Mokambo Exploration Update

African Eagle Resources plc

("African Eagle" or the "Company")

Mokambo Exploration Update

African Eagle Resources plc (AIM: AFE; AltX: AEA) is pleased to announce new
copper assay results from 1,367 samples cut from archive drill cores dating from
1929 to 1969, from the area of its Mokambo copper project in Zambia.

Key mineralised intercepts are as follows, based on reporting cut-off grades
("cog") of 1% and 2% copper, which are typical criteria for reporting proposed
underground mining targets:

·         17.4m at 1.84% (cog 1.0%) from 252m, incl. 11.4m at 2.16% (cog 2%)
·         13.0m at 1.99% (cog 1.0%) from 134m, incl. 7m at 2.74% (cog 2%)
·         8.0m at 2.90% (cog 1.0%) from 279m incl. 5.6m at 3.77% (cog 2%)
·         6m at 3.34% (cog 1.0%) from 644m incl. 5m at 3.7% (cog 2%)

Chris Davies, African Eagle´s operations director, who is mandated to spin out
the Company´s Zambian copper assets, commented "These results show copper
mineralisation extending to considerable depth, with grade and thickness
comparable to those at the nearby Mufulira Mine. This work is in line with our
efforts to add value to our Zambian copper assets at minimum cost in advance of
signing up a strategic investor to finance a drilling programme to expand and
formalise the Mokambo resource."

As part of African Eagle´s plans to spin out its Zambian copper assets, it
sampled archived core from boreholes drilled at Mokambo between 1929 and 1969 by
Roan Selection Trust ("RST"). The Zambian Chamber of Mines maintains an
extensive archive of drill core from the Copperbelt. The Company conducted
geological logging on core from 33 drill holes in the Mokambo area and obtained
consent from the Chamber to cut quarter and half core for assay by ALS Chemex in
Johannesburg. The principal results, reported at a 1% and 2% copper cut-off,
were as follows:

Table: Historic Core Sampling Results

+------------+----------+-------+----------------+----------+---------------+
| Hole ID | From (m) | Width | Grade % copper | Location | Cut-Off Grade |
| | | | | | % copper |
+------------+----------+-------+----------------+----------+---------------+
|  KS5 | 134.00 | 13.00 | 1.99 | South | 1.00 |
+------------+----------+-------+----------------+----------+---------------+
|  and | 150.00 | 4.00 | 1.05 | South | 1.00 |
+------------+----------+-------+----------------+----------+---------------+
|  including | 139.00 | 7.00 | 2.74 | South | 2.00 |
+------------+----------+-------+----------------+----------+---------------+