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Profile:

African Eagle is a UK-incorporated mineral exploration and development company operating in Zambia, Tanzania and Mozambique. These countries all have highly prospective geology, low above-ground risks and track records of successful major investments in the metals and minerals industries.

The Company has a highly motivated team, proven management, an experienced board and has recently signed up industry partners with records of taking mines into production. The principal advanced projects, which are being fast-tracking towards production, are the Mkushi copper project in Zambia and the Miyabi gold project in Tanzania. The value of the JORC compliant resources on these properties underpins our valuation and share price.

African Eagle also holds a large well-balanced portfolio of promising earlier stage gold and base metal projects, including the Ndola copper project and the Eagle Eye iron-oxide copper gold project, both in Zambia.

Joint ventures with industry partners and, in time, the revenue streams from our advanced projects, should finance future exploration and new discoveries.

African Eagle prides itself on being a low cost operator and on average 80p or more of every £1 is spent "in the ground".

African Eagle was set up by its Managing Director Mark Parker in late 1996, initially as a private company named Twigg Resources. Shares in a public vehicle, Twigg Minerals plc, were admitted to trading on the OFEX market in March 2000. In August 2002 the Company acquired Australian junior explorer AERL in a share for shares deal, bringing in a group of promising Zambian projects. In September 2002 the Company's name was changed to African Eagle Resources plc and June 2003 the company was listed on AIM.