African Eagle Resources plc

FURTHER POSITIVE DRILLING RESULTS FROM THE MKUSHI COPPER MINES PROJECT, ZAMBIA

News Report
24 August 2007

Latest drill results confirm L Zone as a significant potential resource with high grades of copper over substantial widths
New zones of mineralisation defined in L Zone Hanging Wall
Pre-feasibility study on track for completion in Q3, 2007

African Eagle plc ("the Company"; Ticker "AFE") announces latest drill results and a progress update from the Mkushi Copper Mines joint venture in central Zambia. Mineralised intercepts included:

37m at 2.42% copper
16m at 1.51% copper
17m at 1.39% copper
11m at 1.80% copper
6m at 3.36% copper

African Eagle's Managing Director Mark Parker comments "The latest drilling results from L Zone continue to impress and suggest that this newly defined mineralised zone is likely to contribute significantly to the existing resource at Mkushi. We look forward to completion of the pre-feasibility study and resource update, scheduled for completion by the end of September."

The Mkushi Copper Mines Project is a Joint Venture between CGA Mining Limited (CGA) and African Eagle Resources plc (African Eagle), through their respective Zambian subsidiaries. CGA manages and funds the resource drilling and feasibility operations while African Eagle manages a jointly funded regional exploration programme.

The latest results, shown in the table below, come from the resource drilling programme at L Zone and H Zone, which will form the basis of a pre-feasibilty study (PFS) scheduled for completion by the end of September. Based on the findings of the PFS, a further drill programme will be designed to ensure the bankability of the final feasibility study.

Hole No	Prospect	From (m)	Width (m)	Copper %
MH048	L Zone	113	10	1.26
and	H Zone	175	12	1.20
MH069	H Zone	224	6	3.36
MHO71	New Zone	64	5	0.94
and	New Zone	73	5	0.94
MH073	New Zone	71	6	0.50
and	L Zone	119	37	2.42
and	H Zone	223	16	1.51
and	H Zone	250	17	1.39
and	H Zone	270	15	0.71
MH075	New Zone	107	4	0.85
and	New Zone	129	6	1.61
MH076	L zone	256	2	3.68
and	L Zone	279	2	0.43
MMU036	L Zone	132	11	1.80
and	New Zone	147	6	1.33
and	Munshiwemba	175	3	0.95

L ZONE

The results highlight the growing potential of L Zone to be a significant contributor to the copper resource. L Zone intersections included 37m at 2.42% copper from 119m in drill hole MH073. At greater depth, the same hole also intersected H Zone, including 16m at 1.51% from 223m and 17m at 1.39% from 250m. Intersections previously reported from L Zone, from diamond drilling extensions of RC pre-collar holes, include 23m at 1.38% copper in MH047, 25m at 1.79% copper in MH061 and 21m at 1.68% copper in MH062.

Indications are that, in the vicinity of these intersections, L Zone is a single broad copper zone with a true width between 10 and 25m, extending approximately 100m along strike and at least 150m down dip. North and south of this area, L Zone fragments into a series of narrower discontinuous mineralised zones of varying grade, extending over a further 250m of strike. These are more difficult to correlate, from the existing data, however.

An unmineralised dolerite dyke in the middle of the L Zone intersection in drill hole the MH073 is of interest. A review of relevant RC and diamond drill holes is being undertaken to assess whether this dolerite intrusion can assist in defining the L Zone structure, as this would be useful in locating repetitions of similar mineralisation along strike. The current drilling programme includes drill holes PH222 and PH224 to a depth of approx 150 vertical metres in the core area of L Zone and an additional 1,000m of diamond drilling is planned to confirm the current interpretation.

FOOTWALL AND HANGING WALL TARGETS

The drilling programme targeting L Zone has stepped out progressively to the west and has uncovered new zones of mineralisation in the hanging wall. The intersections so far are relatively shallow and mostly of lower grade than H Zone, but as the grade of mineralisation in both H Zone and L Zone generally increases with depth, these discoveries warrant further testing. The better examples include 6m at 1.52% copper from 73m in MH071, 6m at 0.5% copper from 71m in MH073 and 6m at 1.61% from 129m in MH075. These targets will be tested using reverse circulation drilling with short diamond tails if required. Ten holes are planned for a total of 1,500m.

The footwall of H Zone has been little tested to date, as previous drilling has typically stopped 20-30m below the main mineralised zone. With the recent recognition that the Mkushi mineralisation exists on more than one shear structure, it is likely that further mineralisation is present. Drilling of 15 further holes for 2,100m, extending 100m east of H Zone, is planned to test these footwall targets.

John Park
Chairman
African Eagle Resources plc
24th August 2007

Qualified Person

Information in this report relating to exploration results is based on data reviewed by Mr Christopher Davies BSc, MSc, DIC, FSEG, FAusIMM, 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.

Technicl Terms

Hanging Wall - Hanging Wall - the name given to the host rock of an ore deposit that is physically above the ore deposit

Foot Wall - the name given to the host rock of an ore deposit that is physically below the ore deposit

A glossary of technical terms used by African Eagle in this announcement and other published material may be found at www.africaneagle.co.uk/african-eagle-projects-glossary.html