Ferrum Crescent Limited announced that as part of the refocused strategy, Mr. Justin Tooth has assumed the role of Executive Chairman, based in London, with immediate effect. Dr. Evan Kirby joins the board as Non-Executive Director with immediate effect. Dr. Kirby is a metallurgist with over 30 years of international experience in the mining sector.

He has held senior management positions with Impala Platinum, Rand Mines and Rustenburg Platinum Mines and worked as a director and technical consultant for a number of mining companies. He is currently a director of Bezant Resources plc (AIM) and Nyota Minerals Limited (ASX & AIM). Mr. Merlin Marr-Johnson will advise the Board on all aspects of the Spanish projects on which he has previously worked.

Mr. Tom Revy is resigning from the Company with immediate effect to pursue his other business interests. Mr. Bob Hair, Company Secretary, is also leaving the Company. His duties will be performed going forward by long-standing Non-Executive Director, Grant Button.

Mr. Button has 26 years' experience both as a Company Secretary and as a Director of various Australian companies, particularly in the resources sector.