Issue of Equity

27 November 2012

Ferrum Crescent Limited

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

Issue of Shares

Ferrum Crescent announces that the Company has today issued 25,281,620 ordinary shares to its BEE partner Mkhombi AmaMato (Pty) Limited ("AmaMato") to fulfil Stage one of the Company's BEE "flip" transaction.

AmaMato holds 60% of Mkhombi Investments (Pty) Ltd ("Mkhombi Investments") which in turn owns 26% of Turquoise Moon Trading 157 (Pty) Ltd ("TMT"). This equates to ownership of 15.6% of the Company's exploration and development interests (which are all held through TMT). The "flip" is intended to result in the exchange of AmaMato's 15.6 % interest in the Company's projects for 15.6% of the Company's shares.

On 8th August 2012, the Company's shareholders approved the "flip" to be implemented in two stages:

·; Stage one: Completion of the first stage will take place on the third business day after the last date of fulfilment or waiver of the conditions precedent referred to in the Notice of General Meeting (the "Closing Date"). On the Closing Date:

o AmaMato will sell its shares in (and any and all claims it has against) Mkhombi Investments to Nelesco 684 (Pty) Ltd for ZAR 7.5 million; and

o AmaMato will subscribe for new ordinary shares equal to 7.8% of the Company's enlarged issued share capital (the "First Subscription") for ZAR 7.5 million (approximately A$780,000);

·; Stage two: AmaMato will subsequently (within 120 days after the Closing Date), subscribe for a further 7.8% of the Company (the "Second Subscription") for a further ZAR 7.5 million (approximately A$780,000).

Accordingly, application has been made for 25,281,620 Ferrum Crescent shares to be admitted to trading on the Australian Securities Exchange Limited, the AIM market of the London Stock Exchange and on the JSE Limited. Admission is expected to become effective at 09:00am (Australian Eastern Daylight Savings time), 8:00am (UK time) and 09:00am (SA time) on 27 November 2012.

Following admission the Company will have 324,123,325 fully paid ordinary shares in issue.

For more information, please visit www.ferrumcrescent.com or contact: