African Eagle Resources plc - Grant of Share Options

01 August 2011 - African Eagle Resources plc ("African Eagle" or "the Company", ticker AIM: AFE, AltX: AEA) announces that on 29 July 2011 it granted 4,996,000 share options to employees under the Company's two share option incentive schemes. The exercise price is 10 pence, being 19.3% above the closing price of the Company's shares on 29 July 2011. None of the options were granted to directors.

Under the rules of the schemes, options may not normally be exercised before the first anniversary of the date of grant and may not in any event be exercised later than the fifth anniversary of the date of grant. The new share options will become exercisable after 29 July 2012 and will expire on 29 July 2016.

A total of 24,767,000 share options are now outstanding in the two schemes, equivalent to 6.05% of the Company's shares in issue. The total number of options outstanding under the rules of the schemes cannot exceed 10% of the number of shares in issue.


For further information please see the Company's web site at www.africaneagle.co.uk or contact one of the following:

African Eagle Resources plc
+44 20 7248 6059
Bevan Metcalf
+44 78 0277 6226
Sandra Spencer
+44 77 5766 0798

Canaccord Genuity Limited
Andrew Chubb
Bhavesh Patel
+44 20 7050 6500

Ocean Equities Limited
Guy Wilkes
+44 20 7786 4370

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



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Source: African Eagle Resources PLC via Thomson Reuters ONE
[HUG#1535261]


Unternehmen: African Eagle Resources PLC - ISIN: GB0003394813