FERRUM CRESCENT LIMITED - AAI staggered payment agreement and Reserve Bank update,

AAI staggered payment agreement and Reserve Bank update,

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")

AAI STAGGERED PAYMENT AGREEMENT AND RESERVE BANK UPDATE, RSA

Ferrum Crescent, the ASX, AIM and JSE quoted iron ore developer, today announces that it has
varied the terms of its agreement with Anvwar Asian Investment (“AAI”) in relation to the purchase
by AAI of a 35% interest in the Moonlight Iron Ore Project (“Moonlight” or the “Project”) located in
Limpopo Province of South Africa.

Under the amended terms, AAI will still pay a total consideration to Ferrum Crescent of US$10m in
return for 35% of Moonlight. The initial payment of US$1m will be paid by mid-March 2014, and
thereafter, commencing in May 2014, AAI will pay US$0.5m each month until the full purchase price
has been paid. In addition, AAI will advance to Ferrum Crescent in Australia an additional US$1.5m
to assist with the bankable feasibility study (“BFS”) costs, by way of payments of US$0.5m per
month. This payment schedule, whereby AAI pays the purchase price and meets the additional
funding obligation of US$1.5m by monthly payments to the Company of US$0.5m per month, will
only be accelerated in the event that the BFS is carried out in less than 24 months. The staggered
payment schedule protects funds from currency fluctuation risk and tracks necessary spending as
the Moonlight BFS continues.

The first payment will be made to Ferrum Crescent by AAI following administrative approvals from
the Reserve Bank of South Africa. This is a standard procedure with regard to the issue of shares by a
South African company to a non-resident, in order to finalise the structure. Further meetings are
scheduled in South Africa to conclude all arrangements on 14 and 15 March 2014.

In a separate announcement made by the Company today, following the new AAI agreement, Mr
Tom Revy, an experienced project manager and developer, has been appointed as Managing
Director of Ferrum Crescent in order to oversee the BFS. With a full mining right granted over
Moonlight, the project will look to support a current 20 year mine life producing 6 million tonnes per
annum blast furnace and direct reduction iron grade pellets for export and domestic sale.

Commenting today Tom Revy, MD, said: “I have joined Ferrum Crescent as the Company has secured
the necessary funding support to progress its BFS at Moonlight. The Moonlight Project is extremely
attractive as it offers the opportunity to bring a new source of high-grade iron ore product into
production in a region with established infrastructure and markets.”

Ed Nealon, Chairman, added: “Once we have concluded the standard processes over foreign
ownership with the Reserve Bank of South Africa, the first payment towards BFS funding will be
made by AAI. The funding we receive from AAI will be put into completion of the Moonlight BFS. I
look forward to working with Tom and our team, as well as our Omani partners, to conclude a
successful study.”

For more information, please visit www.ferrumcrescent.com or contact:
Australia and Company enquiries:

Ferrum Crescent Limited
Ed Nealon T: +61 8 9380 9653
Executive Chairman

Tom Revy T: +61 8 9380 9653
Managing Director

UK enquiries:

Pareto Securities Ltd (Broker)
Guy Wilkes T: +44 (0) 20 7786 4370

RFC Ambrian Limited (Nominated Adviser)
Sarah Wharry/Stuart Laing
T: +44 (0) 20 3440 6800

Ferrum Crescent Limited
Laurence Read (UK representative)
T: +44 7557672432

South Africa enquiries:
Sasfin Capital
Leonard Eiser T: +27 11 809 7500



MOONLIGHT IRON ORE PROJECT

   -   97% owned by Ferrum, with the remainder owned by local community trust
   -   JORC compliant resource of 52.6Mt at 31.3% Fe in the Measured category, 83Mt at 27.4% Fe
       in the Indicated Resource category and 172.1Mt at 25.3% Fe in the Inferred Resource
       category
   -   20 year mine life supported
   -   High resolution aeromagnetic survey confirms exploration upside
   -   Mining Right granted
   -   Metallurgical testwork demonstrates high recoveries and extremely low contaminant levels
   -   Comparative low energy levels likely for production – projects magnetite grain size coarse –
       production of a commercial concentrate will cost less and require less energy
   -   Project concept involves mining and beneficiating at Moonlight, slurry pipeline to area close
       to railhead, manufacture of 6 Mtpa blast furnace and direct reduction iron grade pellets for
       export and domestic sale
   -   Offtake agreement secured with Swiss – based Duferco SA, for sale of 4.5 Mtpa pellets for
       export and first right of refusal in respect of 1.5 Mtpa, if it is not sold domestically
   -   Process engineer is the major engineering and supply company, Danieli & C. Officine
       MeccaniceS.p.A.
   -   Partnership with Omani investor, Anvwar Asian Investment


19 February 2014
Johannesburg

Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

Date: 19/02/2014 03:01:00 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.