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Directors dealings and holdings in company

20 May 2008

African Eagle ("the Company", ticker AIM: AFE and AltX: AEA) announces that the following Directors have exercised share options to purchase shares in the Company: Mr John Park exercised options to purchase 100,000 shares at 8p; and Mr Euan Worthington exercised options to purchase 100,000 shares at 8p. The dealing took place on the 20 May 2008.

On completion of these transactions Mr Park and his wife will hold 5,726,801 shares, equivalent to 2.69% of the total shares in issue and Mr Worthington will hold 360,000 shares, equivalent to 0.17% of the total shares in issue.

Following this exercise, the total number of shares allotted and issued is 212,540,128 and the Company has made application for 200,000 new shares to be admitted to trading on AIM, with dealings expected to commence on 27 May 2008.

Bevan Metcalf
Company Secretary
African Eagle Resources plc

For further information, see the Company's web site www.africaneagle.co.uk or contact one of the following:

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