African Eagle Resources plc : IFC subscription agreement signed

IFC's Head of Mining, Tom Butler, commented: "IFC is pleased to have signed an equity agreement with African Eagle Resources to support the company's Dutwa nickel project in Tanzania, which has the potential to become a major African nickel producer should the current feasibility study work continue to be successful. We look forward to helping African Eagle Resources implement environmental and social best practices for its mining activities."

For further information please see the Company's web site at or contact one of the following:

African Eagle Resources plc
Trevor Moss (CEO) + 1 925 577 1078
Mark Parker (Director) + 44 207 248 6059
Euan Worthington (Chairman) + 44 775 386 2097

Canaccord Genuity Limited
Rob Collins + 44 207 050 6500
Andrew Chubb

Ocean Equities Limited
Guy Wilkes [phone]

Russell & Associates, Johannesburg
Charmane Russell + 27 11 880 3924
Marion Brower

ABOUT IFC

IFC, a member of the World Bank Group, is the largest global development finance institution focused on private sector development in frontier and emerging markets. IFC provides financing to help businesses develop sustainable projects, thereby helping to reduce poverty by creating employment opportunities, supplying essential services, facilitating broader local supply chains and increasing government revenues. IFC aims to increase the amount of seed financing it provides to exploration-stage companies through its early equity mining program, as well as providing support to mid-tier mining companies by participating in project and corporate financing partnerships that will support mining development and expansion. IFC will continue to work with mining majors to develop large projects with the potential to transform national and / or regional economies. IFC's global mining portfolio spans 37 countries, of which 17 are in Africa, and totals more than US$400 million. IFC is also expanding its work in Advisory Services for the mining sector, by providing supply chain SME (Small and Medium Enterprise) capacity building, supporting community engagement so that local communities can benefit more from mining activities, and new programs to help the industry to use resources more efficiently with less impact on the environment. For more information, visit .