Gold Resource at Gadzema Project reaches 1 mill...

African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining
                                 4 August 2011
          African Consolidated Resources plc ('ACR' or 'the Company')
           Gold Resource at Gadzema Project reaches 1 million ounces

African  Consolidated  Resources  Plc,  the  AIM listed southern African focused
resource  development company, is pleased to  announce a JORC Compliant Resource
upgrade  on  its  Gadzema  Gold  Project  in  the  northern midlands district of
Zimbabwe ('Gadzema' or 'the Project').

Highlights

  * Resource  upgrade available  for the  final 8,000m of  a total 13,000m drill
    programme completed in May 2011
  * The  Resource upgrade  relates to  drilling strike  extensions on  two zones
    covering  approx   400m  and  700m of  strike  within ACR's approx. 8km long
    Gadzema project
  * This recent drilling has added 119,000oz to the Gadzema gold inventory
  * The total Gadzema Resource now stands at 27Mt @ 1.2g/t for 1.03Moz at cutoff
    grades of 0.5-0.6 g/t, of which 276,000oz are in the Indicated category, and
    the remainder in the Inferred category
  * The  drilling programme identified  multiple parallel shear  zones, which in
    some areas coalesce into areas of semi-continuous mineralisation up to 600m
    wide demonstrating the strong potential for large scale open-pit mining


ACR  commenced an intensive drilling programme at Gadzema in January 2011, using
two  Reverse  Circulation  ('RC')  rigs  on  double shifts, and a diamond coring
('DC')  drill  rig.   The  programme,  which  covered approximately 13,000m, was
completed in mid-May 2011.

The current study includes sample and assay data for the final 63 RC drill holes
and one diamond core hole drilled by ACR, totaling 8,000m.

The  drilling was carried  out to test  a sub-outcropping felsic intrusion where
north  trending  thrusting  has  created  large  quartz-sulphide  stockwork vein
systems  in the felsic porphyry, and in adjacent banded iron formations and talc
schists.   The  two  areas  drilled  were  on east-west oriented drill traverses
spaced  at 80m northings and approximately 40m on  section.  All drill holes are
angled  steeply (~60 degrees) towards grid west, normal to the general strike of
the gold mineralisation.

Drilling tested the mineralisation, which dips steeply to the east, to depths of
approximately 100-120m vertically below surface.  Assays were carried out at 1m
intervals by Fire Assay method using ISO accredited laboratories in South Africa
and Zimbabwe.

Significant intercepts from the above drilling are tabulated below;

+----------------------------------------------------------------+
| Hole ID   From Depth m   To Depth m   Intercept m   Grade  g/t |
|                                                                |
| BRRC201       102           136           34           3.1     |
|                                                                |
| BRRC188        9             32           23           1.2     |
|                                                                |
| BRRC125        47            58           11           1.5     |
|                                                                |
| BRRC186        68            78           10            1      |
|                                                                |
| BRRC200       149           158            9           1.3     |
|                                                                |
| BRRC184        57            65            8           2.3     |
|                                                                |
| BRRC197        64            72            8           1.6     |
|                                                                |
| BRRC182        34            41            7           2.7     |
|                                                                |
| BRRC189        39            45            6           2.1     |
|                                                                |
| BRRC185        92            96            4           6.5     |
|                                                                |
| BRRC196        59            62            3           4.6     |
|                                                                |
| BRRC187        13            15            2           21.3    |
|                                                                |
| BRRC162        25            26            1           18.3    |
+----------------------------------------------------------------+
Table 1: Significant intercepts from recent RC drilling.



ACR's total gold Resources are tabulated below:

+------------------------------------------------------------------------------+
|ACR JORC Gold Resources August 2011                                           |
+--------------+---------+-----+----------+----------+------------+------------+
|              |   Oz    |Grade|  Tonnes  |Cutoff g/t|    JORC    |  Vertical  |
|              |         |     |          |          |  Category  |  Depth of  |
|              |         |     |          |          |            |  Drilling  |
+--------------+---------+-----+----------+----------+------------+------------+
|Peerless ACR  |  210,000|  1.4| 4,600,000|   0.5    |Inferred    |Av 100m; max|
|drilling      |         |     |          |          |            |150m        |
+--------------+---------+-----+----------+----------+------------+------------+
|Concession ACR|  240,000|  1.5| 4,800,000|   0.5    |Inferred    |Av 100m; max|
|drilling      |         |     |          |          |            |150m        |
+--------------+---------+-----+----------+----------+------------+------------+
|Dumps,        |         |     |          |          |            |            |
|Pickstone-    |         |     |          |          |            |            |
|Peerless      |         |     |          |          |            |            |
+--------------+---------+-----+----------+----------+------------+------------+
|       Big Red|   15,900|  1.3|   380,000|   1.0    |Measured    |            |
+--------------+---------+-----+----------+----------+------------+------------+
|Football Field|   18,800|  1.0|   586,000|   1.0    |Measured    |            |
+--------------+---------+-----+----------+----------+------------+------------+
|   Concentrate|   28,300|  4.4|   200,000|   1.0    |Measured    |            |
+--------------+---------+-----+----------+----------+------------+------------+
|Total         |  513,000|  1.5|10,566,000|          |            |            |
|Pickstone-    |         |     |          |          |            |            |
|Peerless      |         |     |          |          |            |            |
|Resource      |         |     |          |          |            |            |
+--------------+---------+-----+----------+----------+------------+------------+
|              |         |     |          |          |            |            |
+--------------+---------+-----+----------+----------+------------+------------+
|Gadzema       |1,031,000|  1.2|27,000,000| 0.5-0.6  |Inferred-   |Av 100m; max|
|Resource*     |         |     |          |          |Indicated   |150m        |
+--------------+---------+-----+----------+----------+------------+------------+
|*Includes     |         |     |          |          |            |            |
|Giant Mine and|         |     |          |          |            |            |
|Blue Rock     |         |     |          |          |            |            |
|Resource      |         |     |          |          |            |            |
+--------------+---------+-----+----------+----------+------------+------------+
|TOTAL ALL1    |1,544,000|  1.3|37,566,000|          |Inferred,   |Av 100m-150m|
|              |         |     |          |          |Measured    |            |
+--------------+---------+-----+----------+----------+------------+------------+
|1 Excludes    |         |     |          |          |            |            |
|Giant Dump -  |         |     |          |          |            |            |
|to be JORC    |         |     |          |          |            |            |
|calculated    |         |     |          |          |            |            |
+--------------+---------+-----+----------+----------+------------+------------+


Table 2:  Total gold Resource inventory

ACR  Technical  Director  Michael  Kellow  said,  "Reaching  the 1 million ounce
milestone  at our  Gadzema Gold  Project is  a significant  step in  our ongoing
exploration  of the  belt where  we now  have significant  intercepts on several
zones  over approximately  8km of strike  length with  potential open pit mining
widths of up to 600m demonstrated.

"Following a successful fundraising last month for further exploration drilling,
between  10,000 to 30,000m of drilling  will be committed  in the second half of
2011.  This   will   explore  strike  extensions  of  known  mineralisation  and
additional  diamond  core  drilling  will  provide  information  on  alteration,
structure,  mineralogy and rock mechanics as we advance our strategy of defining
a  total resource of 2 million ounces of gold  at our Gadzema Gold Project by Q4
2012."

The  technical elements of this report have  been reviewed by Mr. Michael Kellow
(the  Company's Technical  Director). Michael  Kellow (BSc)  is a  member of the
Australian  Institute of Geoscientists (AIG) and a full-time employee of African
Consolidated  Resources  Plc.  Mr.  Kellow  has  sufficient  experience which is
relevant  to the style of mineralisation and type of deposit under consideration
and  to the activity which he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the "Australian Code for Reporting of Exploration
Results,  Mineral Resource  and Ore  Reserves" (JORC  Code) and  as a "qualified
person"  as defined in the  AIM Note for Mining,  Oil and Gas Companies. Michael
Kellow consents to the publication of this report.


                                    **ENDS**

For further information visitwww.acrplc.com or please contact:

 Roy Tucker          African Consolidated Resources plc   [phone]
                                                          [phone]

 Andrew Godber       Panmure Gordon (UK) Limited          [phone]

 Callum Stewart      Panmure Gordon (UK) Limited          [phone]

 Abhishek Majumdar   Panmure Gordon (UK) Limited          [phone]

 Susie Geliher       St Brides Media & Finance Ltd        [phone]



                                    Glossary



+----------------------------+-----------------------------------------+-------+
|Term                        |Explanation                              |Acronym|
+----------------------------+-----------------------------------------+-------+
|Au                          |chemical symbol for gold                 |       |
+----------------------------+-----------------------------------------+-------+
|banded iron-formation       |chemical  sedimentary rock  consisting of|BIF    |
|                            |iron and quartz                          |       |
+----------------------------+-----------------------------------------+-------+
|diamond drilling            |Drilling    method   using   a   diamond-|       |
|                            |impregnated  cutting bit to obtain a core|       |
|                            |sample of rock                           |       |
+----------------------------+-----------------------------------------+-------+
|dip                         |the  orientation  of  a planar geological|       |
|                            |feature relative to horizontal           |       |
+----------------------------+-----------------------------------------+-------+
|disseminated sulphide       |Accumulations  of sulphide minerals where|       |
|                            |the  grains  are  not  separated by other|       |
|                            |minerals  and are not in physical contact|       |
|                            |with each other.                         |       |
+----------------------------+-----------------------------------------+-------+
|fault                       |a fracture or break within a body of rock|       |
|                            |across which some movement has occurred  |       |
+----------------------------+-----------------------------------------+-------+
|felsite                     |silica  rich  igneous  rock,  aka  felsic|       |
|                            |volcanic                                 |       |
+----------------------------+-----------------------------------------+-------+
|greenstone belt             |belts  of  metamorphosed  sedimentary and|       |
|                            |igneous rocks of Archaean age            |       |
+----------------------------+-----------------------------------------+-------+
|igneous rock                |originally  molten  can  be  volcanic  or|       |
|                            |intrusive                                |       |
+----------------------------+-----------------------------------------+-------+
|JORC                        |Joint   Ore  Reserves  Committee  of  the|       |
|                            |Australasian   Institute  of  Mining  and|       |
|                            |Metallurgy                               |       |
+----------------------------+-----------------------------------------+-------+
|laterite                    |highly weathered rock usually conforms to|       |
|                            |a   consistent  weathering  pattern  from|       |
|                            |surface  and  often  redistributes  gold,|       |
|                            |nickel   or   aluminium   to   ore  grade|       |
|                            |concentrations  above the  primary source|       |
|                            |at depth.                                |       |
+----------------------------+-----------------------------------------+-------+
|mineralisation              |metallic minerals such as gold, base     |       |
|                            |metals, pyrite and arsenopyrite          |       |
|                            |incorporated in rocks                    |       |
+----------------------------+-----------------------------------------+-------+
|mineralised zones           |hydrothermally     altered     structural|       |
|                            |features  containing potentially valuable|       |
|                            |minerals                                 |       |
+----------------------------+-----------------------------------------+-------+
|orebody                     |economically    viable   portion   of   a|       |
|                            |mineralised zone                         |       |
+----------------------------+-----------------------------------------+-------+
|pyrite                      |iron  sulphide  mineral  often associated|       |
|                            |with gold                                |       |
+----------------------------+-----------------------------------------+-------+
|pyrrhotite                  |iron sulphide mineral                    |       |
+----------------------------+-----------------------------------------+-------+
|quartz                      |silicon  oxide  mineral  very  common  in|       |
|                            |hydrothermal deposits                    |       |
+----------------------------+-----------------------------------------+-------+
|resource                    |mineral  resource as defined  by the JORC|       |
|                            |Code 2004                                |       |
+----------------------------+-----------------------------------------+-------+
|reverse circulation drilling|rotary  percussion  drilling  whereby the|RC     |
|                            |sample  is returned from the cutting head|       |
|                            |inside  the rod string to surface thereby|       |
|                            |avoiding  contamination from the walls of|       |
|                            |the hole                                 |       |
+----------------------------+-----------------------------------------+-------+
|schist                      |metamorphic   rock  with  well  developed|       |
|                            |foliation                                |       |
+----------------------------+-----------------------------------------+-------+
|stockworks                  |zone of multiple quartz filled fractures |       |
|                            |with individual veins often of random    |       |
|                            |orientation                              |       |
+----------------------------+-----------------------------------------+-------+
|strike                      |the horizontal orientation of a planar   |       |
|                            |geological feature                       |       |
+----------------------------+-----------------------------------------+-------+
|talc                        |magnesium iron silicate mica of          |       |
|                            |metamorphic origin                       |       |
+----------------------------+-----------------------------------------+-------+
|thrust                      |shallow dipping fault where the upper    |       |
|                            |body of rock overrides the lower portion |       |
+----------------------------+-----------------------------------------+-------+
|UNITS                       |                                         |       |
+----------------------------+-----------------------------------------+-------+
|g                           |gramme                                   |       |
+----------------------------+-----------------------------------------+-------+
|g/t                         |grammes per metric tonne - metal         |       |
|                            |concentration                            |       |
+----------------------------+-----------------------------------------+-------+
|km                          |kilometre                                |       |
+----------------------------+-----------------------------------------+-------+
|m                           |metre                                    |       |
+----------------------------+-----------------------------------------+-------+
|Mt                          |million metric tonnes                    |       |
+----------------------------+-----------------------------------------+-------+
|Moz                         |million ounces                           |       |
+----------------------------+-----------------------------------------+-------+
|oz                          |fine troy ounce equaling 31.1048 grammes |       |
|                            |- normal unit used in selling gold       |       |
+----------------------------+-----------------------------------------+-------+
|ppb                         |parts per billion                        |       |
+----------------------------+-----------------------------------------+-------+
|ppm                         |parts per million, equivalent to g/t     |       |
+----------------------------+-----------------------------------------+-------+
|t                           |metric tonne                             |       |
+----------------------------+-----------------------------------------+-------+








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