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DIRECTORS DEALINGS AND HOLDINGS IN COMPANY

News Report
6 Feb 2007

African Eagle ("the Company", ticker AFE) announces that the following Directors (and related persons) have exercised share options to purchase ordinary shares of one pence each in the Company ("Shares"): Mr Mark Parker and his wife exercised options to purchase 153,000 Shares at 8p; Mr John Park exercised options to purchase 35,000 Shares at 8p; Mr Christopher Davies exercised options to purchase 12,500 Shares at 8p; and Mr Euan Worthington exercised options to purchase 35,000 Shares at 8p. The dealings took place on 6 February 2007 and the new Shares will rank pari passu with the existing Shares.

On completion of these transactions Mr Parker and his wife will hold 3,226,087 Shares, equivalent to 2.18% of the total shares in issue. Mr Park and his wife will hold 5,626,801 Shares, equivalent to 3.80% of the total shares in issue. Mr Davies will hold 341,667 Shares, equivalent to 0.23% of the total shares in issue and Mr Worthington will hold 260,000 Shares, equivalent to 0.18% of the total shares in issue.

Following this exercise, the total number of Shares allotted and issued is 148,060,390 and the Company has made application for 235,500 new Shares to be admitted to trading on AIM, with dealings expected to commence on 12 February 2007.

Bevan Metcalf
Company Secretary
African Eagle Resources plc