Feasibility study delivered to Eskom and final burn test nearing completion FIRESTONE ENERGY LIMITED (Incorporated in Australia) About Firestone Energy Firestone Energy Limited is an (Registration number ABN 058 436 794) independent, Australian exploration and development company listed on the Share code on the JSE Limited: FSE Australian Stock Exchange Ltd (ASX) and Share code on the ASX: FSE the Johannesburg Stock Exchange (JSE). Firestone Energy has entered into a Joint ISIN: AU000000FSE6 Venture with Sekoko Resources (Pty) Ltd through which Firestone Energy has (SA company registration number 2008/023973/10) acquired the right to 60% participation interests in the Waterberg Coal Project ("FSE" or "the Company") located in Lephalale area, Limpopo Province, South Africa. FEASIBILITY STUDY DELIVERED The first stage of the project is to develop the TO ESKOM AND FINAL BURN Smitspan mine which has a substantial measured thermal coal resource and to TEST NEARING COMPLETION develop the Vetleegte mine which is a substantial metallurgical coal deposit. Highlights Firestone Energy is committed to becoming a Eskom Feasibility Study delivered profitable independent coal and energy producer at its projects in South Africa, Final bulk sample burn test presently underway thereby making a substantial contribution to Final Coal Supply Agreement negotiations continue the social and economic development of the Lephalale area and South Africa. The Waterberg Coal Joint Venture Partners (WCJVP) are very pleased to report that they have completed a Feasibility Study (Study) into the Corporate Details development of an opencast mining operation to produce 10 million tonnes of ASX: FSE JSE: FSE coal (Product) per annum for Eskom for an initial term of 30 years. Issued Capital: 3,549 million ordinary shares The Study was completed pursuant to the Memorandum of Understanding (MOU) with Eskom for the proposed Coal Supply Agreement (CSA) and is Major Shareholders: confidential. The Waterberg Coal Company Ltd Directors and Officers The WCJVP are presently updating the Study which will be released as a full Non Executive Directors: Bankable Feasibility Study (BFS) on completion. Brian McMaster George Oupa Magashula A condition precedent of the CSA is for Eskom to complete a burn test on a Officers: bulk sample of approximately 200,000 tonnes of Product. Eskom has now Mr Stephen Miller CEO and Executive taken delivery of this bulk sample and it is expected that this Product will be Director Ms Amanda Matthee CFO tested over the course of the next 30 days. Mr Jonathan Hart Company Secretary Discussions between the WCJVP and Eskom as to the terms of the CSA are Contact: well advanced. Level1, 330 Churchill Avenue Subiaco Western Australia 6008 Tel: +61 (08) 9200 4465 Fax:+61(08) 9200 4469 Yours sincerely Web: www.firestoneenergy.com.au Stephen Miller Chief Executive Officer www.firestoneenergy.com.au Johannesburg 06 February 2014 Sponsor River Group Date: 06/02/2014 02:15:00 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.