Update on Funding Negotiations 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 independent, Australian exploration and development company listed on the Australian Stock Exchange Ltd (ASX) and the Johannesburg Stock Exchange (JSE). Update on Funding Negotiations Firestone Energy has entered into a Joint Venture with Sekoko Resources (Pty) Ltd through which Firestone Energy has acquired the right to 60% participation interests in the Waterberg Coal Project Firestone Energy Limited (ASX/JSE:FSE) (“Firestone” or the located in Lephalale area, Limpopo Province, South Africa. “Company”) had previously advised that the Company was in negotiations with third parties regarding future funding for Firestone. The first stage of the project is to develop the Smitspan mine which has a substantial The Company has entered into discussions with interested parties measured thermal coal resource and to and is currently in the early stages of formulating offers which are develop the Vetleegte mine which is a expected to transpire over the next two week period. The Company substantial metallurgical coal deposit. expects to make an announcement regarding the outcome of these Firestone Energy is committed to becoming a negotiations before 26 April 2013. profitable independent coal and energy producer at its projects in South Africa, thereby making a substantial contribution to the social and economic development of the Lephalale area and South Africa. Corporate Details ASX: FSE JSE: FSE Yours sincerely, Issued Capital: 3,549 million ordinary shares Major Shareholders: Sekoko Resources (Pty) Ltd Linc Energy Ltd David Knox BBY Nominees Pty Ltd Bell Potter Nominees Ltd Chief Executive Officer www.firestoneenergy.com.au Directors and Officers Tel: Australia (+61 08 9287 4600) Non Executive Directors: South Africa (+27 11 706 3548) Mr Tim Tebeila (Chairman) David Perkins (Deputy Chairman) Dr Pius Kasolo Ben Mphahlele Kobus Terblanche 16 April 2013 Oren Zohar Johannesburg Jack James Sponsor Officers: River Group Mr David Knox CEO Ms Amanda Matthee CFO Mr Jerry Monzu Company Secretary Contact: Suite B9, 431 Roberts Road Subiaco, Western Australia 6008 Tel: +61 (08) 9287 4600 Date: 16/04/2013 08:30:00 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.