geologist confirms indicated resource, page-6

Spring soon.

Cape Lambert indicated resource 300m tonnes
10:16, Friday, July 13, 2007

Sydney - Friday - July 13: (RWE Australian Business News) -
Iron ore exploration and development company, Cape Lambert Iron Ore
(ASX:CFE) reporst the outcome of RSG's independent verification of a
minimum Indicated Mineral Resource was 300 million tonnes at
its 100% owned Cape Lambert iron ore project, located in the Pilbara
region, Western Australia.
On 27 March, the Company announced it had entered into a sale
agreement with Mr Ding Liguo to sell 70% of the Project for
approximately AUD$250 million in cash.
The sale agreement requires the satisfaction of several
conditions precedent including verification by an independent geologist
of a minimum Indicated Mineral Resource of 300 million tonnes.
As advised in the Company's Quarterly Report, released on 30
April, RSG was appointed as the independent geologist.
RSG has now completed its estimate and advised the Company of
its findings.