RNS Number:7203M
African Eagle Resources PLC
24 June 2003

                          AFRICAN EAGLE RESOURCES PLC

For release at 8 a.m. 25 June 2003

                         AIM ADMISSION AND FUND RAISING

African Eagle Resources plc ("African Eagle" or "the Company") announces that
the ordinary shares of the Company have today been admitted to trading on AIM.
Concurrently, the Company has successfully raised #1.46 million before expenses
by way of a placing of new ordinary shares valuing the Company on AIM admission
at #3.5 million at the placing price of 6p per share.  The net proceeds of the
Placing will be used to progress the Company's minerals exploration programmes
in eastern and southern Africa.

African Eagle explores for gold and other mineral deposits in the eastern and
southern African countries of Tanzania, Zambia and Mozambique.  In Tanzania,
African Eagle is in partnership with major gold producer Gold Fields Ltd and in
Zambia with AngloVaal Mining (Avmin).

The African Eagle Board and management have considerable experience in minerals
exploration and mining.  They contribute excellent knowledge of the region
through direct involvement over many years, a high-tech approach to exploration
and an up-to-date understanding of the geology and economics of mineral
deposits.  Members of the African Eagle team have track records of taking
projects from grassroots exploration through evaluation and feasibility, then
into operation or joint venture with major mining companies.

Nabarro Wells & Co. Limited is the Company's Nominated Adviser, Durlacher Ltd.
the Broker and VSA Resources the Placing Agent.

The AIM admission document is available from the Company's registered office or
from its advisers (listed below) and may be downloaded from its website:

25th June 2003

For further information please contact:

African Eagle Resources
Mark Parker - Managing Director                01590 679 420

Durlacher Ltd
Matthew Robinson                               020 7459 3600

Nabarro Wells & Co. Limited
John Robertson                                 020 7710 7400

4C Communications Ltd
Carina Corbett                                 020 7907 4761

                      This information is provided by RNS
            The company news service from the London Stock Exchange

                      This information is provided by RNS
            The company news service from the London Stock Exchange