Company Information for African Consolidated Resources Plc

AIM-AFCR

www.acrplc.com

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AIM; AFCR

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Company Statement

African Consolidated Resources (ACR) is a mineral exploration company, headquartered in London, with a local head office in Harare, Zimbabwe. ACR listed on the AIM market of the London Stock Exchange on June 30, 2006.

ACR seeks to acquire and prove up top-quality gold, PGE, diamond and base metals assets in Zimbabwe, at discounts to international market value. Our two lead gold projects, the Giant and Pickstone-Peerless mines, historically produced approximately 1 million ounces of gold from high-grade underground operations. There remains excellent potential to exploit the lower-grade halo in all directions around the old mines, and ACR has a target of defining 2-3 million ounces using modern exploration targeting technology.

The two projects currently contain near-surface JORC resources of 813,000 Oz, much of which is expected to be open-pittable using modern mining methods. Depth potential is evidenced at the Pickstone Mine which was historically developed by Rio Tinto down to 750m depth.

In addition ACR have acquired a multitude of brown field and green field properties for other minerals.

ACR is also using leading-edge exploration technologies such as spatial data management software, 3D visualization, new geophysical modeling techniques, innovative geochemistry and risk-managed targeting, to generate a pipeline of exciting new projects across the whole of Zimbabwe, and ultimately the broader region.

Current Operations

Pickstone - Peerless; Gold
Target > 1.5 Moz Pittable; 2 - 3 Moz incl underground. Currently 513,000 Oz Inferred Resource.

Large historical mining centre – two trends 300m apart
Historical production (Rio Tinto & others) of approx 427,000 Oz
Pickstone mined over 1200m strike length, 700m depth in Banded Iron Formation
Peerless developed to 4 levels, but only minor production. Host rock is brecciated dolomitic siltstone, shales.
Total mineralised strike to drill test; >6km
Target Resource; >1.5 MOz to 150m depth, 2 - 3M Oz overall. Excellent indications of deeper underground Resources in hangingwall/footwall of old mines.

The Pickstone-Peerless project has the ability to quickly add Resource/Reserve ounces through systematic drilling. Currently 513,000 Oz Resource at an average grade of 1.5 gms/tonne.

Giant mine & Gadzema Schist Belt; Au
Target >1 Moz Pittable
Currently 300,000 Oz Inferred and Indicated Resource.

Historic Production of 563,000 Oz of gold at 8.2 grammes/tonne
Hosted in the Gadzema schist belt within BIF
Historically an underground ore body
Not completely mined – open to north, south, and at depth
Excellent digital database from drilling in the 1990’s (Anglo-Cambrian JV)
Current JORC Resource stands at 300,000 Oz at an average grade of 2.2 grams /tonne.

One Step / Challenge; Au
Target open pittable Au in sheared basalts and felsics

Snakes Head, Great Dyke; PGE + Au, Cr
Target >30M Oz PGE + Au. Low grade, bulk underground

Perseverance Nickel Mine
Target Nickel in Chakari region. Close to ACR’s Giant Mine. Formerly RTZ mine closed after 8 years as Ni at 1.01% too low with Ni at USD 1500 p/m/t. Now at USD 30,000 - out look brighter, needs pegging and further priority exploration

Chewore project; Ni, Cr, PGE
Target Ni-PGE in layered ultramafic complex

Other Greenstone Belt Targets (Au & Ni)
Targets generated from integrated exploration approach

Diamonds
Grass-roots exploration in areas of known kimberlites.
Ready for production at Marange if legal claim succeeds.

Geographical Spread

Southern Africa with immediate focus on Zimbabwe

Board of Directors and Key Management

Andrew Cranswick, Chief Executive Office

Ian Fisher, Executive Director

Roy Tucker, Group Finance Director and Company Secretary

Michael Kellow, Technical Director

Stuart Bottomley, Non-Executive Director

Company Address

Nettlestead Place,
Nettlestead,
Maidstone
Kent, United Kingdom ME185HA


Telephone:	+441622813442
Facsimile:	+441622814510
Email:	info[at]ACRplc.co.uk
Website:	http://www.acrplc.com

Additional Address/Key Contact

Zimbabwe Office
281A Herbert Chitepo Avenue
Harare
Zimbabwe

Year End

28 February

Nominated Brokers

Ambrian Partners,
London

Nominated Advisors