Receipt of ASX Waiver

20 June 2012

Ferrum Crescent Limited

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

Receipt of ASX Waiver

Ferrum Crescent Limited (the "Company") (ASX: FCR, AIM: FCR, JSE: FCR) will shortly be releasing a notice of meeting seeking shareholder approval in respect of both:

(a) an issue of shares to Mkhombi AmaMato (Pty) Ltd ("AmaMato") (in exchange for shares held by AmaMato in the Company's project holding subsidiary) pursuant to a series of agreements entered into and announced to ASX in late 2010 ("Agreements"); and

(b) the adoption and issue of shares under a director and senior manager fee and remuneration sacrifice share plan (in lieu of cash fees that would otherwise be paid).

The Company has received waivers from ASX in respect of both (a) and (b) above. Details of the waivers will be set out in the notice of meeting.

In respect of (a) above, the Company has obtained a waiver of listing rule 7.3.2 allowing it to issue 55,236,144 fully paid ordinary shares to AmaMato more than 3 months after the date of the meeting. This waiver has been granted on condition that:

(a) the notice of meeting states that the shares will be issued upon satisfaction of the conditions precedent to the Agreements and in any event no later than 30 November 2012; and

(b) the Company releases the terms of this waiver to the market immediately.

As stated above, the notice of meeting will be released to the market shortly.

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