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AEA - African Eagle Resources plc - Appointment of Aidan Schoonbee as Dutwa Project Manager 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 AIDAN SCHOONBEE AS DUTWA PROJECT MANAGER African Eagle Resources plc (AIM: AFE; AltX: AEA) is pleased to announce that it has appointed Mr. Aidan Schoonbee as Project Manager for the development of its flagship Dutwa Nickel project in Tanzania. Aidan will initially be responsible for the timely completion of the Dutwa bankable feasibility study ("BFS") and the associated environmental and social impact assessment ("ESIA"), both of which are due for completion around the end of 2012, thereafter he will develop Dutwa through construction and into operation. Aidan is a proven project manager with experience in successful green fields project delivery during more than 20 years experience in the mining industry in Africa. Aidan Schoonbee is a qualified extractive metallurgist with most of his early career engaged in plant operations. Aidan advanced his career through the challenges of project commissioning and operations management roles into full time project management. Aidan most recently acted as Senior Project Manager for Debswana Diamond Company on their Morupule Colliery Expansion in Botswana, managing the project from feasibility study through to operation. With a strong focus on cost and schedule control, along with a technical attention to detail, Aidan completed the Morupule feasibility study, which then enabled his company to successfully secure debt financing. Aidan then delivered the completed project on plan and within budget. Previously Aidan held management roles within Debswana`s Diamond Division for Wexford Goldfields Ltd., Golden Star Resources and De Beers Centenary. Prior to commencing his full-time role on 1 February 2012, Aidan will be instrumental in the final selection of the engineering company which will be mandated by African Eagle to complete the Dutwa BFS. Aidan will then lead the African Eagle project development team and manage the engineers, consultants and contractors responsible for the BFS and ESIA documents. Trevor A. Moss CEO of African Eagle commented: "I am delighted that someone of the quality of Aidan Schoonbee has elected to join African Eagle at a time of fierce competition for high quality management in the minerals market. This is a testament to the strength of Dutwa when compared to other development projects. Aidan`s extensive experience in high quality project delivery in Africa is an essential skill that will be of fundamental benefit to the definition and development of Dutwa". About Dutwa Dutwa is a unique nickel project with a JORC resource of 99 million tonnes at 0.93% Ni, offering ready mining from two hilltop deposits and straightforward low consumption atmospheric acid leaching, leading to strong economics. The most recent financial modelling, prepared in early 2011, projected cash operating costs of approximately $3.50/lb., a post tax NPV of $995M at $9/lb. nickel and a projected capital payback period between three and five years. The current BFS and ESIA development is directed toward defining the full environmental, social, technical and economic performance of Dutwa. Sponsor Merchantec Capital 9 January 2012 For further information: Please see the Company`s web site at www.africaneagle.co.uk or contact one of the following: African Eagle Resources plc Trevor A. Moss (CEO) Yasumi Toyoda (Investor Relations) Euan Worthington (Chairman) +44 20 7248 6059 +44 77 5640 6899 +44 75 1535 7790 Canaccord Genuity Limited Rob Collins Andrew Chubb + 44 207 050 6500 Ocean Equities Limited Guy Wilkes +44 20 7786 4370 Russell & Associates, Johannesburg Charmane Russell Marion Brower +27 11 8803924 +27 82 8928052 Date: 09/01/2012 09:00:23 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.
