Grant of Options

4 October 2016

Ferrum Crescent Limited

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

Grant of Options

Ferrum Crescent, the ASX, AIM and JSE quoted metals project developer, announces that, following receipt of shareholder approval on 29 September 2016, and further to the Company's announcement of 25 July 2016, the Company has granted 187,226,485 new unlisted options to investors who subscribed for Placing Shares on a one for one basis (the "Options") and 18,722,649 new unlisted options to Beaufort Securities Limited (the "Broker Options") as settlement of certain corporate broking services fees. The Options and Broker Options are exercisable at 0.30 pence per share on or before 29 July 2018.

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