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FSE - Firestone Energy Limited - MD transitions to non executive director role 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") MD transitions to Non Executive Director Role Firestone Energy Limited (ASX/JSE: FSE) announced today that Mr John Wallington, the company`s managing director, will be stepping down from this position with effect from 15 June 2010. Mr Wallington has overseen the bankable feasibility study (BFS) and related negotiations for the company`s Waterberg coal project. The BFS is on track for completion in July 2010 and it is expected to show that, subject to market requirements, a viable mine can be established. Mr Wallington will continue to be a board member and will devote such time as is necessary to complete the BFS. The board is engaged in finding a suitable managing director to advance the company into the production stage. Fellow Firestone director John Dreyer said today, "We are grateful for John`s diligent contribution to this exciting project, and we are pleased that he will remain on the board where we will still have access to his vast experience in the coal sector." Further information can be obtained by contacting Mr John Dreyer. John Dreyer Chairman +61 (08) 9381-2755 www.firestoneenergy.com.au +61 (08) 9381-2755 www.firestoneenergy.com.au About Firestone Energy Firestone Energy is an independent Australian exploration company focused on developing coal projects in South Africa. The company is currently exploring the richly endowed Waterberg coal field in the Limpopo Province of South Africa. The Company is committed to value-added growth through becoming an independent coal and energy producer at its projects in South Africa. The Company has entered into three joint ventures with Sekoko Resources, a South African black empowerment company (BEE) and Sekoko has two directors on the Board of Firestone Energy. Corporate Details ASX: FSE JSE: FSE Issued Capital: 2,331 million ordinary shares Major Shareholders: Sekoko Resources (Pty) Ltd Colbern Fiduciary Nominees Ltd Bell Potter Nominees Ltd Directors and Officers: Non Executive Directors: John Dreyer (Chairman) Timothy Tebeila (Deputy Chairman) Amanda Matthee Colin McIntyre Managing Director John Wallington Company Secretary Jerry Monzu Contact: Level 1, 63 Hay Street Subiaco, Western Australia 6008 Tel: +61 (0)8 9381 2755 Web: www.firestoneenergy.com.au Date: 21 May 2010 Company secretary Pretoria 21 May 2010 Sponsor and Corporate Advisor River Group Date: 21/05/2010 08:49:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
