Grant of Share Options

30 Oct 2007 13:00

African Eagle Resources PLC30 October 2007 AFRICAN EAGLE RESOURCES plc GRANT OF SHARE OPTIONS African Eagle Resources plc ("African Eagle" or "the Company", ticker AIM: AFE,AltX: AEA) today announces that it has granted 10,050,000 share options at anexercise price of 15p to employees and directors under the Company's shareoption scheme. The share options will become exercisable after 25 October 2008and will expire on 25 October 2012. The grants to directors included 875,000share options each to Mr Davies and Mr Parker; 850,000 share options each to MrPark and Mr Metcalf; 800,000 share options to Mr Worthington; and 750,000 shareoptions to Mr Cooper. 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 plc30 October 2007 For further information, see the Company's web site www.africaneagle.co.uk orcontact one of the following: Bevan Metcalf+44 20 7248 6059 Nicola MarrinSeymour Pierce+44 20 7107 8000 About African Eagle African Eagle is a mineral exploration and development company operating ineastern and central Africa. The Company's principal advanced projects are theMkushi Copper Mines project in Zambia and the Miyabi gold project in Tanzania,which are being prioritised towards production. The Company also holds a largewell-balanced portfolio of promising earlier stage gold and base metal projects,including the Ndola copper project and the Eagle Eye iron-oxide copper goldproject. African Eagle's projects are in Zambia, Tanzania and Mozambique, countries whichall have highly prospective geology, relatively low above-ground risks and trackrecords of successful major investments in the metals and minerals industries. African Eagle specialises in project generation and exploration and has a highlymotivated team, proven management and an experienced board. To take itsdiscoveries into production, it seeks to sign up industry partners with recordsof successful mine development. These joint ventures and, in time, the revenuefrom advanced projects, will finance future exploration and new discoveries. This information is provided by RNS The company news service from the London Stock Exchange