Further developments

African Consolidated Resources Plc
02 July 2007


                       African Consolidated Resources Plc


Following the Report from the Chief Executive in the Preliminary Results for the
year ended 28 February 2007, African Consolidated Resources plc. an AIM listed
exploration company, wishes to announce further developments.

We continue our dialogue with relevant parties with a view to the possibility of
agreeing a joint venture on the ownership and operations of the Marange deposit,
prior to the hearing in the Zimbabwe High Court of our civil action in order to
recover the deposit. It is the Board's expectation that, in the event that we
were successful in securing an agreement that was satisfactory to us, Marange
would be fast tracked into production. In the light of this the Company has
reached a non binding understanding with a diamond plant operator who has built
plant that would be appropriate for initial operations at Marange and would be
available for our use in a short time span.


                                                                     2 July 2007




Enquiries:


African Consolidated Resources Plc
Andrew Cranswick                   [phone]
Roy Tucker                         [phone]
                                   [phone]


Evolution Securities

Simon Edwards/Lloyd Thomas         [phone]



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