Marange Update

African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining
                                8 November 2010
          African Consolidated Resources Plc ('ACR' or 'the Company')
                                 Marange Update

African  Consolidated  Resources  Plc,  the  AIM listed resource and development
company  focussed in Zimbabwe, announces that is has been charged with fraud and
in  the alternative with  offences under the  Zimbabwe Precious Stones Trade Act
('the  Charges') in the high Court of  Zimbabwe.  The Charges are all vigorously
denied  and it is  ACR's contention that  they are completely without substance.
 ACR  welcomes the opportunity to  call witnesses and to  defend itself in court
against the Charges.

As announced on 21 September 2010:

  * On   6 September   2010 the  High  Court  gave  judgement  ('the  Rescission
    Judgement')  rescinding the  previous High  Court Judgement  ('the September
    2009 High Court Judgement') which confirms ACR's title to its diamond claims
    at Marange ('the Marange Claims').


  * ACR  has appealed against the Rescission Judgement to the Supreme Court, the
    hearing of which is likely to take some time.


  * Pending the appeal against the Rescission Judgement, the September 2009 High
    Court  Judgement remains in force with the  result that ACR remains the only
    legal holder of the Marange Claims.


The basis of the Charges is that the formation of the claim holding subsidiaries
was  not completed until shortly after  the Marange Claims were registered which
is  alleged  to  have  been  an  unlawful  act amounting to fraud.  ACR has been
legally  advised that  this should  make no  difference to  the validity  of the
Marange Claims, and accordingly that the Charges are groundless.

ACR  has at all times acted both  honestly and transparently in all matters both
concerning  its acquisition  of the  Marange Claims  and its  defending of title
thereto.   ACR continues to repeat its desire to work with Government to resolve
the  Marange issue  in a  way which  is fair  both to  ACR and  to the people of
Zimbabwe,  and ACR  is continuing  to make  every effort  that it can to achieve
this.

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

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]




[HUG#1460184]








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