AFRICAN EAGLE RESOURCES PLC - CHANGE OF ADVISER

CHANGE OF ADVISER

                                       African Eagle Resources plc
                                    Incorporated in England and Wales
                                      (Registration number 3912362)
                             (AIM share code: AFE AIM ISIN: GB0003394813)
                             (JSE share code: AEA JSE ISIN: GB0003394813)
                                    (“African Eagle” or the “Company”)


                                           CHANGE OF ADVISER


African Eagle announces that Canaccord Genuity Limited has been appointed as the Company's Nominated
Advisor and Joint Broker with immediate effect. This follows the completion of the acquisition of Collins
Stewart Hawkpoint plc by Canaccord Financial Inc and change of name of Collins Stewart Europe Limited to
Canaccord Genuity Limited.

This change and required announcement is as a result of Canaccord Financial Inc's acquisition of Collins
Stewart Hawkpoint plc and not a change instigated by African Eagle.

For further information, please visit www.africaneagle.co.uk or contact:

African Eagle Resources plc
Trevor Moss, CEO
+44 20 7248 6059

Canaccord Genuity Limited (NOMAD and Joint Broker)
Rob Collins or Andrew Chubb
+ 44 20 7523 8000

Sponsor
Merchantec Capital

14 August 2012

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