Appointment of new Chief Executive Officer 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 Appointment of New Chief Executive Officer the Johannesburg Stock Exchange (JSE). Firestone Energy has entered into a Joint Venture with Sekoko Resources (Pty) Ltd The Board of Firestone Energy Limited (ASX/JSE: FSE) (the “Company”, through which Firestone Energy has "FSE" or “Firestone”) wishes to advise of the retirement of Mr David Knox from acquired the right to 60% participation the position of CEO of the Company, effective immediately. interests in the Waterberg Coal Project located in Lephalale area, Limpopo Province, Mr Knox has been CEO of the Company since September 2011 and has overseen South Africa. the recent reorganisation of the Company and the Definitive Feasibility Study (“DFS”) on the Company’s main undertaking, its Joint Venture “interest” in The The first stage of the project is to develop the Waterberg Coal Project in the Limpopo Province of South Africa. Smitspan mine which has a substantial measured thermal coal resource and to The DFS for the project is expected for completion at the end of July 2013. It is develop the Vetleegte mine which is a anticipated that the DFS will confirm the economic viability for developing the substantial metallurgical coal deposit. significant Waterberg Coal Project. The Waterberg Coal Project Joint Venture has a Memorandum of Understanding with Eskom Holdings Limited (“Eskom”), the Firestone Energy is committed to becoming a South African electricity generation and supply company to provide 10 mtpa of coal profitable independent coal and energy from the project. It is expected that the project will commence delivery of coal to producer at its projects in South Africa, Eskom in Q1, 2015. thereby making a substantial contribution to the social and economic development of the The Board wishes to thank Mr Knox for his contributions over the period. During Lephalale area and South Africa. his tenure as CEO, the Company has made significant progress towards its objective of becoming a significant coal producer in The Waterberg coal district of Corporate Details South Africa. Mr Knox will continue in his capacity as a non-executive director of ASX: FSE the Company. JSE: FSE The Board of FSE is also pleased to advise that Mr Stephen Miller has been Issued Capital: 3,549 million ordinary shares appointed to the position of CEO. Major Shareholders: Mr Miller has significant experience in the financing and development of large The Waterberg Coal Company Ltd scale project developments of this nature; which experience will be drawn upon as Sekoko Resources (Pty) Ltd the Waterberg Coal Project Joint Venture progresses towards the completion of Linc Energy Ltd the DFS, the project financing and expected project start up in Q4, 2013. BBY Nominees Pty Ltd Directors and Officers Non Executive Directors: Tim Tebeila (Chairman) Dr Pius Kasolo Ben Mphahlele Kobus Terblanche Timothy Tebeila Brian McMaster Chairman David Knox Firestone Energy Limited Officers: www.firestoneenergy.com.au Mr Stephen Miller CEO and Executive Tel: Australia (+61 08 9287 4600) Director South Africa (+27 11 706 3548) Ms Amanda Matthee CFO Mr Jerry Monzu Company Secretary 4 July 2013 Johannesburg Sponsor River Group Contact: Suite B9, 431 Roberts Road Subiaco, Western Australia 6008 Tel: +61 (08) 9287 4600 Web: www.firestoneenergy.com.au Date: 04/07/2013 08:50:00 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.