Shareholding update - MWB Limited

African Eagle Resources plc
TR1 Announcement - MWB Limited Increases Shareholding


African Eagle Resources plc ("African Eagle" or "the Company", ticker AIM: AFE;
AltX: AEA) was notified on January 31, 2011, that on that date, MWB Limited,
increased its shareholding in the Company to 41,230,761 ordinary shares which
represents approximately 10.08% 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 on African Eagle, see the Company's web site
www.africaneagle.co.uk or contact one of the following:

Bevan Metcalf
Finance Director
African Eagle Resources plc, London
+44 20 7248 6059
+44 77 5640 6899

Jeremy Stephenson
Nicola Marrin
Seymour Pierce Limited, London
Nominated Adviser and Co-Broker
+ 44 20 7107 8000

Guy Wilkes
Ocean Equities Limited, London
Co-broker
+ 44 20 786 4370

Charmane Russell / Marion Brower
Russell & Associates, Johannesburg
+ 27 11 8803924
+27 82 8928052







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(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#1484397]


Unternehmen: African Eagle Resources PLC - ISIN: GB0003394813