discretionary investment management of 1 investment management company (Capital Research and Management Company) which is a direct or indirect subsidiary of The Capital Group Companies, Inc., 333 South Hope Street, 55th Floor, Los Angeles, California 90071.

See Annexure A dated 13 May 2010 (copy attached)

Signature

print name Walter R. Burkley

capacity: Senior Counsel

sign here

date 14 May 2010

Annexure “A”

This is the Annexure of 1 page marked Annexure “A” referred to in Form 605 (cease) signed by this corporation dated 13 May 2010.

The Capital Group Companies, Inc.

By: ______________________________________ Walter R. Burkley Senior Counsel

Australia Annexure

Cape Lambert Resources Limited

13 May 2010

CG Investment Management Company	Account Number	Number of Shares	% Held
Capital Research and Management Company	11000035	18,837,951
	11000075	10,400,000
		29,237,951
GRAND TOTAL		29,237,951	4.67%

Nominee List

Cape Lambert Resources Limited

13 May 2010

Nominee Name

Westpac Custodian Nominees
50 Pitt Street, 8th Floor
Sydney, NSW 2000
Australia
11000035		18,837,951
11000075		10,400,000
	Total Shares:	29,237,951