Takeover offer announced by Range River Gold Limited 30 January 2013

With reference to the Announcement relating to the takeover offer from Range River Gold Limited referred to in the SENS announcement on 18 December 2012. The Board of Firestone Energy Limited (ASX/JSE: FSE) (the "Company" or "Firestone") advises that on 30 January 2013, the board received a formal Bidders Statement from Range River Gold Limited.

Range River Gold Limited (ASX: RNG) ("Range River") announced to the ASX an unsolicited, conditional proposal to acquire all of the ordinary shares in Firestone by way of an off market takeover offer (the "Range River Offer"). Interested shareholders are referred to the Range River website or www.asx.com.au where they can obtain the full offer.

In summary, under the Range River Offer Firestone shareholders will be offered one (1) Range River share for every two (2) Firestone shares.

The Board is unanimous in its view that Firestone shareholders should take no action and not make any decision in relation to their shareholding in the Company until the Board has reviewed and has had an opportunity to consider the Range River Offer. Following careful consideration of the Range River Offer, the Board will determine and advise Firestone shareholders of its recommendation.

The Range River Offer will not open for acceptance until its Bidder's Statement is despatched to Firestone shareholders and must remain open for at least one month.

The Board's focus will be on maximising value for shareholders and the Range River Offer will be considered in that context. The Board will keep shareholders informed of any further developments and will provide updates to the market as appropriate. The Company has retained Kelly & Co. Lawyers as its legal adviser and BBY Limited as its corporate adviser in relation to this matter.

Sponsor
River Group

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