Share Option Scheme

African Eagle Resources plc
Share Option Scheme


African Eagle Resources plc ("African Eagle" or "the Company", ticker AIM: AFE,
AltX: AEA) announced today that the Board had approved an Enterprise Management
Incentive (EMI) Plan. Share options currently held by UK tax resident employees
under the Company's Unapproved Share Option Scheme will be cancelled and re-
issued under the EMI Plan which offers UK tax advantages. The rules of the EMI
Plan are not materially different from the rules of the Company's Unapproved
Share Option Scheme. The total number of options granted by the Company and the
exercise price of these options is unaffected by the EMI Plan. The existing
Unapproved Share Option Scheme is not affected for employees who are non UK tax
payers.

Managing Director, Mark Parker comments, "Our existing incentive option scheme
has been good for the Company, helping us to recruit, retain and motivate
employees with the skills to help the Company grow and succeed. The transfer of
UK taxpaying staff from the existing scheme into an EMI Plan will allow them to
take advantage of UK tax concessions."

Following the issue of the Placing Shares there will be 384,762,128 Ordinary
Shares in issue. This figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, African Eagle under the
FSA's Disclosure and Transparency Rules.


For further information on African Eagle, see the Company's web site
www.africaneagle.co.uk or contact one of the following:

Mark Parker
Managing Director
African Eagle
+44 20 7248 6059
+44 77 5640 6899

Nicola Marrin
Seymour Pierce Limited, London
Nominated Adviser
+ 44 20 7107 8000

David Banks
Seymour Pierce Limited, London
Corporate Broking
+ 44 20 7107 8000

Guy Wilkes
Ocean Equities Limited, London
Corporate Broking
+ 44 20 786 4370

Charmane Russell / Marion Brower
Russell & Associates, Johannesburg
+ 27 11 8803924
+27 82 8928052

Ed Portman / Leesa Peters
Conduit PR, London
+44 20 7429 6607
+44 77 3336 3501



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Source: African Eagle Resources PLC via Thomson Reuters ONE


Unternehmen: African Eagle Resources PLC - ISIN: GB0003394813