ASX Waiver from Listing Rule 14.7 About Firestone Energy Firestone Energy Limited is an 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") independent, Australian exploration and development company listed on the ASX Waiver from Listing Rule 14.7 Australian Stock Exchange Ltd (ASX) and the Johannesburg Stock Exchange (JSE). Firestone Energy has entered into a Joint Venture with Sekoko Resources (Pty) Ltd The Company advises that it has received a waiver from listing rule 14.7 from through which Firestone Energy has the ASX in the following terms: acquired the right to 60% participation interests in the Waterberg Coal Project 1. "Based solely on the information provided, ASX Limited ("ASX") grants located in Lephalale area, Limpopo Province, South Africa. Firestone Energy Limited (the "Company") a waiver from listing rule 14.7 to the extent necessary to permit the Company to issue A$12,500,00 The first stage of the project is to develop the worth of secured convertible notes with a conversion price of A$0.025 to Smitspan mine which has a substantial Ariona Company SA (“New Convertible Notes”) later than the 3 months measured thermal coal resource and to after the date of the shareholders meeting on 5 October 2012 (the develop the Vetleegte mine which is a “Meeting”) at which the issue of the New Convertible Notes was approved, substantial metallurgical coal deposit. on the following conditions: Firestone Energy is committed to becoming a 1.1. The New Convertible Notes are issued no later than 28 March profitable independent coal and energy producer at its projects in South Africa, 2013. thereby making a substantial contribution to the social and economic development of the 1.2. The New Convertible Notes are otherwise issued on the same Lephalale area and South Africa. terms and conditions as approved by shareholders at the Meeting. Corporate Details ASX: FSE JSE: FSE 1.3. The Company releases the terms of the waiver to the market immediately; and Issued Capital: 3,549 million ordinary shares Major Shareholders: Sekoko Resources (Pty) Ltd 2. ASX has considered listing rule 14.7 only and makes no statement as to Linc Energy Ltd BBY Nominees Pty Ltd the Company’s compliance with other listing rules. " Bell Potter Nominees Ltd Directors and Officers Non Executive Directors: Yours sincerely, Mr Tim Tebeila (Chairman) David Perkins (Deputy Chairman) Dr Pius Kasolo Ben Mphahlele Kobus Terblanche David Knox Oren Zohar Chief Executive Officer Jack James www.firestoneenergy.com.au Officers: Tel: Australia (+61 08 9287 4600) Mr David Knox CEO South Africa (+27 11 706 3548) Ms Amanda Matthee CFO Mr Jerry Monzu Company Secretary Johannesburg 26 March 2013 Sponsor Contact: River Group Suite B9, 431 Roberts Road Subiaco, Western Australia 6008 Tel: +61 (08) 9287 4600 Date: 26/03/2013 08:40:00 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.