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Company Information for African Consolidated Resources Plc

AIM-AFCR

www.acrplc.com

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AIM; AFCR

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Company Statement

African Consolidated Resources (ACR) is a mineral exploration company, based in the United Kingdom, with operations in Zimbabwe, Zambia and Mozambique.

ACR seeks to acquire and prove up top-quality gold, PGE, diamond and base metals assets, using state-of-the-art targetting and in-country knowledge.

Our two lead gold projects, the Giant and Pickstone-Peerless mines, historically produced approximately 1 million ounces of gold from high-grade underground operations. There remains excellent potential to exploit the lower-grade halo in all directions around the old mines, and ACR has a target of defining 2-3 million ounces using modern exploration targeting technology.

The two projects currently contain near-surface JORC resources of 813,000 Oz, much of which is expected to be open-pittable using modern mining methods. Depth potential is evidenced at the Pickstone Mine which was historically developed by Rio Tinto down to 750m depth.

In addition ACR have acquired a multitude of brown field and green field properties for gold and other minerals.

ACR uses leading-edge exploration technologies such as spatial data management software, 3D visualization, new geophysical modelling techniques, innovative geochemistry and risk-managed targeting, to generate a pipeline of exciting new projects across the whole of Zimbabwe, and the broader region.

Highlights

Admission to AIM, raising £4m at a price of 12p per share
Subsequent raising of $4.5m @14.50p
Good progress made in first phase drilling at Pickstone Peerless and Giant mines - including discovery of southern extension to the Giant Mine and confirmation of gold lodes on Duchess Hill at Pickstone. Comprehensive soil geochemistry has been completed on a major gold trend in the Lowveld (Southern Zimbabwe)
Acquisition of the eastern block of Snakes Head platinum finalised - now consolidating the entire known PGM-mineralised Musengesi chamber of the Great Dyke. Geological mapping completed on the west block. Mapping has identified the only known gabbro cap on the Great Dyke which appears to be fully intact - encouraging sulphide mineralisation observed in reconnaissance rockchips. Re-interpretation implies potential for higher grade marginal facies to be defined.
Three primary nickel targets acquired, two sulphide in Komatiite style and one laterite .
Perseverance target (sulphide) comprises 25x5km ultramafic structure. Defined with geophysics re-interpretation - partly under younger cover. Body confirmed by MMI geochemistry.
Marange alluvial diamond find - legal issues outstanding.
Lowveld kimberlites discovered - encouraging geochemistry

Our Mission

To be the premier explorer and miner in the re-emergent minerals industry in Zimbabwe.
Build a portfolio of prospective holdings in the region and progress to BFS.
To acquire in-ground resources at low outlay cost.
To add new resources through risk-managed exploration utilizing modern and proven techniques.
To use ACR's experience in the regional social, political and industrial systems to ensure, that wherever possible, logistical and operational challenges are rapidly overcome and sovereign risk is managed.

Current Operations

ACR’S KEY ASSETS

GOLD JORC defined + 800,000oz plus substantial additional potential with a new discovery at Blue Rock. Mines and near-mine exploration grounds:- Pickstone / Peerless / Giant / Blue Rock /One Step.
PLATINUM Definition of a substantial deposit (~50M Oz) in the Snakeshead area.
DIAMOND Major discovery at Marange, plus Multiple Kimberlites.
NICKEL Sulphides – Along strike with Perseverance Mine. 30km Strike layered Ultramafic. Laterite – 200,000 tonnes contained metal at Horseshoe.
ROCK PHOSPHATE Large deposit in rich carbonatite.
GOLD/COPPER /NICKEL Highly prospective green-field exploration tenements.

Pickstone - Peerless; Gold
Target > 1.5 Moz Pittable; 2 - 3 Moz incl underground. Currently 513,000 Oz Inferred Resource.

Large historical mining centre – two trends 300m apart
Historical production (Rio Tinto & others) of approx 427,000 Oz
Pickstone mined over 1200m strike length, 700m depth in Banded Iron Formation
Peerless developed to 4 levels, but only minor production. Host rock is brecciated dolomitic siltstone, shales.
Total mineralised strike to drill test; >6km
Target Resource; >1.5 MOz to 150m depth, 2 - 3M Oz overall. Excellent indications of deeper underground Resources in hangingwall/footwall of old mines.

The Pickstone-Peerless project has the ability to quickly add Resource/Reserve ounces through systematic drilling. Currently 513,000 Oz Resource at an average grade of 1.5 gms/tonne.

Giant mine & Gadzema Schist Belt; Au
Target >1 Moz Pittable
Currently 300,000 Oz Inferred and Indicated Resource.

Historic Production of 563,000 Oz of gold at 8.2 grammes/tonne
Hosted in the Gadzema schist belt within BIF
Historically an underground ore body
Not completely mined – open to north, south, and at depth
Excellent digital database from drilling in the 1990’s (Anglo-Cambrian JV)
Current JORC Resource stands at 300,000 Oz at an average grade of 2.2 grams /tonne.

One Step / Challenge; Au
Target open pittable Au in sheared basalts and felsics.

Historic drilling showed a best intercept in middle of lease of 24m at 2.6gms with over 400m of strike undrilled.
24 new claims acquired, and consolidated holdings now extend discontinuously over 4km of mineralized trend

Snakes Head, Great Dyke; PGE + Au, Cr
Target >30M Oz PGE + Au. Low grade, bulk underground

Perseverance Nickel Mine
Target Nickel in Chakari-south region. Close to ACR’s Giant Mine. Formerly RTZ mine closed after 8 years as Ni prices too low at USD 1500 p/m/t. Outlook bright with high Ni price and positive results. Drilling anticpated on 5 defined conductor bodies in second half 2008.

Chewore project; Ni, Cr, PGE
Target Ni-PGE in layered ultramafic complex. Prospective Ni and PGM’s

Other Greenstone Belt Targets (Au & Ni)
Targets generated from integrated exploration approach

Diamonds
Grass-roots exploration in areas of defined kimberlites. Positive geochemistry and micro-probe
Ready for production at Marange if legal dispute settled.

Geographical Spread

Southern Africa with immediate focus on Zimbabwe

Board of Directors and Key Management

Andrew Cranswick	Chief Executive Officer
Roy Tucker	Group Finance Director and Company Secretary
Michael Kellow	Technical Director
Stuart Bottomley	Non-Executive Director

Company Address

Nettlestead Place,
Nettlestead,
Maidstone
Kent, United Kingdom ME185HA


Email:	info[at]ACRplc.co.uk
Website:	http://www.acrplc.com

Additional Address/Key Contact

Zimbabwe Office
281A Herbert Chitepo Avenue
Harare
Zimbabwe

Technical Director (Exploration)
Mike Kellow
M: +263 912 239 301 (Zimbabwe)
M: +61 417 964 849 (Australia)

Group Finance Director and Company Secretary
Roy Tucker
P: +44 1622 816 918 (UK)
F: +44 1622 814 510 (UK)
M: +44 792 018 9012 (UK)

Capital

The number of shares in issue:- 358,102,451

Year End

28 February

Nominated Brokers

Ambrian Partners,
London

Nominated Advisors