RNS Number:3510P
African Eagle Resources PLC
04 September 2003

  News Release                                               4 September 2003

                          AFRICAN EAGLE RESOURCES plc


African Eagle recently completed a programme of diamond and RC drilling which
yielded some very good gold intersections, including 51metres at 2.2 grams per
tonne, 41.5m at 2.8g/t and 30.8m at 3.8g/t.

The Company has also made good progress on its general exploration programme at
Miyabi, completing additional airborne geophysical and multi-element soil
geochemical surveys, an IP survey and high-resolution ground magnetic surveys.
A programme of deep geochemical sampling using RAB drilling was completed
recently.  The results of all these surveys will be used to plan and optimise a
major drilling programme scheduled to begin in October.

The Company has also recently taken an option over an additional licence in the
area, bringing African Eagle's total holdings around Miyabi to 626 sq km.


One of the most promising undeveloped prospects in the Lake Victoria Goldfield,
Miyabi is a  shear zone hosted gold system, discovered by African Eagle using
soil geochemical surveying.  It contains several gold-bearing structures within
the 7km x 2km "Miyabi Mineralised Corridor".  Much of African Eagle's recent
exploration has been directed at providing a better understanding of the
disposition of the gold in the system, as the rocks are deeply weathered and do
not outcrop at the surface.

The gold system lies in an outlier of Nyanzian greenstone rocks and African
Eagle now holds almost the whole area of this outlier.  The signature recently
of an option agreement with Ekta Resources (Tanzania) Limited bringing African
Eagle's Miyabi holdings to 626 sq km. The Company's current exploration
programme is also directed towards identifying other gold mineralised structures
within this area.

African Eagle is exploring Miyabi with Gold Fields Limited, which holds an
exclusive right until December 2003 to enter into a joint venture on the
property and has financed much of the current exploration through two equity
placings in the Company.


A program of nine RC holes and seven orientated diamond drill holes with RC
pre-collars, for a total of 1045 metres of RC and 301m of core drilling, was
completed on 20 July.  The aim of the drilling was to define better and improve
understanding of the mineralised structures at Kilimani, Shambani and Ngaya,
three of the individual Miyabi prospects.  Laboratory results now received
include the following better intersections:

                                                     From       Intercept                Au
Prospect             Hole                             (m)             (m)             (g/t)

Kilimani             MBRC 99                           24              51               2.2
                             incl                      54               3               4.1
                             incl                      66               9               6.2
                     MBRC 100                          18               6               1.6
                             and                       30              36               2.3
                     MBRC 103                          48              12               2.3
                             and                       63              12               1.5
                     MBDH 1                          34.4            41.6               1.9
                             incl                    45.6             7.4               5.0
                     MBDH 2                            36            41.5               2.8
                             incl                    45.6            12.5               5.1

Shambani             MBDH 4                            23              15               2.1
                     MBDH 5                          27.4             3.8               6.4
                             and                     44.5            11.3              10.6
                             incl                      47             3.3              30.1
                     MBDH 6                            15            30.8               3.8
                             incl                      24             7.3               4.9
                             incl                    39.6             5.2               5.8

Ngaya                MBRC 111                           3               3               4.2
                             and                       60               9               1.0
                     MBDH 7                          38.3             3.7               4.1

The results confirm the continuity of the mineralisation at Kilimani and
Shambani, and provide new information on Ngaya.

In addition, a 4960m programme of widely spaced RAB drilling was completed in
late August, to provide geological information, to delineate strike extensions
to the known prospects and to investigate the structure of the "Miyabi 
Corridor".  Laboratory results are awaited.


A geophysical induced polarisation (IP) survey is currently underway over the
Miyabi Corridor.  Results to date are encouraging.  The Corridor is expressed as
a broad conductive, high-IP zone containing internal structure which accords
well with the known mineralization and also indicates several other promising

High resolution ground magnetic surveys with 10m traverse spacing have been run
over the principal gold prospects and are being extended to cover much of the
Miyabi Corridor.  The results are giving considerable help in mapping and
understanding the hidden geological structures which host the gold.

To explore the wider 626 sq km Miyabi area, African Eagle has carried out
regional soil geochemistry and airborne geophysics.

The Company's soil sampling teams have completed a 400 x 400m staggered grid of
the area and are now conducting closer-spaced infill sampling over anomalous
areas.  All soil samples were assayed for gold and the results have revealed
several new anomalies.  In addition, multi-element analysis is being conducted
on the samples and the results to date provide important information on geology
and mineralisation.

African Eagle has also completed airborne magnetic and gamma ray spectrometric
surveys over the whole wider Miyabi area.  The results provide valuable
geological and structural information in this deeply weathered area and show
that the Miyabi Mineralised Corridor lies on a major northeast trending

The results of these and previous surveys are currently being used to plan a
major drilling programme scheduled to begin in October.

Concurrently with the work at Miyabi, African Eagle is exploring at Eagle Eye,
its iron-oxide copper gold discovery in Zambia.  The Company anticipates that
announcements of results at Eagle Eye will be made over the coming weeks.

John Park
Chairman, African Eagle Resources plc

For further information:                                      Tel                     Fax

John Park (Chairman)                    African Eagle         00 61 7 5528 6750       00 61 7 5528 6750
Mark Parker (Managing Director)         African Eagle         01590 679 420           020 7691 7745
Chris Davies (Operations Director)      African Eagle         029 20512807            029 20515885

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