Appointment of Non-executive Director and Direc...

African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining

24 April 2013

African Consolidated Resources plc ('ACR' or 'the Company')
Appointment of Non-executive Director and Director's Dealings

African Consolidated Resources plc, the AIM listed resource development company, is pleased to announce the appointment of Mr. Neville Nicolau as Non-executive Director with immediate effect.  Mr. Nicolau, who most recently held the position of Chief Executive Officer of Anglo American Platinum Limited ('Amplats'), the world's largest platinum producer, brings extensive operational experience to the Board as it furthers its strategy of becoming a mid-tier multi-commodity development and mining company.

Mr. Nicolau, who has a degree in Mining Engineering from the University of Johannesburg and an MBA from the University of Cape Town, has had a career spanning 34 years in the mining industry.  Having held high profile positions in international mining companies including Anglo American and AngloGold Ashanti, Mr. Nicolau has managed the development of numerous production assets across many jurisdictions in Africa, South America, the United States and Australia.  

In his most recent role as Chief Executive Officer of Amplats, Mr. Nicolau was responsible for the production of approximately 40% of the world's newly mined platinum.  Through his position on the Executive Committee of Anglo American plc, Mr. Nicolau was also instrumental in the development of numerous projects in diverse asset classes across the globe.  As Chief Operating Officer of AngloGold Ashanti, the world's third largest gold producer with an annual production of around 5.5 million ounces, Mr. Nicolau was responsible for operations worldwide.  

ACR Chief Executive Officer Craig Hutton said, "Neville is a highly experienced and respected mining professional, who brings an enormous breadth of knowledge to the ACR team at this critical time in our evolution into a development and mining company.  His previous incarnations as Chief Executive Officer of Anglo American Platinum and Chief Operating Officer of AngloGold Ashanti give him an exceptional insight into the development of a resource company, and we hope to use this to leverage our position into a mid-tier multi-commodity production company.  In addition to providing invaluable operational expertise, Neville's strong network of contacts with industry leaders will also be highly significant as we look to expand ACR's mineral footprint, acquiring additional quality assets through which to generate value for our shareholders."  

Director Dealings

Pursuant to Mr. Nicolau's appointment as Non-executive Director, the Company has awarded, on 24 April 2013, 2,000,000 options over ordinary shares of 1p each in the capital of the Company ('Options') to Mr. Nicolau.  The Options are exercisable at any time until 31 March 2016 at a price of 4 pence each, conditional upon Mr Nicolau's continued employment as a director of the Company to 31 December 2014.

Regulatory Information

Neville Francis Nicolau, aged 53, currently holds or has held the following directorships and partnerships in the last five years:

Current Directorships	Directorships held in the last five years
n/a	Anglo American Platinum Limited
	Anglo American South Africa Limited
	Anglo Platinum Management Services (Proprietary) Limited
	Rustenburg Platinum Mines Limited

There are no further disclosures to be made in relation to Neville Nicolau pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.

**ENDS**

For further information visit www.acrplc.com or please contact:

Roy Tucker     African Consolidated Resources plc   [phone]

[phone]

Craig Hutton     African Consolidated Resources plc   [phone]

Andrew Godber   Panmure Gordon (UK) Limited     [phone]

Callum Stewart     Panmure Gordon (UK) Limited     [phone]

Adam James     Panmure Gordon (UK) Limited     [phone]

Susie Geliher     St Brides Media & Finance Ltd     [phone]

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Source: African Consolidated Resources Plc via Thomson Reuters ONE

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