RNS Number:3740S
African Eagle Resources PLC
21 November 2003

                          African Eagle Resources plc

               ISSUE OF SHARES ON EXERCISE OF WARRANT AND OPTIONS


African Eagle announces that the holder of 225,000 warrants has exercised at a
price of 6p and that a holder of 35,000 employee options has exercised at a
price of 8p. The Company has made application for the new shares to be admitted
to trading on AIM.



21 November 2003




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