African Eagle Resources plc

AFRICAN EAGLE'S EAST AFRICAN URANIUM ASSETS

News Report
10 July 2007

Six uranium projects in Zambia and Tanzania
Applications made for a further two projects in Tanzania and Mozambique
Uranium Division created to progress projects and optimise shareholder value

African Eagle ("African Eagle") or ("the Company") (AIM: AFE) today announces further details of its uranium assets. The Company currently holds 6 projects across 11 exploration licences in Zambia and Tanzania, and has applied for a further 8 licences in two project areas in Tanzania and Mozambique.

In order to optimise value to shareholders the Company has established a Uranium Division and is investigating a number of alternative ways to develop these holdings, including exploring them in-house, joint venturing with a uranium specialist company, or developing them in a new listed subsidiary.

The targets include calcrete and playa type deposits in Neogene to recent sediments, sandstone hosted deposits of Karoo and Cretaceous ages and vein deposits in crystalline basement rocks.

Most of the targets have already had some prior exploration, ranging from airborne spectrometric surveys through to geochemical and geological surveys. The initial results are promising with several uranium anomalies identified ready for follow up exploration.

African Eagle's current 11 exploration licences, summarised in the table below, form 6 projects covering 6657 km2 in Zambia and Tanzania. The Company has also applied for a further 8 licences, 3 in Tanzania and 5 in Mozambique, forming two project areas with a total of 6467 km2. The Company is reviewing the regional airborne spectrometer data for these new licences, which are expected to be granted in Q3, 2007.

Commenting today, Mark Parker, Managing Director of African Eagle, said "These assets are another string to our bow and although we are fully focused on bringing Mkushi and Miyabi into production as quickly as possible, these uranium prospects represent exciting opportunities which could considerably enhance shareholder value."

Project	Geological setting	Prior Exploration	Licence Status
Sasare, Zambia	Sandstone hosted uranium in Karoo rift system, e.g. Kayelekera, Malawi	Uranium anomaly on airborne survey, north of Eagle Eye IOCG.	~100 sq km of Karoo rocks within 100% owned licence.
Lunga, Zambia	Calcrete type mineralisation e.g. Langer Heinrich, Namibia	Uranium anomaly on airborne survey.	100% owned. MinEx Projects has earn-in right.
Shikula, Tanzania	Sandstone hosted uranium in Karoo sediments	Geological model. Redbed copper reported. Airborne data under review.	Two licences - one held 100% and the other 80% via Troll Mining Ltd.
Msankwi, Tanzania	Vein type uranium	Uranium geochemical anomaly from 1980s exploration, pitchblende occurrence reported.	Five licences, 80% held via Troll Mining Ltd.
Nondwa, Tanzania	Calcrete / playa type mineralisation	Uranex reports anomalies on adjacent ground.	Single licence held 100%.
Wembere, Tanzania	Calcrete / playa type mineralisation	RTZ detailed magnetic and radiometric airborne survey in late 1990's, data held.	Two contiguous licences of 2000 sq km, 100% held.

Mark Parker
Managing Director
African Eagle Resources plc

Qualified Person

Information in this announcement relating to exploration results is based on data reviewed by Mr Christopher Davies BSc, MSc, DIC, FSEG, Operations Director for African Eagle, who is a Fellow of the Australasian Institute of Mining and Metallurgy, has more than 26 years relevant experience in mineral exploration and is a Qualified Person under AIM rules. Mr Davies consents to the inclusion of the information in the form and context in which it appears.