Statement re Press Reports

African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining
                                22 December 2010
          African Consolidated Resources plc ('ACR' or 'the Company')
                           Statement re Press Reports

African  Consolidated  Resources  plc,  the  AIM listed resource and development
company  focussed  in  Zimbabwe,  notes  the  press  report of 20 December 2010
regarding  a statement made by  Mr. Obert Mpofu, the  Zimbabwe Minster of Mines,
which stated that all mineral claims held by the Company would be cancelled.

The  newspaper report alleges  that Mr. Mpofu  stated that the  licences will be
revoked  due to irregularities when  they were issued and  that all of them were
acquired fraudulently.

ACR  has not received any formal communication from the Minister of Mines or the
Government of Zimbabwe to the effect that its licences are being cancelled.

The   Board   of  ACR  wishes  to  confirm  categorically  that  there  were  no
irregularities  in the acquisition of any of its mining claims or licences known
to  it, and that, in  its opinion having taken  appropriate advice, none of them
were acquired fraudulently.

ACR  has been in dispute with the Zimbabwe Ministry of Mines since March 2007 in
connection  with its alluvial  diamond discovery at  Marange which discovery has
now  attracted  worldwide  attention.   ACR  continues  to assert that it is the
rightful  legal owner of  the claims on  which its discovery  was made, and will
continue  to do all  it can to  work with the  Government to resolve the Marange
issue in a transparent manner for the benefit of all stakeholders.

Further announcements will be made as required.

                                    **ENDS**

Andrew Cranswick             African Consolidated Resources [phone]
                             plc

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

Richard  Swindells           Ambrian Partners Limited       [phone]


Jen Boorer                   Ambrian Partners Limited       [phone]

Hugo de Salis                St Brides Media & Finance Ltd  [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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