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REPORT ON THE NDOLA PROJECT, ZAMBIA

News Report
30 November 2005

African Eagle Resources ("the Company", ticker AFE) has taken delivery of a report on past exploration and archive data at its Ndola project area in the Copperbelt of northern Zambia. The report draws attention to known copper, lead and zinc resources within the licence and highlights the likely high prospectivity for economic copper deposits in the east of the licence.

The Ndola licence lies in a prospective region of the Zambian Copperbelt between the town of Ndola and the international border with the Democratic Republic of Congo (DRC). The Bwana Mkubwa Mine, one of the first of the Copperbelt mines, operated until the late 1970s just south of the licence and is now the site of a copper smelter operated by First Quantum Minerals. The licence was awarded to the Company in July 2005 and covers an area of 428 square kilometres.

Prior to starting field exploration, African Eagle contracted Lawrence Robb, Professor of Geology at Witwatersrand University, through consultants The Mineral Corporation to conduct a thorough review of existing information on the mineral resources of the area and to report on the potential of the licence.

The review concluded that the Ndola Licence is highly prospective for copper deposits, particularly in the east near the DRC border, as it occupies a little-explored gap between the recent discoveries by First Quantum Minerals in the DRC at Lufua (88 million tonnes, 1.1% copper) and Lonshi (6 million tonnes, 4.6% copper).

The report also provided more detailed descriptions of two known mineral resources within the licence,

• 40 million tonnes of 0.75% copper just east of Ndola town
• 3 million tonnes of 3.5% combined lead and zinc near the centre of the licence

These deposits were sketchily explored in the past and have potential for further development.

African Eagle now plans to fly a high resolution airborne geophysical survey over the entire licence, and to conduct geological and geochemical surveys in the eastern part of the licence to identify targets for drilling. The two known resources will also be re-evaluated and if appropriate, drilling will be undertaken to verify the archive data and to increase the resources.

African Eagle's Operations Director Chris Davies comments, "Professor Robb's review has enabled African Eagle to prioritise target areas within the licence area for immediate exploration. We are especially excited by the prospectivity for a major copper discovery in the eastern part of the area".

John Park
Chairman
African Eagle Resources plc