Exercise of Options and Issue of Equity

28 July 2016

Ferrum Crescent Limited

("Ferrum Crescent", the "Company" or the "Group")(ASX, AIM, JSE: FCR)

Exercise of Options and Issue of Equity

Ferrum Crescent, the ASX, AIM and JSE quoted metals project developer, announces that it is issuing 66,874,816 new ordinary shares of no par value each in the capital of the Company ("Ordinary Shares") as a result of the exercise of, in aggregate, 66,874,816 options exercisable at a price of 0.165 pence per share (the "Option Shares"). Such options were granted in connection with the Company's placing and subscription announced on 27 April 2016.

Application will be made for quotation of the Option Shares on the Australian Securities Exchange and the JSE Limited, and has been made to the London Stock Exchange plc for admission to trading on AIM ("Admission"). It is expected that Admission of the Option Shares will become effective and that dealings in the Option Shares will commence on AIM at 8.00 a.m. on 29 July 2016. The Option Shares will be fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares. Following the issue of the Option Shares and the placing shares announced on 25 July 2016, the total issued ordinary share capital of the Company will comprise 1,536,893,184 Ordinary Shares.

For further information on the Company, please visit www.ferrumcrescent.com or contact:

Ferrum Crescent Limited

Justin Tooth, Executive Chairman

Grant Button, Company Secretary

T: +61 8 9474 2995

UK enquiries:

Laurence Read (UK representative)

T: +44 7557 672 432

Strand Hanson Limited (Nominated Adviser)

Rory Murphy/Matthew Chandler

T: +44 (0)20 7409 3494

Beaufort Securities Limited (Broker)

Elliot Hance

T: +44 (0)20 7382 8300

Bravura Capital (Pty) Ltd (JSE Sponsor)

Doné HattinghT (direct): +27 11 459 5037

This announcement contains inside information.