African Energy owns or is earning an interest in eight uranium projects covering approximately 9,000 square km in Southern Africa, ranging from bankable feasibility studies at the Njame and Gwabe deposits in the Chirundu JV in Zambia, to tenement holdings with prospective geology and uranium anomalies defined by airborne radiometric surveys. African Energy has a highly experienced Board of Directors and a management team with wide experience of exploring and developing mineral opportunities in Southern Africa.

The Company’s lead project is the Chirundu Joint Venture in southern Zambia. Through completion of a Pre-Feasibility Study, and delivery of an Indicated Resource, African Energy has earned a 70% equity interest in the Chirundu JV from Albidon Limited. A major programme of resource delineation drilling was completed in 2008 to provide infill drilling assay for resource re-classification and large diameter drill core for metallurgical test-work. The current Measured, Indicated and Inferred resource inventory stands at 3,935 tonnes U3O8 at an overall average grade of approximately 277 ppm U3O8, of which 2,360 tonnes U3O8 is at Njame, and the balance at Gwabe. A bankable feasibility study commenced on the Chirundu Project in May 2008. Engineering aspects of the BFS have been suspended during the current credit crisis, but the metallurgical test-work programme, geological mapping and environmental programmes are continuing at the project. The BFS will recommence when the Board of Directors consider it prudent in the context of equity market recovery.

In addition to increasing the resource base at Njame and Gwabe, African Energy’s exploration programmes have delivered excellent results, with the discovery of potentially economic grades and thicknesses of uranium mineralisation in reconnaissance drilling programmes at Chisebuka in the Kariba Valley JV, Zambia, and at the Foley uranium target in the Sese Project, Botswana. Further work is required at both projects to fully evaluate the potential of these opportunities, along with numerous other targets in Zambia and Botswana.

2 July 2009 appendix 3B - unlisted option allotment 25 June 2009 African Energy Resources Limited: Boardroom Radio Broadcast 12 June 2009 PRESENTATION TO BOTWANA RESOURCES CONFERENCE 11 June 2009 OPERATING COST ESTIMATE REDUCTION FOR CHIRUNDU URANIUM JV PROJECT 20 May 2009 presentation to the china nuclear energy congress 2009 29 April 2009 MARCH 2009 QUARTERLY ACTIVITIES AND CASHFLOW REPORT 15 April 2009 African Energy Resources Limited: Boardroom Radio Broadcast 14 April 2009 AFR enters into new Earn-In Agreement in Zambia 7 April 2009 Appendix 3B 3 April 2009 RELEASE OF SECURITIES FROM ESCROW