Block Listing Review 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”) Block Listing Review Name of scheme: Employee Share Option Scheme Period of return: 12 July 2014 – 11 January 2015 Balance under scheme from previous return: 5 000 000 The amount by which the block scheme has Nil been increased, if the scheme has been increased since the date of the last return: Number of securities issued/allotted under Nil scheme during period: Number of securities under the scheme which Nil expired during the period: Balance under scheme not yet issued/allotted 5 000 000 ordinary shares of 0.1p each at end of period: Number and class of securities originally listed 5 000 000 ordinary shares of 1p on 11 July 2011 and the date of admission: Total number of securities in issue at the end 871 157 261 of the period: For further information please contact: African Eagle Resources plc Robert McLearon, Finance Director +44 (0) 20 7002 5361 Beaumont Cornish Limited (Nominated Adviser) Roland Cornish Emily Staples +44 (0) 20 7628 3396 Pareto Securities Limited (Joint Broker) Guy Wilkes +44 (0) 20 7786 4370 Loeb Aron & Company Limited (Joint Broker) John Beresford-Peirse / Anthony Kluk +44 (0) 20 7628 1128 Sponsor Merchantec Capital 12 January 2015 Date: 12/01/2015 09:00:00 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.