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AEA - African Eagle Resources Plc - Appointment of Ocean Equities Ltd as Joint Broker 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) APPOINTMENT OF OCEAN EQUITIES LTD AS JOINT BROKER African Eagle Resources plc ("African Eagle" or "the Company", ticker AIM: AFE, AltX: AEA) are pleased to announce the appointment of Ocean Equities Ltd as joint broker to the Company with immediate effect. Ocean Equities Ltd will join Seymour Pierce Limited in providing broking support, analyst coverage and related services to African Eagle. Ocean Equities Ltd has particular expertise in the resources sector and represents a number of mineral and resource clients. September 2, 2010 Sponsor Merchantec Capital For further information, see the Company`s web site www.africaneagle.co.uk or contact one of the following: Mark Parker Managing Director African Eagle +44 20 7248 6059 +44 77 5640 6899 Nicola Marrin Seymour Pierce Limited, London Nominated Adviser + 44 20 7107 8000 David Banks Seymour Pierce Limited, London Corporate Broking + 44 20 7107 8000 Guy Wilkes Ocean Equities Limited +44 20 7786 4370 Charmane Russell Russell & Associates, Johannesburg + 27 11 8803924 + 27 82 8928052 Ed Portman / Leesa Peters Conduit PR, London +44 20 7429 6607 +44 77 3336 3501 About African Eagle African Eagle is currently developing the major Dutwa nickel laterite in Tanzania. The Company discovered Dutwa in 2008, completed a scoping study on in June 2009, and is currently conducting a feasibility study. The deposit contains 92mt at 0.88% nickel (JORC inferred mineral resource). Initial metallurgical work indicates that the laterite will be able to be processed with standard heap leaching and no need for a costly HPAL facility. African Eagle is also evaluating a second promising nickel laterite deposit at Zanzui in Tanzania, 50km south of Dutwa which is currently in the drilling and testing phase. In December 2008, African Eagle resolved to prioritise the Dutwa project, because the Board believes that, of all the Company`s projects, it offered the greatest potential to add value. To take its other discoveries into production, African Eagle is seeking industry partners with records of successful mine development, by means of joint ventures, farm-ins, spin-outs or other mechanisms. These include: a 49% interest in the Mkushi Copper Mines joint venture project in Zambia, for which a draft feasibility study was completed in Q4 2008; the Miyabi gold project in Tanzania which has a half a million ounce JORC gold resource; the Ndola and Mokambo projects in the Zambian Copperbelt; and the Igurubi gold project in Tanzania. Zambia, Tanzania and Mozambique, the sites of African Eagle`s projects, are all countries which have highly prospective geology, relatively low above-ground risks and track records of successful major investments in the metals and minerals industries. Date: 02/09/2010 17:30:04 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
