FERRUM CRESCENT LIMITED - Study manager appointed and work stream update

Study manager appointed and work stream 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: AU000000WRL8
("Ferrum Crescent")

BFS Study Manager Appointment and Workstream Update

Ferrum Crescent, the ASX, AIM and JSE quoted iron ore developer today announces that
Mr Ed Aylmer has been appointed as the Bankable Feasibility Study (“BFS”) manager for the
Moonlight Iron Ore Project in northern South Africa.

Mr Alymer has more than 30 years’ experience in the mining and mineral processing
industries and has acted as senior study manager for project developments on behalf of
Severstal, Vendanta, Goldfields and Ivanplats. Mr Alymer is based in Johannesburg, South
Africa.

The Moonlight Iron Ore Project (“Moonlight”) is already significantly advanced towards
development with a JORC (2012) compliant resource of 307.7mt of metallurgical iron ore, a
30 year Mining Right granted, an environmental licence (EIA) in place for the mining area
and metallurgical test work indicating the potential for production of high quality pellets in
excess of 69% iron. Moonlight is also located in a position where it can take advantage of
existing rail, power and port infrastructure that is in place, all elements of which are also
undergoing significant upgrade programmes by the Government of South Africa.

Following the May 2014 review of the BFS by Tom Revy, Managing Director of Ferrum
Crescent, it was determined that Feasibility requirements that need to be completed include:

   -   geotechnical drilling, mine design, mine reserve estimation based on certain cut-off
       estimates and economic criteria and final estimate of mining costs from an
       adjudicated tender process for a contract mining will to be concluded;

   -   finalising pipeline route for environmental impact study completion;

   -   optimising pipeline design and costing (finalising rheology / density and particle size
       distribution)

   -   finalising negotiations with Eskom (power) for capital costs and tariffs once
       mining/process demand/schedules are finalised for the anticipated 110-120MW
       needed; and

   -   finalising negotiations with Transnet (rail and port) for planning and costing loading /
       unloading facilities, wagon and locomotive requirements and port handling and
       storage costs and Transnet reviewing project infrastructure needs as part of
       feasibility component and finalising commercial arrangements, as well as securing an
       area and connection at the port (Richards Bay).

With immediate effect Mr Alymer is initiating a new drilling programme at Moonlight to
upgrade the resource in key areas ready to begin an advanced metallurgical programme to
determine costs for construction of a beneficiation plant and manufacturing facility for
processing high-grade pellets. The study manager will also work with the board on current
discussions with several groups to secure a financing partnership that will enable Ferrum
Crescent to complete the BFS.

Commenting today Tom Revy, Managing Director of Ferrum Crescent said: “Having Ed
Alymer on board is the first stage in completing the Moonlight feasibility study. The Moonlight
Project has the benefit of being in a developed infrastructure environment with the capability
of producing a high-grade iron product together with a Government proactively encouraging
investment within key commodity areas such as iron ore and downstream processing such
as pellets. I look forward to working with Ed on progressing the next stage of the BFS over
the coming weeks.”

For more information, please visit www.ferrumcrescent.com or contact:


Australia enquiries:
Ferrum Crescent Limited
Tom Revy T: +61 8 9367 5681
Managing Director


UK enquiries:
Ferrum Crescent Limited
Laurence Read (UK representative)
T: +44 7557672432
RFC Ambrian Limited (Nominated Adviser)
James Biddle/Andrew Thomson
T: +44 (0) 20 3440 6800

South Africa enquiries:
Sasfin Capital
Sharon Owens T: +27 11 809 7500


8 December 2014

Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

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