RNS Number:1964R
African Eagle Resources PLC
22 October 2003

News Release                                                     22 October 2003

                          African Eagle Resources plc

                             GRANT OF SHARE OPTIONS

African Eagle announces that it has granted 1,500,000 options at an exercise
price of 11p to employees and directors of the Group, under the Company's share
option scheme.  The grants included 250,000 options each to Mr Park, Mr Davies,
Mr Parker and Mr Worthington, directors.

Under the rules of the scheme, the options may not normally be exercised before
the first anniversary of the date of grant and may not in any event be exercised
later than the fifth anniversary of the date of grant.

The total number of options now granted under the scheme is 4,413,000.

John Park

For further information                                      Tel                    Fax

John Park (Chairman)              African Eagle              00 61 7 5528 6750      00 61 7 5528 6750
Mark Parker (MD)                  African Eagle              015 9067 9420          020 7691 7745
Leesa Peters                      Conduit PR                 078 1215 9885          020 7936 9100
John Robertson                    Nabarro Wells              020 7710 7400          020 7710 7401

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