IRON BEAR RESOURCES LTD — Share Issue/Capital Change 2020

Aug 25, 2020

ASX Release

26 August 2020

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Issue of Shares

Cape Lambert Resources Limited (ASX: CFE) ( Cape Lambert or the Company ) refers to its announcement on 4 August 2020 that it intended to, subject to shareholder approval, undertake a placement to raise $1 million (before expenses) at $0.017 per fully paid ordinary share. Due to delays in finalizing a notice of meeting, the Company has, as an interim measure, today raised $125,500 (before costs) by issuing 69,722,223 fully paid ordinary shares ( Shares ) at an issue price of $0.0018 per Share. The Shares were issued without shareholder approval using the Company’s capacity under Listing Rule 7.1A.

Funds raised from the issue will be used for general working capital.

A completed Appendix 2A for today’s issue has been lodged together with this announcement.

Notice Under Section 708A(5)(e) of the Corporations Act 2001

In respect of the Shares, Cape Lambert gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ) of the following:

1. The Shares were issued without disclosure under Part 6D.2 of the Act;

2. As at the date of this notice, the Company has complied with: (a) the provisions of Chapter 2M of the Act as they apply to the Company; and (b) section 674 of the Act; and

3. As at the date of this notice, there is no information to be disclosed which is excluded information (as defined in section 708A(7) of the Act) that is reasonable for investors and their professional advisers to expect to find in a disclosure document.

Announcement authorised for release by the board of Cape Lambert.

ENDS

For further information please contact:

Investor Relations Follow us +61 (0) 8 9380 9555 @Cape_Lambert ir@capelam.com.au cape-lambert-resources-limited

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Cape Lambert Resources Limited ABN 71 095 047 920

32 Harrogate Street, West Leederville WA 6007 Phone: +61 8 9380 9555 Email: admin@capelam.com.au

www.capelam.com.au

ASX: CFE