Mozambique

African Eagle has an office in Cidade de Manica. The Company’s operating subsidiary in Mozambique is Twigg Exploration and Mining Limitada and has a staff complement of 9 people (including contractors).

African Eagle has 5 projects in Mozambique, two of which are being explored by farm-in partners.

The Majele Project, in the Alto Ligonha pegmatite belt, was recently optioned to Pacific Wildcat Resources Corporation, which can acquire an 80% interest in the project by exploring for tantalum, tin and niobium deposits. Sampling in late 2008 identified several promising targets.

Work on the Fingoe Project in western Mozambique is continuing with partner African Queen Mining, formerly Pan African Mining Corporation. Skarn-like copper-gold mineralisation and iron occurrences are reported in the area, suggesting that the area may be prospective for intrusion related or IOCG type mineralisation.

The Sena project area in central Mozambique is prospective for uranium. A radon emanation survey, still underway, has already identified significant anomalies.

About Mozambique

The Republic of Mozambique is situated in south-eastern Africa. It is bordered by the Indian Ocean to the east, Tanzania to the north, Malawi and Zambia to the northwest, Zimbabwe to the west and Swaziland and South Africa to the south. Colonized by Portugal since 1505, Mozambique gained its independence in 1975. A civil war which raged in the 1980s was ended by a UN-sponsored peace agreement in 1992 and the country has since enjoyed rapid economic growth. It is home to several important rivers, including the Zambezi, which flows southeast across the centre of the country into the Indian Ocean, the Limpopo in the south, and the Lugfenda in the north.

Mineral regime

Mozambique possesses a varied but largely untapped mineral resource base which includes coal, natural gas, rare metal minerals, gold and titanium, together with non-metallic minerals such as marble and gemstones. The Government of Mozambique introduced a new Mining Code in 2002, to encourage investment in the mining sector. The Code is considered competitive by international standards and applies to both national and foreign investors.

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