New Drilling at African Eagle’s High-grade Msasa Gold Project

New Drilling at African Eagle’s High-grade Msasa Gold Project

AIM quoted African Eagle Resources plc (”African Eagle” or ”the Company”, ticker AIM: AFE) is pleased to announce that MDN Northern Mining (”MDN”, TSE:MDN) has started reverse circulation drilling at the Company’s 90 per cent owned Msasa Gold Project in Tanzania.

Under an option agreement signed in May 2006, MDN is investing US$200,000 in exploration at African Eagle’s Msasa project, to earn the right to acquire a 51% interest in the project by investing a further US$1.7m. MDN can then increase its participation to 65% by financing a feasibility study.

Exploration already carried out by African Eagle has returned gold assay values indicating that the Msasa area holds high-grade mineralisation with similarities to that at Tulawaka Gold Mine, 15km to the northeast, which is a joint venture between MDN (30%) and Barrick Gold Corporation (70%). African Eagle’s Msasa drilling intersected gold-bearing quartz veins, including one very high grade section which assayed 81 grams per tonne of gold over 9 metres.

African Eagle’s Managing Director Mark Parker comments ”Our own drilling, geophysics and geochemistry has revealed that Msasa could be a significant high-grade deposit. At this location, which is within easy trucking distance of the Tulawaka plant, even a small high-grade deposit would be significant. MDN is showing a strong commitment to this project and we are looking forward keenly to the results of the drilling programme”.

Warmest regards,


Angus Prentice Conduit PR 76 Cannon St London EC4N 6AE Tel: + 44 (0)20 7429 6603 (dir) Mob: +44 (0)7974 982 512 Tel: +44 (0)20 7429 6666 (main) Fax: +44 (0)20 7429 6699

It is understood that the Consultant is not registered as either a Registered Representative nor Broker-Dealer nor Advisor under the Financial Services Act, and the services to be performed by the Consultant shall not include the offering or sale of any securities. As part of the Consultant duties, the Consultant may discuss or distribute factual information on behalf of the company and they shall not make any recommendation with respect to purchase or sale of any securities of the Company.

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