Issue of shares to BEE partner FERRUM CRESCENT LIMITED (Previously Washington Resources Limited) (Incorporated and registered in Australia and registered as an external company in the Republic of South Africa) (Registration number A.C.N. 097 532 137) (External company registration number 2011/116305/10) Share code on the ASX: FCR Share code on AIM: FCR Share code on the JSE: FCR ISIN: AU000000WRL8 (“Ferrum Crescent” or “the Company”) 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: AmaMato will sell its shares in (and any and all claims it has 1 against) Mkhombi Investments to Nelesco 684 (Pty) Ltd for ZAR 7.5 million; and 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: Australia and Company enquiries: Ferrum Crescent Limited Ed Nealon T: +61 8 9380 9653 Executive Chairman Bob Hair T: +61 414 926 302 Managing Director UK enquiries: Ocean Equities Limited (Broker) Guy Wilkes T: +44 (0) 20 7786 4370 2 RFC Ambrian Limited (Nominated Adviser) Richard Morrison T: +44 (0) 20 3440 6800 Jen Boorer T: +44 (0) 20 3440 6800 South Africa enquiries: Sasfin Capital Leonard Eiser T: +27 11 809 7500 Johannesburg 27 November 2012 Sponsor Sasfin Capital (a division of Sasfin Bank Limited) 3 Date: 27/11/2012 07:05:00 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.