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African Gold PLC (AFG)

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Monday 16 February, 2004

African Gold PLC

Director Shareholding

African Gold PLC
16 February 2004

African Gold plc announces that the following share options were granted to
Directors at a Board meeting held this morning:

John Teeling              700,000 options
Hank Slack                700,000 options
Oliver Baring             700,000 options
James Finn                400,000 options
John Anderson             250,000 options
David Horgan              250,000 options

All of the options are exercisable at any time before 16 February 2011 at a
price of 12.5p per share.

In addition, a holder of warrants over African Gold ordinary shares has
exercised their warrant over 2,000,000 shares. The new ordinary shares will
shortly be allotted and application will be made for the 2,000,000 new ordinary
shares to be admitted to trading on AIM. It is expected that admission of the
new ordinary shares will take place and dealings will commence on 20 February

                      This information is provided by RNS
            The company news service from the London Stock Exchange