Shareholding update - MWB Limited

African Eagle Resources plc

MWB Limited Shareholding

African Eagle Resources plc ("African Eagle" or "the Company", ticker AIM: AFE;
AltX: AEA) was notified on 9 June 2011, that on 31 May 2011, MWB Limited,
increased its shareholding in the Company to 45,480,761 ordinary shares which
represents approximately 11.12% of the total voting rights of the Company.

The above notification was made by MWB 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.







This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: African Eagle Resources PLC via Thomson Reuters ONE

[HUG#1522741]


Unternehmen: African Eagle Resources PLC - ISIN: GB0003394813