African Eagle Resources plc

NOTICE OF ANNUAL GENERAL MEETING

News Report
1 June 2007

Notice is hereby given that the Annual General Meeting of the Company will be held at the Company's offices at 2nd Floor, 6-7 Queen Street, London EC4N 1SP on 28 June 2007 at 2:00pm for the following purposes:

Ordinary business

To receive the annual report and financial statements for the year ended 31 December 2006.
To re-elect Mr M Parker who is retiring by rotation under the Articles of Association as a director of the Company.
To re-elect Mr G Cooper who is retiring by rotation under the Articles of Association as a director of the Company.
To reappoint Grant Thornton UK LLP as Auditors and to authorise the directors to fix their remuneration.

Special business

To consider and if thought fit to pass the following resolutions:

Ordinary Resolution

THAT the directors be generally and unconditionally authorised for the purposes of Section 80 of the Companies Act 1985 ("the Act") to exercise all powers of the Company to allot relevant securities (within the meaning of Section 80(2) of the Act), up to an aggregate nominal amount of the authorised but unissued share capital of the Company. The authority will expire on the date of the Company's next Annual General meeting (or if sooner the expiry of 15 months after the passing of this Resolution) except as regards an allotment made pursuant to an offer or agreement made by the Company before such date, such authority to be in substitution for all existing authorities granted to the directors in respect of the allotment of relevant securities.

Special Resolution

THAT the directors be empowered pursuant to Section 95 of the Companies Act 1985 (" the Act") to allot and to make offers or agreements to allot equity securities (as defined by Section 94(2) of the Act) for cash, pursuant to the authority conferred by Resolution 5 above , as if section 89(1) of the Act did not apply to any such allotment, provided that such power is limited to:
1. allotment of equity securities up to the nominal amount of the authorised but unissued share capital of the Company from time to time; and
2. the allotment of equity securities in connection with any offer by way of rights in favour of the holders of ordinary shares in the Company where the equity securities respectively be attributed to the interests of the ordinary shareholders proportionate to the respective numbers of ordinary shares held by them subject to only such exclusions or other arrangements as the directors deem necessary or expedient to deal with fractional entitlement, legal or practical problems arising in any overseas territory or the requirements of any regulatory body or Stock Exchange.
Such power (unless previously revoked, varied or renewed) to expire at the conclusion of the Annual General Meeting to be held in 2008, (or if sooner the expiry of 15 months after the passing of the Resolution) save that the Company may before such expiry make an offer or agreement which would or might require equity securities to be allotted after such expiry and the directors may allot equity securities pursuant to any such offer or agreement as if the power conferred thereby had not expired.

Special Resolution

Amendment to Articles of Association of the Company
THAT Article 187 of the Articles of Association of the Company to read as follows:

"A person who becomes entitled to a share by transmission, transfer or otherwise is bound by a notice in respect of that share (other than a notice served by the Company under section 793 of the Companies Act 2006) which, before his name is entered in the Register, has been properly served on a person from whom he derives his title. "

The following special business will be conducted at the meeting:

Authority to allot shares
An Ordinary Resolution (No 5 in the Notice) and a Special Resolution (No 6 in the Notice) will be proposed to empower the directors to issue and allot shares up to the nominal but unissued share capital of the Company.

The proposed power will expire on the date of the next AGM or 15 months from the date of approval of the Resolutions, whichever is sooner.
Amendment to Articles of Association of the Company
THAT Article 187 of the Articles of Association of the Company to read as follows:

"A person who becomes entitled to a share by transmission, transfer or otherwise is bound by a notice in respect of that share (other than a notice served by the Company under section 793 of the Companies Act 2006) which, before his name is entered in the Register, has been properly served on a person from whom he derives his title."

By order of the Board
1 June 2007

Bevan Metcalf
Company Secretary

Registered Office:
2nd Floor, 6-7 Queen Street, London EC4N 1SP, UK