Cape Lambert Resources : Sophisticated Investors purchase Receivers Shares

ASX Announcement 27 October 2016

Sophisticated Investors purchase Receivers Shares

Australian resource and investment company, Cape Lambert Resources Limited (ASX: CFE) (Cape Lambert or the Company) wishes to advise shareholders that the remaining ~66m shared held by the receiver of African Minerals Limited (AML) has been allocated to sophisticated investors. This follows a divestment of 40m shares on 23 September 2016 as advised by AML on 6 October 2016 following the lodgement of a notice of change of interest in substantial holder notice.

Commenting on the divestment, Chairman Mr Tony Sage said "This is a significant milestone as it removes the overhang of shares that has restricted the share price over the past 2 years. We now have clear air."

Yours faithfully

Cape Lambert Resources Limited

Tony Sage

Executive Chairman

Cape Lambert Resources Limited (ASX: CFE) is a fully funded mineral development company with exposure to iron ore, copper, gold, uranium, manganese, lithium and lead-silver- zinc assets in Australia, Europe, Africa and South America.

Australian Securities Exchange

Code: CFE

Ordinary shares 720,686,586

Unlisted Options

7,675,000 ($0.088 exp 18 Dec 2016)

Board of Directors

Tony Sage Executive Chairman

Tim Turner

Non-executive Director

Jason Brewer

Non-executive Director

Melissa Chapman Company Secretary

Cape Lambert Contact

Investor Relations Phone: [phone]

Email: [e-mail]

Australian Enquiries

Professional Public Relations David Tasker

Phone: [phone]

Mobile: [phone]

Email: [e-mail]

www.capelam.com.au

Cape Lambert Resources Limited ABN 71 095 047 920

Corporate - 32 Harrogate Street, West Leederville WA 6007