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Shareholding update - Secure Nominees Ltd01st June 2011

African Eagle Resources plc

Shareholding update - Secure Nominees Limited

African Eagle Resources plc ("African Eagle" or "the Company", ticker AIM: AFE; AltX: AEA) was notified on May 27, 2011 that on May 11, 2011 Secure Nominees Limited held a total of 12,425,000 ordinary shares in the Company which represents approximately 3.04% of the total voting rights of the Company.

The above notification was made by Spearpoint Limited pursuant to the FSA's Disclosure and Transparency Rules.

Bevan Metcalf

Company Secretary

For further information about the Company, see the Company's web site www.africaneagle.co.uk or contact one of the following:

Bevan Metcalf

Finance Director and Company Secretary

African Eagle Resources plc, London

+44 20 7248 6059

Andrew Chubb / Bhavesh Patel

Canaccord Genuity Limited

+44 20 7050 6500

Guy Wilkes

Ocean Equities Limited, London

+ 44 20 7786 4370

Charmane Russell / Marion Brower

Russell & Associates, Johannesburg

+27 11 8803924

+27 82 8928052

About African Eagle

Since discovering a major nickel oxide deposit at Dutwa in Tanzania, African Eagle is in transition from an explorer into a nickel producer. The Company is now working towards a pre-feasibility study at Dutwa which is scheduled for completion by the end of Q3, 2011. In addition the Company is also evaluating a second promising nickel oxide at Zanzui, which is located 60 km from Dutwa.

Aside from its nickel projects, the most valuable asset is the copper portfolio in Zambia which the Company plans to IPO later this year.

UK Office & Registered Address : 2nd Floor, 6-7 Queen Street, London, EC4N 1SP, UK,

+44 20 72 48 60 59 Fax +44 20 76 91 77 45 e-mail info@africaneagle.co.uk

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