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Miyabi Gold Project – Pending Results from 2nd Phase Miyabi Drilling Programme
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)
Miyabi Gold Project Pending Results from 2nd Phase Miyabi Drilling Programme
African Eagle notes the announcement issued on 19 December 2012 by its joint venture partner Rift
Valley Resources Ltd. ("Rift Valley) (formerly known as BrightStar Resources) regarding the Myabi
Gold Project in Tanzania.
The Rift Valley announcement, as released on the Australian Stock Exchange, is reproduced below,
excluding illustrations and the drill interval assay results referred to in Appendix 1. Please visit
www.riftvalleyresources.com.au for the drill interval assay results.
Any references to the Company in the text below refers to Rift Valley and not to African Eagle.
Furthermore, references and commentary regarding the extent and magnitude of mineralisation and
mineral resources has been provided by Rift Valley and has not been subject to verification by African
Eagle.
The Rift Valley Resources announcement states:
Further to the release dated 14 December 2012, Rift Valley Resources Limited (Rift Valley or
Company) has now received the pending results from the second phase of drilling at the Miyabi Gold
Project.
In the program, a total of 117 holes for 4,290 metres of drilling were completed - a full table of all
results is included in Appendix 1.
As previously reported, the drilling was undertaken using a multi-purpose drilling rig contracted from
Ausdrill and involved 107 Aircore holes, 9 RC percussion holes and one diamond drill hole.
All samples were processed at the SGS Laboratory in Mwanza and all assay results have now been
received. The pending samples were mostly from the regional geophysical targets.
Regional Geophysical Targets
Three Regional Geophysical Targets were identified by an interpretation using geophysical
information. A single traverse of Aircore drill holes was completed at two of the targets and two
traverses of drilling were completed on the third target.
The first-pass drilling south of Ndagalu (which lies within the Miyabi Structural Corridor) has shown
some encouraging intersections which will be followed up in due course.
The best intersections south of Ndagalu were from two drill holes located 20 metres apart on section
8900E. Drill hole MBAC357 returned 3 metres @ 1.59g/t gold (from 15 metres down hole) and
MBAC356 returned 3 metres @ 0.68 g/t gold from 36 metres down hole, (note: a full table of assay
results is provided in Appendix 1, true width of the intersection is interpreted to be 70% of the drill hole
intercept).
Chui Diamond drill hole
The diamond core extension below an RC percussion drill hole pre-collar returned no significant
results below the intersection of 12 metres at 6.02g/t gold previously reported from MBRCD001.
MIYABI GOLD PROJECT BACKGROUND
The Miyabi Gold Project is located approximately 200 kilometres southwest of the city of Mwanza in
the Lake Victoria Goldfields, Tanzania. The property has Mineral Resources contained in several
deposits totalling 12.4 million tonnes at 1.3 g/t gold. This Resource comprises 520,000 ounces of gold
(at a 0.5g/t cut-off), estimated in accordance with JORC (2004). The resource comprises 370,000
ounces of Indicated Mineral Resource and 150,000 ounces of Inferred Mineral Resource and was
estimated in 2006.
In April 2011, the Company entered into a joint venture with African Eagle Resources plc where Rift
Valley may earn a 75% interest in the Project by sole funding exploration to completion of a bankable
feasibility study.
Six of the seven individual gold resources estimated to date occur in an en echelon pattern of shear
zones within a major structural corridor that cuts across the northwest corner of the Miyabi greenstone
belt. This major structural corridor is named the Miyabi Structural Corridor (MSC), it trends northeast
to southwest extending for a length of 7.7 kilometres through the Miyabi property and is some 800 to
1,000 metres wide.
The existing gold resources within the MSC extend along a strike length of approximately 3.5
kilometres in the south western half of the structure and are clustered over a width of approximately
500 metres from the centre of the structure towards its northern boundary.
The potential for new zones of gold mineralisation within the MSC, but outside the area of current
resources, was clearly demonstrated with the discovery of the Dalafuma and Chui Prospects in mid-
2012.
Qualified Person
The information in this document that relates to Exploration Results and Mineral Resources of Rift
Valley Resources Ltd is based on information compiled by Michael McKevitt, who is a member of The
Australasian Institute of Mining and Metallurgy. Mr McKevitt is a full time employee of Rift Valley
Resources Ltd. Mr McKevitt has sufficient experience which is relevant to the style of mineralisation
and type of deposit under consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves. Mr McKevitt consents to the inclusion in
this document of the matters based on his information in the form and context in which it appears in
this document.
About African Eagle
African Eagle Resources plc is a nickel development and exploration company listed on the London
AIM (AFE) and Johannesburg AltX (AEA) stock exchanges. The Company's flagship project is the
Dutwa Nickel project in Tanzania located about 25km south of Lake Victoria and 110km east of
Mwanza within greenstone gold belts which host many of Tanzania's operating and developing gold
mines. African Eagle is currently conducting a Bankable Feasibility Study, which is due for publication
during 2013.
Technical terms
A glossary of technical terms used by African Eagle in this announcement and other published
material may be found at http://africaneagle.co.uk/dutwa-glossary.asp
For further information, please visit www.africaneagle.co.uk or 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
Sponsor
Merchantec Capital
19 December 2012
Date: 19/12/2012 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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