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 announcements made on the 20 November 2014 and on 1 December 2014 in relation to the proposed acquisition of Lime-Chem Resources (Proprietary) Limited. Subsequent to the previous announcements and during the process of progressing the transaction the Company has identified aspects of the transaction that have necessitated changes to the previously announced terms. Those changes are currently still under discussion with the vendors and as a consequence there can be no guarantee that the previously announced timetable will be adhered to or that the transaction will complete. The Board intends to update shareholders of progress in relation to the proposed acquisition of Lime- Chem Resources (Proprietary) Limited via the website (www.africaneagle.co.uk) and the SENS system of the JSE Limited. 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 11 February 2015 JSE Sponsor Merchantec Capital Date: 11/02/2015 05:30:00 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.