Shareholder Update Regarding the Range River Offer FIRESTONE ENERGY LIMITED (Incorporated in Australia) (Registration number ABN 058 436 794) Share code on the JSE Limited: FSE Share code on the ASX: FSE ISIN: AU000000FSE6 (SA company registration number 2008/023973/10) ("FSE" or "the Company") About Firestone Energy Firestone Energy Limited is an 4 February 2013 independent, Australian exploration and development company listed on the Australian Stock Exchange Ltd (ASX) and Firestone advises shareholders to take no action following lodgement of the Johannesburg Stock Exchange (JSE). the Bidder’s Statement by Range River Gold Limited Firestone Energy has entered into a Joint Venture with Sekoko Resources (Pty) Ltd through which Firestone Energy has acquired the right to 60% participation The Board of Firestone Energy Limited (ASX/JSE: FSE) (the “Company” or interests in the Waterberg Coal Project “Firestone”) has reaffirmed its advice to shareholders to TAKE NO ACTION on the located in Lephalale area, Limpopo Province, proposed takeover bid from Range River Gold Limited (ASX: RNG) (“Range River”) South Africa. following receipt of the Bidder’s Statement on 30 January 2013. The first stage of the project is to develop the On 17 December 2012 Range River announced an unsolicited, conditional Smitspan mine which has a substantial proposal to acquire all of the ordinary shares in Firestone by way of an off market measured thermal coal resource and to develop the Vetleegte mine which is a takeover offer. In summary, under the Range River offer Firestone shareholders substantial metallurgical coal deposit. will be offered one (1) Range River share for every two (2) Firestone shares (“Offer”). Firestone Energy is committed to becoming a profitable independent coal and energy The Firestone Board will review the Bidder’s Statement and respond formally producer at its projects in South Africa, through a Target’s Statement in due course. Until the Firestone Board provides thereby making a substantial contribution to Firestone shareholders with a formal recommendation we advise all Firestone the social and economic development of the shareholders to TAKE NO ACTION. Lephalale area and South Africa. Corporate Details In assessing the Offer, or any alternative proposals, the Firestone Board will focus ASX: FSE on maximising Firestone shareholder value. JSE: FSE Issued Capital: A copy of the Bidder’s Statement is expected to be sent to Firestone shareholders 3,114 million ordinary shares by Range River in the coming weeks, after which the Offer will be required to Major Shareholders: remain open for at least one month. The Bidder’s Statement is not a Firestone Sekoko Resources (Pty) Ltd document. Linc Energy Ltd BBY Nominees Pty Ltd Bell Potter Nominees Ltd The Firestone Board will keep Firestone shareholders fully informed of further developments as they occur and will provide a formal recommendation on the Directors and Officers Offer in ample time for Firestone shareholders to make an informed decision. Non Executive Directors: Mr Tim Tebeila (Chairman) Yours sincerely, David Perkins (Deputy Chairman) Dr Pius Kasolo Ben Mphahlele Kobus Terblanche Officers: David Knox Mr David Knox CEO Chief Executive Officer Ms Amanda Matthee CFO www.firestoneenergy.com.au Mr Jerry Monzu Company Secretary Tel: Australia (+61 08 9287 4600) South Africa (+27 11 706 3548) Contact: Suite B9, 431 Roberts Road Subiaco, Western Australia 6008 04 February 2013 Sponsor River Group Date: 04/02/2013 10:45:00 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.