AFRICAN EAGLE
RESOURCES plc
DIRECTOR
APPOINTMENT
African Eagle Resources plc ("African Eagle"
or "the Company"; AIM: AFE; AltX AEA) is
pleased to announce the appointment of Julian Alexander McIntyre as a
Non-executive director, with immediate effect.
Mr McIntyre (aged 36) is a
successful entrepreneur and investor. He was a founder and controlling
shareholder of Gateway Communications Group ("Gateway"), a pan
African telecommunications business that established infrastructure in over 40
African countries. Mr McIntyre is also founder and a
principal of MWB Capital, a private investment company which currently holds
10.04% of the issued share capital of the Company.
In accordance with Schedule 2(g) of the AIM Rules, Mr McIntyre has held the following directorships and
partnerships in the past 5 years:
Ambrian Capital Plc,
Hendricks Resources Ltd, Gateway Telecommunications Plc, Gateway Communications
(UK) Ltd, Gateway Communications Africa (UK) Ltd, Gateway Telecommunications
Finance Plc, Gateway Communications SA, GS Telecom Ltd, Gateway Telecoms
Integrated Services Ltd, Spar Aerospace (Nigeria) Ltd, GS Telecom Africa Ltd,
GS Telecom Angola Ltd, GS Telecom (Ghana) Ltd, Gateway Communications
Mozambique Ltd, Gateway Communications Tanzania Ltd, Gateway Communications
(PTY) Ltd, GS Telecom (PTY) Ltd, Gateway Broadcast Services Ltd, The African
Christian Network Ltd, GTV (Zambia) Ltd, Gateway Telecommunications SA (PTY)
Ltd, GTV (Tanzania) Ltd, GTV (Uganda) SARL, GTV (Mozambique) Ltd, GTV
(Cameroon) SARL, GTV (Kenya) Ltd, GTV (Botswana) (PTY) Ltd, Gateway Broadcast
Services (Ghana) Ltd, Gateway Broadcast (Mauritius) Ltd, Gateway Broadcast
Services Namibia (PTY) Ltd, GTV (RDC) SARL, Right to Play UK Ltd, Digicom Networks (UK) Ltd, Global Wireless Applications
(UK) Limited.
Gateway
Broadcast Services Ltd ("GBS"), and its parent company, Gateway
Broadcast (Mauritius) Ltd ("GBM"), of which Mr
McIntyre was a director, were put into administration on 26 January 2009, and
following a board resolution a liquidator was appointed on 12 February 2009.
The primary operating company, GBS had unsecured creditors of �196,376,410, of
which �159,790,128 were intercompany creditors, primarily loans from the
ultimate parent company Gateway Telecommunications SA (PTY) Ltd. Recovery to
creditors was 4.546p in the pound.
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 /
Euan Worthington - Chairman
African Eagle Resources plc, London
+44 20 7248 6059
+44 7753 862 097
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 completed a positive scoping study
on the Dutwa deposit in July 2009 and is now working
towards a feasibility study.
In addition to Dutwa,
African Eagle is also evaluating a second promising nickel oxide at Zanzui, which is located 60 km from Dutwa.
The Company holds a 49% interest in the Mkushi Copper
Mines joint venture in Zambia, for which a draft feasibility study was
completed in Q4 2008. It also holds a half million ounce gold resource at the Miyabi project in Tanzania, and a portfolio of gold and
base metal exploration assets, including two projects in the Zambian Copperbelt.