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Firestone Energy Announces Resource Upgrade and Sekoko Agreement
Friday July 3, 2009, 8:26 am

Original Announcement: Resource Upgrade and Sekoko Agreement

Firestone Energy announced that the Company and Sekoko Coal have agreed to revised commercial terms in respect of their second Agreement over the farms Smitspan 306LQ, Hooikraal 315LQ, Minnasvlakte 258LQ, and Massenberg 305LQ, following a 12% increase in the coal resource tonnage from 995.9Bt to 1,122.8Bt of saleable coal after washing. The Company reported that all coal contained within maximum 130m deep open pit operation from surface; 136 vertical drill holes over four farms - all holes have intersected coal seams and orebody is open in all directions; plans well advanced for commencement of a small scale mining operation by the end of 2009; and negotiations on funding for BFS for large scale (minimum of 18Mtpa) mining operation is making good progress.

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