African Eagle Resources Regulatory News (AFE)

24 Feb 2006 07:01

African Eagle Resources PLC24 February 2006 African Eagle Resources plc AFRICAN EAGLE COMPLETES PLACING African Eagle (Ticker: AFE, "the Company") announces that it has completed aplacing of 5,429,861 shares at a price of 17p per share, raising circa £0.9million in working capital. These allotments bring the total number of shares in issue to 118,565,722. TheCompany has made application for the new shares to be admitted to trading onAIM. John ParkChairmanAfrican Eagle Resources plc 24 February 2006 About African Eagle African Eagle is a mineral resources company with a tight focus on eastern andcentral Africa. It operates in Zambia, Tanzania and Mozambique, all countrieswith highly prospective geology and low above-ground risks, which have all seensuccessful major investments in their metals and minerals industries over recentyears. The Company has a highly motivated team, proven management and an experiencedboard. Its principal assets are the Miyabi gold project in Tanzania and theMkushi and Ndola copper projects in Zambia. It has discovered a large iron oxidecopper gold (IOCG) system at Eagle Eye in Zambia and holds a well-balancedportfolio of promising early stage 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 7980 1159 Chris DaviesOperations Director+44 20 7248 6059+44 78 6672 9959 Leesa Peters or Pam SpoonerConduit PR+44 20 7429 6600+44 78 1215 9885 This information is provided by RNS The company news service from the London Stock Exchange