African Eagle Resources Regulatory News (AFE)

23 Jun 2006 10:22

African Eagle Resources PLC23 June 2006 AFRICAN EAGLE RESOURCES plc GRANT OF SHARE OPTIONS African Eagle announces that it has granted 3,600,000 share options on the 22June 2006 at an exercise price of 12.25p to employees and directors of theGroup, under the Company's share option scheme. The grants included: 375,000options each to Mr Davies and Mr Parker (Executive Directors); 350,000 each toMr Park (Chairman) and Mr Metcalf (Executive Director); and 250,000 each to MrWorthington and Mr Cooper (Non-executive Directors). Under the rules of the scheme, the options may not normally be exercised beforethe first anniversary of the date of grant and may not in any event be exercisedlater than the fifth anniversary of the date of grant. Bevan MetcalfCompany SecretaryAfrican Eagle Resources plc23 June 2006 About African Eagle African Eagle is a mineral resources company operating in eastern and centralAfrica. It holds projects in Zambia, Tanzania and Mozambique, countries withhighly prospective geology and low above-ground risks, which have all beendestinations for successful recent major investments in the metals and mineralsindustries. The Company has a highly motivated team, proven management and an experiencedboard. Its principal operation is the Mkushi Copper Mines projects in Zambia. Italso holds the Miyabi gold project in Tanzania, the Ndola copper project in theZambian Copperbelt and has discovered a large iron oxide copper gold (IOCG)system at Eagle Eye in Zambia. There is also a well-balanced portfolio ofpromising early stage exploration projects. For further information, see the Company's web site www.africaneagle.co.uk orcontact one of the following: Mark ParkerManaging Director+44 20 7248 6059+44 77 5640 6899 Bevan MetcalfFinance Director and Company Secretary+44 20 7248 6059+44 78 02776226 Leesa PetersConduit PR+44 20 7429 6600+44 78 1215 9885 This information is provided by RNS The company news service from the London Stock Exchange