Cape Lambert Iron Ore Ltd.

Corporate Strategy

The primary objective of the Company is to develop a successful mineral exploration, development and exploitation business. Whilst the Company has been undertaking only exploration and development activities to date, production through exploration and development success and/or acquisition is a key goal.

The Cape Lambert Iron Ore Project is currently the Company’s main focus. A feasibility study has been undertaken by the Company on the Cape Lambert Iron Ore Project which it expects to completed first quarter 2008.

Capitalising on the Board and Management’s collective skills, the Company’s objective is to advance any discoveries to commercial production.

The Company will endeavour to minimise corporate overheads to ensure that funds are directed towards results based exploration and mining, and divesting from existing projects which would be best advanced by other parties.

The Company preserves the importance of its alignment with key shareholders and broad industry and financial contacts that will assist in future exploration and mining endeavours.