Update on Second Stage Completion for the Financial Restructure 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 March 2013 independent, Australian exploration and development company listed on the Australian Stock Exchange Ltd (ASX) and Update on Second Stage Completion for the Financial Restructure the Johannesburg Stock Exchange (JSE). Firestone Energy has entered into a Joint Venture with Sekoko Resources (Pty) Ltd through which Firestone Energy has Firestone Energy Limited (ASX/JSE: FSE) (the “Company” or “Firestone”) wishes acquired the right to 60% participation to advise that the second stage of Completion of the financing to be provided by interests in the Waterberg Coal Project Ariona SA (“Ariona”) through the issue of new secured convertible notes located in Lephalale area, Limpopo Province, scheduled to occur on 28 February 2013, did not take place on that day. The South Africa. Company and Ariona are currently in discussions in relation to the rescheduling of second stage of completion. The Company will make a further announcement The first stage of the project is to develop the once a new date for the second stage of completion has been set Smitspan mine which has a substantial measured thermal coal resource and to Yours sincerely, develop the Vetleegte mine which is a substantial metallurgical coal deposit. Firestone Energy is committed to becoming a profitable independent coal and energy David Knox producer at its projects in South Africa, Chief Executive Officer thereby making a substantial contribution to www.firestoneenergy.com.au the social and economic development of the Tel: Australia (+61 08 9287 4600) Lephalale area and South Africa. South Africa (+27 11 706 3548) Corporate Details ASX: FSE JSE: FSE Issued Capital: 3,549 million ordinary shares Major Shareholders: Sekoko Resources (Pty) Ltd Linc Energy Ltd BBY Nominees Pty Ltd Bell Potter Nominees Ltd Directors and Officers Non Executive Directors: Mr Tim Tebeila (Chairman) David Perkins (Deputy Chairman) Dr Pius Kasolo Ben Mphahlele Kobus Terblanche David Hillier Oren Zohar Jack James Officers: Mr David Knox CEO Ms Amanda Matthee CFO Mr Jerry Monzu Company Secretary Contact: Suite B9, 431 Roberts Road Subiaco, Western Australia 6008 4 March 2013 Sponsor River Group Date: 04/03/2013 07:17:00 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.