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A.C.N. 097 532 137

Suite 6, Ground Floor, South Mill Centre, 9 Bowman St

Share code FCR on the ASX, AIM and the JSE

SOUTH PERTH WA 6151, AUSTRALIA

www.ferrumcrescent.com

PO Box 189, South Perth, WA 6951

info@ferrumcrescent.com

Tel: +61 8 9474 2995 Fax: +61 9474 2937

Use of Proceeds and Update re Option to Acquire Interests in Lead-Zinc

Exploration Projects in Spain

The Company intends to use the net proceeds from the Subscription for its

general working capital purposes and to maintain its option to potentially

acquire 100 per cent. of GoldQuest Iberica, S.L. (“GoldQuest”), details of which

were announced on 16 February 2016 (the “Option”). GoldQuest, a private

company incorporated in Spain, owns 100 per cent. of two lead-zinc exploration

projects in the provinces of Leόn and Galicia, in historic Spanish mining areas

(the “Iberian Projects”). In order to maintain the Company’s exclusive Option,

valid until 31 July 2016, it is required to make two cash payments to TH

Crestgate GmbH (each of £7,500) in March and April 2016, whilst the Company

conducts its due diligence on GoldQuest and the Iberian Projects.

With the initial staged option fee payment now having been settled in part

shares and part cash, and the oversubscribed Subscription to be completed

utilising the Company’s existing share capital authorities, the Company will

shortly seek shareholder approval for an increase in its share capital authorities

to enable it to,

inter alia

, be able to satisfy the cash and share consideration

payable on the potential exercise of the abovementioned Option and raise

additional funds for general working capital purposes, including a potential

structured work programme across the Iberian Projects with the objective of

establishing a maiden JORC Code compliant resource estimate at both

projects, the rapid establishment of metallurgical characteristics and a viable

metals separation and processing profile.

Notice of General Meeting

A general meeting of shareholders of Ferrum Crescent will be held at 11.00

a.m. (Perth time) on 6 April 2016 at The Hovia Room, Metro Hotel Perth, 61

Canning Highway, South Perth, Western Australia 6151, for the purpose of

considering and, if thought fit, passing resolutions covering the following

matters:

1. Ratification of the issue of 88,303,061 shares that have been issued as part

of the Subscription referred to above, in order to restore the Company’s

placement capacity that is accorded it under ASX Listing Rule 7.1;

2. Shareholder approval to issue up to a further 500,000,000 shares to

investors at an issue price (to be calculated by reference to market price)

for working capital purposes and the potential exercise of the Company’s

option to acquire GoldQuest and conduct exploration activities in relation to

the Iberian Projects;

3. Shareholder approval to issue a further 100,000,000 shares in the event

that the Company exercises its option to acquire GoldQuest; and

4. Shareholder approval for Mr Tom Revy (the Company’s Managing Director)

to participate in the proposed private placing referred to in point 2 above.