Appointment of Lead Financial Adviser

Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, is pleased to announce that it has appointed Northcott Capital Limited ("Northcott"), in partnership with Oval Advisory Limited ("Oval"), as lead financial adviser with respect to the financing of Phase 1 of the Balasausqandiq Project.

Northcott is an independent financial adviser operating exclusively in the natural resources sector, comprising investment bankers, senior risk management professionals, geologists, mining engineers and financial modellers that have collectively raised over US$15 billion for clients operating across 40 countries, including Kazakhstan.

Oval is an independent group based in London, delivering strategic, technical and financing advisory services to producers and consumers of raw materials. Oval has long-standing access to the raw materials sector and potential funding partners, including traditional banking relationships and alternative providers of capital, as well as a deep knowledge of, and a transactional track record in, key mining jurisdictions.

Commenting on the appointment, Nick Bridgen, CEO of Ferro-Alloy Resources, said:

"The appointment of Northcott and Oval as lead financial adviser for the financing of Phase 1 of the Balasausqandiq Project is an important milestone as we progress towards construction. Their combined wealth of expertise and experience across the natural resources sector, and in Kazakhstan as a jurisdiction, will greatly benefit the Company as we look to advance these important financing arrangements."