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High Grade Mineralisation Reported from Latest Drill Results at Mkushi

News Report
1 November 2007

• Extended resource potential of principal mineralised zones, H, L and G.
• High grade results from G Zone
• Environmental impact study underway
• Pre-feasibility study on track for completion in Q4, 2007

African Eagle Resources plc ("African Eagle" or "the Company", ticker AIM: AFE, AltX: AEA) today announces the latest drill results and a progress update from the Mkushi Copper Mines joint venture in central Zambia. Mineralised intercepts included:

33m at 3.12% copper
33m at 1.0% copper
50m at 0.97% copper

African Eagle's Managing Director Mark Parker comments "The latest drilling results are very encouraging, notably the very good intersection reported from hole MMU038 and continue to confirm the high grade of some of the mineralised zones. These results extend the resource potential of the principal mineralised zones and indicate extensions of the zones at depth. We look forward to completion of the pre-feasibility study and resource update in the next few weeks."

Continuing resource drilling is yielding very encouraging results in the south and at depth. Further resource drilling is planned within the old open pit, from which the water has been pumped for this purpose.

Significant assay results from the quarter are indicated in the table below. One very good intersection, 33m @ 3.12% Cu, was recorded at depth in hole MMU038 and there is strong indication that the high grade mineralisation continues at depth.

The new results extend the resource potential of the three principal mineralisation zones H, L and G Zones. Additional copper mineralisation has been located in the hanging wall to both L and H Zones, and this will be further investigated by future drilling programmes. The southern extension of H Zone has provided good intersections and this area will be further tested over the coming weeks.

A resource model has been generated as the basis for the pre-feasibility study, which will be completed shortly. Drilling will continue until approximately April 2008, including sterilisation drilling of the proposed Process Plant site and associated infrastructure and additional resource definition drilling to upgrade known resources to a sufficient formal category to be included within the full feasibility study scheduled for late 2008.

Dewatering of the existing Munshiwemba pit is complete and an Environmental Impact Assessment is underway, with a draft Environmental Impact Statement, to be used to formulate an Environmental management plan due by the end of December 2007. Results from metallurgical testwork have indicated a economic grade and clean copper concentrate can be achieved from a standard flotation circuit.

John Park
Chairman
African Eagle Resources plc

1 November 2007