Anvar Asian investment due diligence concluded FERRUM CRESCENT LIMITED (Incorporated and registered in Australia and registered as an external company in the Republic of South Africa) (Registration number A.C.N. 097 532 137) (External company registration number 2011/116305/10) Share code on the ASX: FCR Share code on AIM: FCR Share code on the JSE: FCR ISIN: AU000000FCR2 ("Ferrum Crescent", the "Company" or the "Group") ANVWAR ASIAN INVESTMENT DUE DILIGENCE CONCLUDED HIGHLIGHTS - The AAI internal due diligence process is now complete and the Company has been informed all key conditions have been met or waived - Structuring and shareholders’ agreements now underway between Company and AAI - Following completion of agreements first payment of US$1m due to be made by 15 January 2014 - On 23 September 2013, Ferrum Crescent announced signing of conditional, legally binding letter of intent (“LOI”) with Anvwar Asian Investment (“AAI”) to progress Moonlight BFS Development - Under the LOI, AAI will pay US$10m to acquire a 35% shareholding in Ferrum Iron Ore (Pty) Ltd, which holds the mining right over the three farms that contain the Moonlight Deposit, and US$3.5 additional funds to contribute to BFS costs Ferrum Crescent, the ASX, AIM and JSE quoted iron ore developer, today announces that the internal due diligence undertaken by Omani based Anvwar Asian Investment has now concluded for the acquisition of a 35% stake in the Moonlight Iron Ore Project. The conditions precedent to the LOI have been met or waived, and the parties will now finalise the structure of the transaction and conclude the relevant shareholders’ agreement. This is due for completion during January 2014, when the first payment of US$1m will be made, the US$9m remainder of the purchase price being payable by the end of February 2014. Ferrum Crescent will use the proceeds from the transaction, together with a further US$3.5 million to be contributed by AAI towards costs in a staged manner, for the completion of the Company’s Bankable Feasibility Study (“BFS”) for the Moonlight Iron Ore Project. Commenting today Ed Nealon, Chairman, of Ferrum Crescent said: “The conclusion of the due diligence by AAI allows both groups to complete structuring agreements and secure funds that will allow the Moonlight BFS to be concluded. Working with AAI we shall look to progress the BFS in early 2014 and move towards our goal of creating a new high-grade iron-ore product source located near infrastructure in Northern South Africa.” Mr Anvwar Al Balushi, who is Chairman of AAI, will travel to South Africa in early 2014 to sign the shareholders’ agreement. Mr Al Balushi stated: “The Moonlight Project is in some ways a different investment from ones that Anvwar Asian Investment has made in the past. Through this transaction and our relationship with Ferrum Crescent, however, we know there will be significant benefits to the owners, South Africans and also importantly for us to Omanis, as our strategic plans are carried out.” For more information, please visit www.ferrumcrescent.com or contact: Australia and Company UK enquiries: enquiries: Ferrum Crescent Limited Ocean Equities Limited Ed Nealon (Broker) T: +61 8 93809653 Guy Wilkes Executive Chairman T: +44 (0) 207786 4370 Bob Hair RFC Ambrian Limited Managing Director (Nominated Adviser) T: +61 414 926 302 Sarah Wharry/ Jen Boorer T: +44 (0) 203440 6800 Ferrum Crescent Limited Laurence Read (UK representative) T: +44 7557672432 South Africa enquiries: Sasfin Capital Leonard Eiser T: +27 11 809 7500 29 November 2013 Johannesburg Sponsor Sasfin Capital (a division of Sasfin Bank Limited) Date: 29/11/2013 09:00:00 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.