FSE - Firestone Energy Limited - Firestone`s second JV Agreement with Sekoko now

FSE - Firestone Energy Limited - Firestone`s second JV Agreement with Sekoko now
effective                                                                       
FIRESTONE ENERGY LIMITED                                                        
(formerly Centralian Minerals Limited)                                          
(Registration number: ABN 058 436 794)                                          
(SA company registration number: 200/023973/10                                  
Share code on the JSE: FSE                                                      
Share code on the ASX: FSE                                                      
ISIN: AU000000FSE6                                                              
("FSE" or "the Company")                                                        
FIRESTONE`S SECOND JV AGREEMENT WITH SEKOKO NOW EFFECTIVE                       
Highlight                                                                       
Firestone assumes management control of JV and will achieve 42% earn-in to      
project.                                                                        
Perth-based mining company Firestone Energy Limited (ASX:FSE / JSE:FSE)         
("Firestone" or "the Company") is pleased to announce that the second Joint     
Venture agreement with Sekoko Coal Limited ("Sekoko") announced on 3 July 2009  
is now fully effective.                                                         
All conditions precedent have now been fulfilled and following payments to      
Sekoko (to be made within 5 days), Firestone will earn-in to 42%1 of the project
which covers four properties in the strategic Waterberg coal region of South    
Africa.  The properties (Smitspan 306LQ, Hooikraal 315LQ, Minnasvlakte 258LQ,   
and Massenberg 305LQ) have a combined coal resource tonnage of 2.9Bt (1,122.8Bt 
of saleable coal after washing).                                                
As a result of the Joint Venture becoming effective, Firestone assumes          
management control and the immediate priority of the Joint Venture will be to   
progress the Bankable Feasibility Study over the four properties following the  
recent successful $25 million capital raising.                                  
Note 1 - upon reimbursement of the agreed costs of ZAR19.5 million (approx      
A$3.04 million) in relation to the bankable feasibility study to Sekoko Coal,   
the participation interest of Firestone increases from 30% to approximately 42%.
For more information please contact:                                            
Garth Higgo                                                                     
Chief Executive Officer                                                         
+61 (08) 9381-2755                                                              
www.firestoneenergy.com.au                                                      
Pretoria                                                                        
25 September 2009                                                               
Sponsor and Corporate Advisor                                                   
River Group                                                                     
Date: 25/09/2009 09:53:01 Supplied by www.sharenet.co.za                     
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