Issue of Shares

African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining
                                 7 October 2010
          African Consolidated Resources plc ('ACR' or 'the Company')
 Issue of shares to Employee Benefit Trust and to directors and executives (the
                 Individuals) under a Joint Ownership Agreement

African  Consolidated  Resources  plc,  the  AIM listed resource and development
company  focused in Zimbabwe  announces that the  African Consolidated Resources
Employee   Benefit   Trust  ('the  Trust')  on  6 October  2010, subscribed  for
5,000,000 new ordinary shares of 1p each in the Company ('Shares') at a price of
9p per  Share  (the  'Subscription  Price').   As previously announced the Trust
enables  the Trustee to acquire  shares in the Company  and to make interests in
those  shares available for the  benefit of current and  future employees of the
Company  and  its  subsidiaries  ('the  Group')  as part of the Group's employee
incentivisation strategy.

The  Shares were acquired jointly  with a number of  directors and executives of
the  Group ('the Individuals')  pursuant to certain  conditions set out in Joint
Ownership  Agreements ('JOA's').   Purchase of  all of  the Shares was initially
funded  in  full  by  way  of  loan  contributions  from  the Company and from a
subsidiary  to  the  Trustee.   The  Individuals  are  to repay to the Company a
nominal  sum attributable to their initial  interest in the jointly owned Shares
and  in addition have the  obligation to pay a  further sum to the Trustee ('the
Additional Contribution').  The Additional Contribution is a sum due to be fixed
shortly by BDO Stoy Hayward LLP and which is to be calculated to reflect an arms
length purchase consideration for the rights of joint ownership obtained.

Rights  of  joint  ownership  obtained  by  an  Individual,  including rights to
dividends  and other distributions of capital, will vary over time and equate to
any  future increase in the value of the Shares less an amount equal to interest
at  5% per  annum  on  the  Subscription  Price.   An  Individual is entitled to
instruct  the  Trustee  to  sell  the  Shares  over which he has joint ownership
rights,  but subject to the condition that  in most instances an Individual will
only  be able to direct that the Trustee sell the Shares over which he has joint
ownership  rights in equal tranches  on or after each  of 31 August 2011 and 31
August 2012 and provided the Individual has not ceased his relationship with the
Group  on or before  the date of  sale notification.  The  Individuals are also,
under  certain circumstances, able to direct that the Trustee sell the Shares on
a  takeover, change of control, scheme  of arrangement or a voluntary winding-up
of  the Company.  Where these conditions are  not met, the Trustee has an option
to acquire the Individual's interests in the Shares at the lower of market value
or  a price equal to the Additional  Contribution paid by the Individual so that
none of any increase in the value of the Shares will accrue to the Individual.

Pursuant  to  the  terms  of  the  JOA's,  the  Trustees  shall consult with the
Individuals  and exercise  voting rights  attributable to  Shares over which the
Individual  has  ownership  rights  from  time  to  time  in accordance with the
Individual's wishes.  Voting rights will otherwise be exercised by the Trustee.

Application  is being made  for admission of  5,000,000 Shares to trading on the
AIM Market of the London Stock Exchange which is expected to occur at 08.00 a.m.
on 13 October 2010.

Following  the issue  of Shares  described above  the total  number of Shares in
issue  at the date  of this notice  is 369,402,451 with each  Share carrying the
right to one vote.

                 Notification of Directors' Interests in Shares

Directors  of  the  Company  on  6 October 2010 acquired interests in 4,000,000
ordinary Shares as set out below and which were subscribed for by the Trustee as
part  of the arrangements set out above.   These Shares were acquired jointly by
the Trustee and the directors pursuant to the JOA's as set out above.

                                                  Earliest sale date

 Director          No of shares   31/8/2011                31/8/2012



 A. N. Cranswick      1,500,000     750,000                  750,000

 M. W. Kellow         1,000,000     500,000                  500,000

 R. C. Tucker           750,000     375,000                  375,000

 H. S. Bottomley        750,000     375,000                  375,000
                 ----------------------------------------------------
                      4,000,000   2,000,000                2,000,000
                 ----------------------------------------------------



                                    **ENDS**

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

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

 Andrew Cranswick    African Consolidated Resources plc   [phone]

 Richard Swindells   Ambrian Partners                     [phone]

 Jennifer Boorer     Ambrian Partners                     [phone]

 Hugo de Salis       St Brides Media & Finance            [phone]

 Susie Callear       St Brides Media & Finance            [phone]





[HUG#1449973]








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Source: African Consolidated Resources Plc via Thomson Reuters ONE