Issue of shares in terms of Salary Sacrifice Share Plan 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: AU000000FCR2 (“Ferrum Crescent” or the “Company ISSUE OF SHARES Ferrum Crescent announces that the Company has today issued 4,078,060 ordinary shares to Messrs Ed Nealon, Robert Hair and Andrew Nealon under the terms and conditions of the Ferrum Crescent Director and Senior Management Fee and Remuneration Sacrifice Share Plan (the “Plan”). The shares have been issued to Messrs Ed Nealon and Robert Hair in lieu of their salaries for the period from 1 April 2012 to 30 November 2012 and for Andrew Nealon for the period from 1 September 2012 to 30 November 2012 at an average weighted average price for the last 5 days prior to each month end. On 8th August 2012, the Company’s shareholders approved the Plan under which Directors and Senior Managers of the Company who are eligible to be offered shares without prospectus disclosure may elect to sacrifice part or all of their directors’ fees or executive remuneration to acquire shares in the Company. The purpose of the Plan is to help align the interests of Directors and Senior Managers with those of shareholders by encouraging Director and Senior Manager share ownership and (where such shares are newly issued) preserve cash in the Company. Further detail on the Plan may be found in the Company’s Notice of General Meeting of Shareholders dated 29 June 2012. A breakdown of each Company officer’s share issue is provided below: 1 Name No. of Average Total % of Shares Price Shareholding Enlarged Issued Post Issue Issued Share Capital Ed Nealon 1,039,532 AUD$0.051 4,184,532 1.27 Robert Hair 2,650,808 AUD$0.051 7,696,118 2.34 Andrew 387,720 AUD$0.039 1,032,133 0.31 Nealon Accordingly, application has been made for 4,078,060 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 14 December 2012. Following admission the Company will have 328,201,385 fully paid ordinary shares in issue. Additionally, the Company has today granted 400,000 options to Mr Vernon Harvey, Chief Operating Officer. The Options have been granted under the terms and conditions of the Ferrum Crescent Ltd Employee Option Plan. The Options will be unquoted, granted for no consideration but will be exercisable at AUD$0.10 on or before 14th December 2015. 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 RFC Ambrian Limited (Nominated Adviser) 2 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 14 December 2012 Sponsor Sasfin Capital (a division of Sasfin Bank Limited) 3 Date: 14/12/2012 09:00:00 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.