IRON BEAR RESOURCES LTD — Major Shareholding Notification 2010

May 13, 2010

13 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 Change in Interests of Substantial Shareholder under Section 671B

Company Secretary:

Enclosed is a Notice of Change in Interests of Substantial Shareholder under Section 671B dated 12 May 2010. Please note that a copy of this report has been sent to the Australian Stock Exchange.

Neither the Capital Group Companies, Inc. nor any of its affiliates own shares of your company for its own account. Rather, the shares reported on Form 604 are owned by accounts under the discretionary investment management of one or more of the investment management companies that make up the Capital Group Companies, Inc.

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

604 page Page 1 of 2

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Cape Lambert Resources Limited ACN/ARSN 1. Details of substantial holder(1) Name The Capital Group Companies, Inc. ACN/ARSN (if applicable) n/a There was a change in the interests of the substantial holder on 12 May 2010 The previous notice was given to the company on 19 August 2009 The previous notice was dated 18 August 2009

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. 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	Previous notice	Present notice	Present notice
	Person'svotes	Voting power(5)	Person'svotes	Voting power(5)
Ordinary Shares	32,100,000 shares	6.1283%	31,347,455shares	5.0095%

The shares being reported under this section 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.

604 page Page 2 of 2

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 ofchange	Person whoserelevant interestchanged	Nature ofchange (6)	Consideration given inrelation to change (7)	Class and numberof securitiesaffected	Person'svotesaffected
19 Aug 09Through12 May10	The Capital GroupCompanies, Inc.	Dispositionof Shares	Average price of0.4265 AUD	752,545 OrdinaryShares	752,545

See Annexure A dated 18 August 2009

4. Present relevant interests

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

Holder ofrelevantinterest	Registered holder ofsecurities	Person entitled tobe registered asholder(8)	Nature of relevantinterest (6)	Class andnumber ofsecurities	Person's votes
		none
See Annexure A dated 12 May 2010 (copy attached)

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 (ifapplicable)	Nature of association
N/A	N/A

6. 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
Signatureprint name: Liliane Corzosign here__________________	Capacity: Senior Counseldate13 May 2010

Annexure “A”

This is the Annexure of 1 page marked Annexure “A” referred to in Form 604 signed by this corporation dated 12 May 2010.

The Capital Group Companies, Inc.

By: ______________________________________ Liliane Corzo Senior Counsel

Australia Annexure

Cape Lambert Resources Limited

12 May 2010

CG Investment Management CompanyCapital Research and Management CompanyGRAND TOTAL	Account Number1100003511000075		Number of Shares20,947,45510,400,00031,347,45531,347,455	% Held
				5.01%

Nominee List

Cape Lambert Resources Limited.

12 May 2010

Nominee Name

Westpac Custodian Nominees
50 Pitt Street, 8th Floor
Sydney, NSW 2000
Australia
11000035		20,947,455
11000075		10,400,000
	Total Shares:	31,347,455