African Eagle Resources appoints Venkat Siva, Paul Colucci and Mark Thompson as Non-Executive Directors

London-UK / Johannesburg-SA – The Directors of African Eagle announce the following changes to the board of the Company (the “Board”) which took place today.

Following completion of the disposal of substantially all of the Company’s subsidiaries, assets and liabilities in respect of its Tanzanian operations, and the adoption by the Company of its investing policy as an investing company under the AIM Rules, Dr Chris Pointon, Mr Donald Newport and Ambassador Paul Rupia have resigned as Non-Executive Directors with immediate effect and Mr Venkat Siva, Mr Paul Colucci and Mr Mark Thompson have been appointed as Non-Executive Directors, also with immediate effect.

Mr Venkat Siva has over 6 years’ experience in finance as an investor and fund manager, and has managed McIntyre Partners’ portfolio since 2009. At McIntyre Partners, he led the due-diligence, deal execution and investment management efforts across several transactions in the energy, bulk commodities and infrastructure sectors. Prior to this, Venkat worked as a corporate finance banker within Goldman Sachs’ M&A franchise. During his tenure at Goldman, he advised some of the UK’s leading blue-chip and mid-cap companies, including Cadbury’s, Tesco’s, and the BBC, amongst others, on issues relating to M&A, fundraising, restructuring and strategy. Venkat previously worked for Motorola in Singapore, and holds an MBA from the Indian Institute of Management.

Mr Paul Colucci is an investment banker with over 15 years’ experience in M&A and corporate finance in the natural resources sector. Paul is currently Executive Vice President and Head of Dundee Securities European office based in London as well as CEO of Dundee Arabia-Asia based in Dubai, UAE. Before launching Dundee’s initiatives in London in 2011, Paul spent the previous six years heading the European businesses of Stifel Nicolaus and its predecessors, Thomas Weisel Partners Group and Westwind Partners. Prior to moving to London in 2006, Paul worked as an investment banker in Canada (Toronto and Calgary), where he began his career in CIBC’s Energy Investment Banking group. Paul holds a Bachelor of Commerce Degree from the University of Calgary, Canada and is a CFA Charterholder.

Mr Mark Thompson is the former Chief Investment Officer and co-founder of Galena Asset Management Ltd, the fund management arm of Trafigura Beheer b.v., and latterly a partner at Apollo Management, one of the world’s largest alternative asset managers. Mark has managed in excess of $750m, across four separate funds, all of which were focused on natural resources. Mark has extensive experience in raising capital for natural resource companies, portfolio management, commodity derivatives trading and personal investment in the natural resources sector. He is executive Chairman of Treliver Minerals Ltd and a non-executive Director of TSX.V listed Eurotin Inc, as well as holding a number of directorships in private companies engaged in mineral exploration. Mark holds an M.A. from Oxford University, having completed his undergraduate degree in Physics.

About African Eagle

African Eagle Resources plc is listed on the AIM Market of the London Stock Exchange (AFE) and Johannesburg AltX (AEA) stock exchanges.

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