Re-Quotation of Firestone's securities 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 RE-QUOTATION OF FIRESTONE’S SECURITIES Australian Stock Exchange Ltd (ASX) and the Johannesburg Stock Exchange (JSE). Firestone Energy Limited (ASX/JSE : FSE) ("Firestone" or the "Company") Firestone Energy has entered into a Joint wishes to advise shareholders that it has been progressing negotiations Venture with Sekoko Resources (Pty) Ltd through which Firestone Energy has with third parties with a view to securing cornerstone investors to provide acquired the right to 60% participation funding for the Company and the Waterberg Coal Project. interests in the Waterberg Coal Project While these negotiations have been progressing the shares of the located in Lephalale area, Limpopo Province, South Africa. Company have been placed in a self imposed suspension until the outcome of the negotiations were known. The first stage of the project is to develop the Smitspan mine which has a substantial During the negotiation stage it has become apparent that new investors measured thermal coal resource and to would prefer to wait until the outcome of the takeover by Waterberg develop the Vetleegte mine which is a Coal Company is known and that an investment path is clear and substantial metallurgical coal deposit. understood. Firestone Energy is committed to becoming a Given that negotiations with investors is unlikely to conclude until the profitable independent coal and energy corporate actions are finalised, the Company requests that the producer at its projects in South Africa, voluntary suspension of its securities be lifted. thereby making a substantial contribution to the social and economic development of the The Company confirms that it has access to A$1.950M in funding Lephalale area and South Africa. (subject to conditions), being the balance of a A$2.2M Share Subscription Agreement, provided by BBY Nominees. The Company has Corporate Details drawn down A$250k from this Share Subscription Agreement. The issue ASX: FSE JSE: FSE of shares pursuant to the agreement may be subject to regulatory and or shareholder approvals, the Company will update the market as Issued Capital: required. 3,549 million ordinary shares Major Shareholders: In addition to this, the Company's joint-venture partner in the Waterberg Waterberg Coal Company Project, Sekoko Resources, is in the process of finalising the terms of an Sekoko Resources (Pty) Ltd interim funding facility. This facility will assist the Company with its Linc Energy Ltd BBY Nominees Pty Ltd contribution for the operational expenses in the project, leading to the finalised Bank Feasibility Study due in June 2013. Directors and Officers The Company wishes to confirm that it remains in compliance with listing Non Executive Directors: Mr Tim Tebeila (Chairman) rule 3.1 and 12.2. David Perkins (Deputy Chairman) Dr Pius Kasolo Ben Mphahlele Yours sincerely, Kobus Terblanche Oren Zohar Jack James Officers: Mr David Knox CEO Ms Amanda Matthee CFO David Knox Mr Jerry Monzu Company Secretary Chief Executive Officer www.firestoneenergy.com.au Contact: Tel: Australia (+61 08 9287 4600) Suite B9, 431 Roberts Road Subiaco, Western Australia 6008 South Africa (+27 11 706 3548) Tel: +61 (08) 9287 4600 About Sekoko Resources Sekoko Resources (Pty) Ltd is a South African-based black-owned energy and minerals company developing the coal, magnetite iron ore and PGMs Projects in the Limpopo Province of South Africa. This includes a significant exploration program and development of the Waterberg Coal Joint Venture Project based on significant Coal Zone Resources. Sekoko is targeting to commence operations in 2012, thus forming the basis for developing a global coal business. Johannesburg 28 May 2013 Sponsor River Group 2 Date: 28/05/2013 10:30:00 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.