Dutwa Project - Wamangola Drilling Results

14 juni 2012 Dutwa Project - Wamangola Drilling Results 14 June 2012: African Eagle Resources plc ("African Eagle" or the "Company") (AIM: AFE; AltX: AEA) is pleased to report new nickel and cobalt drill results from a drilling programme completed during the winter of 2011/12 at the Wamangola deposit, which comprises the larger part of its flagship Dutwa nickel project in Tanzania. The drilling programme was designed to further upgrade the remaining zones of the Wamangola JORC resource from Inferred to Indicated category.  An upgraded resource report for Wamangola is under development by Snowden in Perth Western Australia and due for release in Q3 2012. The new results provide further confirmation of the strength of the Dutwa resource and reinforce the extent of the significant high-grade zones. Key Mineralised Intercepts include: Nickel: ·         54 metres at 2.45% nickel including 6 metres at 4.12% Nickel ·         45 metres at 2.03% nickel including 3 metres at 4.14% Nickel ·         51 metres at 1.04% nickel ·         48 metres at 1.02% nickel ·         36 metres at 1.24% nickel Cobalt: ·         9 metres at 0.12% cobalt ·         6 metres at 0.14% cobalt The Wamangola resource upgrade drill programme comprised 93 vertical holes comprising 4,378 metres of reverse circulation drilling, bringing the total number of RC drill holes at Wamangola to 421. African Eagle commenced the drilling in early November 2011 and completed the work in early February 2012. The programme was specifically designed to upgrade the previously classified Inferred resource to Indicated category and was defined with the assistance and approval of Snowden of Perth, Australia, African Eagle's deposit modelling and resource geology contractor. Snowden will now conduct a formal resource estimate to JORC standard with the results expected in Q3 2012. With this most recent drilling, African Eagle has completed a total of 23,255m of resource drilling at Wamangola. All mineralised intersections from the latest drilling with grades of more than 0.5% nickel or 0.05% cobalt are listed below. Assays were carried out at Omac Laboratories in Ireland on 3m composited RC drill cuttings, with approximately 20% of quality control samples (reference standards, blanks and duplicates) inserted into the sample stream. The resource upgrade drilling programme infilled previous drilling to nominal drill collar intervals of 100m x 100m. All mineralised intersections from the latest drilling with grades of more than 0.5% nickel or 0.05% cobalt are listed below. Table A: Nickel intersections for drillholes in the resource upgrade programme +----------+-------------+---------------------+----------------+-------+ |Drill Hole|From (metres)|Intersection (metres)|Grade (% Nickel)|Comment| +----------+-------------+---------------------+----------------+-------+ |DTRC-329 | 0| 9| 0.55|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-330 | 15| 3| 0.52|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-359 | 66| 6| 0.59|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-360 | 0| 15| 0.77|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-362 | 9| 3| 0.74|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-363 | 6| 6| 0.59|  | +----------+-------------+---------------------+----------------+-------+ |  | 30| 3| 0.57|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-365 | 0| 3| 0.62|  | +----------+-------------+---------------------+----------------+-------+ |  | 6| 15| 0.63|  | +----------+-------------+---------------------+----------------+-------+ |Or** | 0| 21| 0.6|  | +----------+-------------+---------------------+----------------+-------+ |  | 30| 15| 2.74|  | +----------+-------------+---------------------+----------------+-------+ |Incl.*** | 36| 6| 4.37|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-366 | 0| 6| 0.57|  | +----------+-------------+---------------------+----------------+-------+ |  | 21| 3| 1.2|  | +----------+-------------+---------------------+----------------+-------+ |  | 36| 12| 2.09|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-367 | 6| 12| 1.02|  | +----------+-------------+---------------------+----------------+-------+ |  | 21| 21| 1.48|  | +----------+-------------+---------------------+----------------+-------+ |Or | 6| 36| 1.24|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-368 | 6| 9| 0.71|  | +----------+-------------+---------------------+----------------+-------+ |  | 18| 3| 0.51|  | +----------+-------------+---------------------+----------------+-------+ |  | 24| 33| 0.94|  | +----------+-------------+---------------------+----------------+-------+ |Or | 6| 51| 0.82|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-369 | 0| 9| 0.68|  | +----------+-------------+---------------------+----------------+-------+ |  | 12| 3| 0.73|  | +----------+-------------+---------------------+----------------+-------+ |  | 21| 3| 0.56|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-370 | 0| 9| 0.58|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-371 | 0| 30| 0.67|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-372 | 9| 3| 0.53|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-374 | 3| 3| 0.63|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-375 | 0| 30| 1.33|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-376 | 3| 12| 0.93|  | +----------+-------------+---------------------+----------------+-------+ |  | 18| 36| 1.13|  | +----------+-------------+---------------------+----------------+-------+ |Or | 3| 51| 1.04|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-377 | 3| 9| 0.74|  | +----------+-------------+---------------------+----------------+-------+ |  | 27| 6| 0.68|  | +----------+-------------+---------------------+----------------+-------+ |  | 36| 15| 1.29|  | +----------+-------------+---------------------+----------------+-------+ |Or | 27| 24| 1.03|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-378 | 0| 45| 2.03|  | +----------+-------------+---------------------+----------------+-------+ |Incl. | 3| 3| 4.14|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-379 | 6| 3| 0.59|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-381 | 12| 18| 1.76|  | +----------+-------------+---------------------+----------------+-------+ |Incl. | 21| 6| 2.88|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-382 | 0| 9| 0.77|  | +----------+-------------+---------------------+----------------+-------+ |  | 12| 6| 0.57|  | +----------+-------------+---------------------+----------------+-------+ |  | 21| 3| 0.55|  | +----------+-------------+---------------------+----------------+-------+ |Or | 0| 24| 0.61|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-383 | 15| 18| 0.78|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-384 | 0| 3| 0.54|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-385 | 0| 30| 1.33|  | +----------+-------------+---------------------+----------------+-------+ |Incl. | 18| 6| 2.89|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-386 | 0| 54| 2.45|  | +----------+-------------+---------------------+----------------+-------+ |Incl. | 15| 6| 3.4|  | +----------+-------------+---------------------+----------------+-------+ |and | 36| 6| 4.12|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-387 | 21| 3| 0.55|  | +----------+-------------+---------------------+----------------+-------+ |  | 27| 3| 0.61|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-389 | 0| 24| 0.84|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-390 | 3| 33| 1.13|  | +----------+-------------+---------------------+----------------+-------+ |  | 42| 3| 0.53|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-391 | 0| 15| 1.16|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-392 | 15| 6| 0.71|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-393 | 6| 6| 0.59|  | +----------+-------------+---------------------+----------------+-------+ |  | 15| 6| 0.63|  | +----------+-------------+---------------------+----------------+-------+ |Or | 6| 15| 0.59|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-394 | 9| 9| 0.84|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-395 | 3| 42| 1.09|  | +----------+-------------+---------------------+----------------+-------+ |  | 48| 3| 0.62|  | +----------+-------------+---------------------+----------------+-------+ |Or | 3| 48| 1.02|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-396 | 0| 18| 0.62|  | +----------+-------------+---------------------+----------------+-------+ |  | 45| 3| 0.53|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-397 | 0| 3| 0.53|  | +----------+-------------+---------------------+----------------+-------+ |  | 15| 6| 0.83|  | +----------+-------------+---------------------+----------------+-------+ |  | 27| 3| 0.65|  | +----------+-------------+---------------------+----------------+-------+ |  | 36| 12| 1.02|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-398 | 21| 12| 0.65|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-402 | 3| 3| 0.72|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-403 | 0| 6| 0.6|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-404 | 3| 6| 0.57|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-406 | 3| 12| 0.83|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-407 | 12| 3| 0.54|  | +----------+-------------+---------------------+----------------+-------+ |  | 21| 3| 0.56|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-408 | 18| 6| 0.67|  | +----------+-------------+---------------------+----------------+-------+ |  | 27| 3| 0.61|  | +----------+-------------+---------------------+----------------+-------+ |Or | 18| 12| 0.6|  | +----------+-------------+---------------------+----------------+-------+ |  | 57| 1| 0.6|EOH * | +----------+-------------+---------------------+----------------+-------+ |DTRC-410 | 9| 18| 1.11|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-411 | 15| 3| 0.81|  | +----------+-------------+---------------------+----------------+-------+ |  | 21| 3| 0.99|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-412 | 3| 15| 0.65|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-413 | 3| 6| 0.54|  | +----------+-------------+---------------------+----------------+-------+ |  | 12| 3| 0.65|  | +----------+-------------+---------------------+----------------+-------+ |  | 18| 3| 0.7|  | +----------+-------------+---------------------+----------------+-------+ |Or | 3| 18| 0.54|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-414 | 3| 3| 0.86|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-416 | 0| 6| 0.6|  | +----------+-------------+---------------------+----------------+-------+ |  | 12| 3| 0.5|  | +----------+-------------+---------------------+----------------+-------+ |  | 24| 3| 0.59|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-417 | 0| 6| 0.59|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-419 | 6| 9| 0.71|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-420 | 18| 9| 0.87|  | +----------+-------------+---------------------+----------------+-------+ *  EOH means end-of-hole ** "or"  indicates an alternative interpretation, usually the average of a longer interval *** Incl. Means a zone of high grade material included with a broader zone of mineralisation Table B: Cobalt intersections for drill holes in the resource upgrade programme +----------+-------------+---------------------+----------------+-------+ |Drill Hole|From (metres)|Intersection (metres)|Grade (% Cobalt)|Comment| +----------+-------------+---------------------+----------------+-------+ |DTRC-345 | 0| 3| 0.05|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-365 | 33| 9| 0.08|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-366 | 0| 6| 0.12|  | +----------+-------------+---------------------+----------------+-------+ |  | 15| 6| 0.09|  | +----------+-------------+---------------------+----------------+-------+ |  | 33| 3| 0.10|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-367 | 9| 3| 0.07|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-374 | 0| 3| 0.05|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-375 | 0| 6| 0.06|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-376 | 0| 6| 0.09|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-377 | 9| 3| 0.05|  | +----------+-------------+---------------------+----------------+-------+ |  | 27| 3| 0.08|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-386 | 27| 3| 0.05|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-390 | 3| 9| 0.12|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-394 | 6| 3| 0.05|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-397 | 0| 6| 0.07|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-403 | 0| 3| 0.07|  | +----------+-------------+---------------------+----------------+-------+ |DTRC-407 | 0| 6| 0.14|  | +----------+-------------+---------------------+----------------+-------+ Qualified Person Information in this report relating to exploration results is based on data reviewed by Mr John McDonald BSc, CGeol, FGS, Country Manager for African Eagle and is Chartered Geologist who has more than 34 years of relevant experience in mineral exploration, and is a Qualified Person under AIM rules. Mr McDonald has reviewed and consents to the inclusion of the information in the form and context in which it appears. Technical terms A glossary of technical terms used by African Eagle in this announcement and other published material may be found at http://africaneagle.co.uk/dutwa- glossary.asp About African Eagle African Eagle Resources plc is a mining explorer and developer with development projects in Tanzania and Zambia.  The Company's flagship project is the Dutwa Nickel project in Tanzania located about 25km south of Lake Victoria and 110km east of Mwanza within greenstone gold belts which host many of Tanzania's operating and developing gold mines.  The Company is quoted on the AIM market of the London Stock Exchange (AIM: AFE) and on the AltX of the Johannesburg Stock Exchange (AltX: AEA). For further information, please visit www.africaneagle.co.uk or contact: African Eagle Resources plc Trevor A. Moss (CEO) Alex Buck +44 20 7248 6059 Canaccord Genuity Limited (NOMAD) Rob Collins or Andrew Chubb + 44 20 7523 8000 Ocean Equities Limited (Joint Broker) Guy Wilkes +44 20 7786 4370 Russell & Associates, Johannesburg Charmane Russell or Marion Brower +27 11 880 3924 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: African Eagle Resources PLC via Thomson Reuters ONE [HUG#1619594]