Update re Moonlight Project’s BFS Phase I 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 Australian ISIN: AU000000WRL8 South African ISIN: AU000000FCR2 16 January 2017 Ferrum Crescent Limited (“Ferrum Crescent”, the “Company” or the “Group”)(ASX, AIM, JSE: FCR) Update re Moonlight Project’s BFS Phase I Ferrum Crescent, the ASX, AIM and JSE quoted metals project developer, announces that, with regard to the farm-in and joint venture agreement (the “Agreement”) with Business Venture Investments No. 1709 (Proprietary) Limited (“BVI”), first announced on 14 October 2015, for the production of a bankable feasibility study (“BFS”) for the Company’s Moonlight Iron Project in Limpopo Province, northern South Africa (the “Moonlight Project”), BVI has not completed Phase I of the BFS in accordance with the terms of the Agreement and the extended deadline of 12 January 2017. The Company, while reserving its rights under the Agreement, is in ongoing discussions with BVI and is considering its options in relation to the potential development of the Moonlight Project. The Company will keep the market informed of material developments going forward as appropriate. For further information on the Company, please visit www.ferrumcrescent.com or contact: Ferrum Crescent Limited Justin Tooth, Executive Chairman Grant Button, Director and Company Secretary T: +61 8 9474 2995 UK enquiries: Laurence Read (UK representative) T: +44 7557 672 432 Strand Hanson Limited (Nominated Adviser) Rory Murphy/Matthew Chandler T: +44 (0)20 7409 3494 Beaufort Securities Limited (Broker) Elliot Hance T: +44 (0)20 7382 8300 Bravura Capital (Pty) Ltd (JSE Sponsor) Doné Hattingh T (direct): +27 11 459 5037 The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Date: 16/01/2017 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.