Update on Proposed Acquisition of Lime-Chem Resources Proprietary Limited 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”) Update on Proposed Acquisition of Lime-Chem Resources Proprietary Limited African Eagle wishes to provide an update to the announcement made on 20 November 2014 in relation to the extension to the conditional agreement (“Agreement”) for the proposed acquisition of Lime-Chem Resources Proprietary Limited. Subsequent to the previous announcement, an extension has been agreed with all the parties to the Agreement for the date by which the condition needs to be satisfied for agreement to be reached on the disclosure letter, qualifying the warranties as provided for in terms of the Agreement. The agreement is for an extension of this date from 28 November 2014 to 12 December 2014. The Company does not currently anticipate that this extension will impact the timetable for the fulfilment of the other conditions as set out in the announcement of 20 November 2014. Enquiries: African Eagle Resources plc Tel: +44 (0) 207 002 5361 Robert McLearon, Finance Director Beaumont Cornish Limited (Nominated Adviser) Tel: +44 (0) 207 628 3396 Roland Cornish / Emily Staples Pareto Securities Limited (Joint Broker) Tel: +44 (0) 207 786 4370 Guy Wilkes Loeb Aron & Company Limited (Joint Broker) Tel: +44 (0) 207 628 1128 John Beresford-Peirse / Anthony Kluk JSE Sponsor Merchantec Capital 1 December 2014 About African Eagle African Eagle Resources plc is quoted on the AIM Market of the London Stock Exchange (symbol: AFE) and Johannesburg AltX stock exchange (symbol: AEA) Date: 01/12/2014 05:41:00 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.