Company Information for African Eagle Resources

AIM-AFE

www.africaneagle.co.uk

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AIM; AFE

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Company Statement

Welcome to African Eagle Resources plc We are a diversified mineral exploration and development company operating in eastern and central Africa.

Our principal advanced projects are the Dutwa nickel laterite discovery in Tanzania, where the Company announced a JORC resource at the end of 2008 and favourable metallurgical results in February 2009, and the Mkushi Copper Mines project in Zambia, which is at Feasibility Study stage.

We have also defined a half million ounce gold resource at the Miyabi project in Tanzania, and we are evaluating a second promising nickel laterite deposit in Tanzania. Behind these lies a portfolio of promising earlier stage gold and base metal projects, including two projects in the Zambian Copperbelt.

Our strategy is to acquire and explore promising targets and then to bring in development partners with the resources and track records to take mines into production.

The Company has a highly motivated team, proven management, an experienced board and has recently signed up industry partners with records of taking mines into production. African Eagle’s principal assets are the Dutwa nickel laterite discovery in Tanzania (where the Company announced a JORC resource at the end of 2008 and favourable metallurgical results in early 2009), and the Mkushi Copper Mines project in Zambia (for which the components of a Feasibility Study were completed in Q4 2008).

African Eagle also holds a large well-balanced portfolio of promising earlier stage gold and base metal projects, including two projects in the Zambian Copperbelt and the Eagle Eye iron-oxide copper gold project, also in Zambia.

Joint ventures with industry partners and, in time, the revenue streams from our advanced projects, should finance future exploration and new discoveries.

Current Operations

Projects Overview:
African Eagle's principal advanced projects are the Dutwa nickel laterite discovery in Tanzania (where the Company announced a JORC resource at the end of 2008 and favourable metallurgical results in early 2009), and the Mkushi Copper Mines project in Zambia (for which the components of a Feasibility Study were completed in Q4 2008).

African Eagle has also defined a gold resource of half a million ounces at the Miyabi gold project in Tanzania, and is evaluating a second promising nickel laterite deposit which it recently discovered in Tanzania. The Company holds a well-balanced portfolio of promising earlier stage gold and base metal projects, including the Ndola and Mokambo projects in the Zambian Copperbelt.

Projects in Zambia:
Mkushi Project
African Eagle is developing former open pit and underground mines at Mkushi Copper Mines in central Zambia in joint venture with CGA Mining Limited. A pre-feasibility report was completed in January 2008 and the components of a definitive feasibility study were in place in Q4 2008. The decision to develop the mine has been deferred, however, in view of the turbulent global markets and uncertain fiscal regime in Zambia.

Mokambo Project
The Mokambo Project contains mineral deposits which were discovered in the 1950s. It is situated 90km northeast of Ndola in the Zambian Copperbelt and forms a narrow strip running along the border between Zambia and the Democratic Republic of Congo (DRC). African Eagle has conducted surface surveys and drilling, and has computerised all the previous exploration data.

Ndola Project
African Eagle has identified four copper targets within the large Ndola Project, which is located in the southern part of Central African Copperbelt in Zambia. One of these is a deposit known since the 1960s; the other three were identified from the Company’s own exploration results.

Sasare Eagle Eye Project
The Sasare Eagle Eye Copper-Gold Project, which lies in eastern Zambia, 450km from the capital city, Lusaka, contains a large iron-oxide-copper-gold (IOCG) system and Karoo-hosted uranium mineralisation.

Lunga Project
The Lunga Project contains multiple targets including copper-gold and uranium mineralisation. The project is located in the Lunga Basin in Central Zambia, approximately 320km northwest of the capital city, Lusaka and 200km southwest of the Zambian Copperbelt.

Projects in Tanzania:
Dutwa Project
African Eagle announced a JORC resource at the Dutwa laterite project in December 2008, amounting to 340,000t of contained nickel, and promoted Dutwa to become its top-priority project. The Company reported highly favourable metallurgical results in early 2009. The Project is located in the Kilimafedha greenstone belt of the Lake Victoria Goldfields, 100km east of Mwanza, and has potential for the gold and platinum group elements as well as the nickel.

Miyabi Project
The Miyabi Gold Project, in the Lake Victoria Goldfield of Tanzania, was discovered by African Eagle’s own geochemical prospecting team. Although African Eagle has drilled only part of the system to date, it has defined a JORC-compliant resource of 520,000oz of gold.

Zanzui Project
The latest drill results show that parts of the Zanzui layered basic complex have a nickel-enriched laterite blanket, with grades and thicknesses similar to those at Dutwa, suggesting that Zanzui may host another significant laterite deposit. The area also has potential for platinum.

Rupa Project
The Rupa Gold Project lies in the Musoma region of the Lake Victoria Goldfields (LVGF). African Eagle is mapping and evaluating shear-zone hosted gold mineralisation in the project area, known from past drilling and artisanal mining. Results so far are promising.

Igurubi Project
The Igurubi Gold Project, located in the south eastern Lake Victoria Goldfields, contains several parallel gold-bearing shear zones in a contact between granites and greenstone rocks. From its widely-spaced drilling to date, the Company believes that the area has potential for at least 250,000oz of gold, probably much more.

Projects in Mozambique
African Eagle has 5 projects in Mozambique, two of which are being explored by farm-in partners.

The Majele Project, in the Alto Ligonha pegmatite belt, was recently optioned to Pacific Wildcat Resources Corporation, which can acquire an 80% interest in the project by exploring for tantalum, tin and niobium deposits. Sampling in late 2008 identified several promising targets.

Work on the Fingoe Project in western Mozambique is continuing with partner African Queen Mining, formerly Pan African Mining Corporation. Skarn-like copper-gold mineralisation and iron occurrences are reported in the area, suggesting that the area may be prospective for intrusion related or IOCG type mineralisation.

The Sena project area in central Mozambique is prospective for uranium. A radon emanation survey, still underway, has already identified significant anomalies.

Uranium Projects
African Eagle’s Uranium Division holds the uranium rights to eight targets in Tanzania, Zambia and Mozambique, including calcrete and playa type deposits in Neogene to Recent sediments, sandstone hosted deposits of Karoo and Cretaceous ages and vein deposits in Ubendian basement rocks.

Geographical Spread

African Eagle has exploration projects in Tanzania, Zambia and Mozambique

Board of Directors and Key Management

John Park - Chairman

Mark Parker - Managing Director

Bevan Metcalf - Finance Director

Euan Worthington - Non-Executive Deputy Chairman

Geoffrey Cooper - Non-Executive Director

Chris Davies – Operations Directors

Company Address

2nd Floor, 6-7 Queen Street
London, United Kingdom EC4N 1SP


Telephone:	+44 20 72 48 60 59
Facsimile:	+44 20 76 91 77 45
Email:	info[at]africaneagle.co.uk
Website:	http://www.africaneagle.co.uk

Capital

Issued ordinary shares; 212,540,128
Options and Warrants; 19,400,000
Fully diluted; 231,940,128
Authorised ordinary shares; 600,000,000

Annual General Meeting

June

Year End

31 December

Nominated Brokers

Seymour Pierce
Nedbank (SA)

Nominated Advisors

Seymour Pierce

Major Shareholders

Holder	Shares	%
RAB	24,800,000	11.67%
Stanlib	23,191,260	10.91%
JP Morgan Asset Managementl	15,906,461	7.48%
Directors	12,553,355	5.91%
Phelps Dodge	10,089,047	4.75%
TWP Finance	9,515,499	4.48%
Merck Finck6,752,300	3.18%
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9 holders with 1% to 3%	39,247,113	18.47%
Approx 915 holders with <1%	70,485,093	33.16%
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Total issued shares	212,540,128	100%

Most Recent Statement

24/06/09 - Dutwa Scoping Study indicates potential economic viability
13/05/09 - Igurubi Project Update
05/05/09 - Preliminary Results
07/04/09 - African Eagle signs option on Ngasamo Licence
26/03/09 - Contract for Dutwa Scoping Study
24/03/09 - Dutwa Nickel Project Update

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