Changes to the board 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") Board Changes Ferrum, the ASX, AIM and JSE Limited quoted iron ore developer today announces the resignation of two of its non-executive directors, Mr Ted Droste and Mr Kofi Morna, effective as of the close of business on 31 December 2014. As the Company moves into active development of the Moonlight Iron Ore Project bankable feasibility study during 2015 both Mr Droste and Mr Morna are resigning to pursue other interests. Commenting today Ed Nealon, Chairman, said: "On behalf of the rest of the Ferrum Board, I wish to express my extreme gratitude to both Ted and Kofi for their contributions to Ferrum and its business. I also wish them both all the best in their business and personal pursuits.” 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 12 December 2014 Sponsor Sasfin Capital (a division of Sasfin Bank Limited) Date: 12/12/2014 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.