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SIGNIFICANT SHAREHOLDING

22 April 2008

African Eagle Resources plc (“African Eagle” or “the Company”, ticker AIM: AFE, AltX: AEA) was notified on 18 April 2008 that RAB Capital Plc acting as discretionary manager of RAB Special Situations (Master) Fund Ltd holds an indirect interest in 35,700,000 ordinary shares in the capital of the Company, representing approximately 16.81 per cent of the issued voting share capital.

Bevan Metcalf
Company Secretary
African Eagle Resources plc

For further information, contact one of the following:

Bevan Metcalf
African Eagle Resources plc
Company Secretary
+44 20 7248 6059

Nicola Marrin
Seymour Pierce Limited
Nominated Adviser
+ 44 20 7107 8000