AFRICAN EAGLE RESOURCES PLC - APPOINTMENT OF FINANCIAL ADVISOR

                                       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')



                              APPOINTMENT OF FINANCIAL ADVISOR



African Eagle is pleased to announce the appointment of Cutfield Freeman & Co Limited ('CF&Co')
to act as Financial Advisor to the Company.


CF&Co is engaged to examine, develop and implement financing strategies for the development of
the Dutwa project. The assignment will embrace strategic investor, equity and debt elements.
CF&Co is a well renowned and respected independent financial advisory services consultancy with a
wealth of experience in successfully executing transactions in the mining and metal processing
industries.


Commenting on the announcement, African Eagle's CEO, Trevor Moss said 'The appointment of CF&Co to
work along with our newly appointed Finance Director, David Newbold, is a fundamental step to support the
development of Dutwa. Since the early part of the year we have systematically progressed development
through our efforts to de-risk the technical, engineering and social and environmental aspects of the project.
The appointment of CF&Co extends this de-risk focus into the area of financing. African Eagle continues to
diligently develop Dutwa with the highest quality resources available.'


For further information please contact:

African Eagle Resources plc
Trevor Moss (CEO)
Alex Buck
+44 20 7248 6059

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

Ocean Equities Limited (Joint Broker)
Guy Wilkes
+44 20 7786 4370

Russell & Associates, Johannesburg
Charmane Russell or Marion Brower
+27 11 880 3924

Sponsor
Merchantec Capital

18 July 2012


Date: 18/07/2012 08:00:00 Supplied by www.sharenet.co.za                     
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