African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining
11 May 2010
African Consolidated Resources plc ('ACR' or 'the Company')
Arrest of Company Officer
African Consolidated Resources Plc, the AIM listed resource development company
focussed in Zimbabwe, wishes to announce that Ian Harris, the Company's
Financial Controller, has been arrested on the charge that he fraudulently
acquired diamond claims in the name of companies that did not exist. The
Company is pleased to report that Mr. Harris has today been released on bail by
consent.
ACR believes these charges have been provoked by elements who have an interest
in the illegal mining currently being carried on at the Company's Marange
diamond claims ('Marange') in defiance of a Supreme Court Order, in an attempt
to intimidate its staff, discourage the Company in pursuing all necessary legal
actions to secure repossession of its diamond claims at Marange and discredit
the Company. The Company believes that the charges against Mr. Harris have no
legal basis.
The Company is otherwise continuing to make good progress in its exploration
activities across its portfolio of mineral assets across Zimbabwe and expects to
issue an announcement shortly detailing progress and results achieved to date.
**ENDS**
For further information visit www.acrplc.com or please contact:
Andrew Cranswick African Consolidated +44 (0) 7920 189010
Resources plc
Roy Tucker                        African Consolidated +44 (0) 1622 816918
Resources plc
+44 (0) 7920 189012
Richard Greenfield                Ambrian Partners Limited +44 (0) 20 7634 4700
Richard Brown Ambrian Partners Limited +44 (0) 20 7634 4700
Susie Callear St Brides Media & +44 (0) 20 7236 1177
Finance Ltd
Notes
ACR is an AIM-listed development company focussed on Zimbabwe, with over 12 key
projects covering gold, nickel, platinum, copper, phosphate and diamonds.
The Company has a defined development model to advance its projects and accrue
value, including generating short term cash flow. Its current focus is
therefore on early production from its significant gold projects; primarily the
Giant and Pickstone-Peerless mines, which contain near-surface JORC resources of
813,000oz, with upside from an emerging discovery, Blue Rock. ACR has a target
of defining 2-3 million open-pittable ounces using modern exploration
technology.
[HUG#1414910]
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