Admission to AIM

African Consolidated Resources Plc
30 June 2006



African Consolidated Resources plc
('ACR' or 'the Company')

AIM Listing



ACR, a mining exploration company with gold resources approaching 1 million oz,
in addition to platinum, nickel and diamond exploration rights in Zimbabwe, is
very pleased to announce its admission to the Alternative Investment Market.
ACR has raised £4 million of new equity and is capitalised £22.7 million.



Investment Case

•         Exciting and growing portfolio of assets which will profit from
current and projected commodity prices by:


-       Leveraging country risk discount
-       Utilising state of the art exploration technology to increase reserves
-       Addition of further assets through acquisition and discovery


•         Multi mineral portfolio spreads risk


•         Experienced management team with strong industry and regional
expertise


•         Working with communities to ensure local social and economic benefit


Zimbabwe and Corporate and Social Responsibility

•         ACR has been proactive in encouraging involvement and investment from
indigenous partners who are now and will remain, post listing, an important part
of the Company



•         Zimbabwean Government statements regarding its mining policy have
indicated the current law, along with proposed indigenisation strategies,
constitute a work in progress towards economically empowering the Historically
Disadvantaged Persons along a similar vein to the South African Black Economic
Empowerment programme



•         The Zimbabwean Government has specifically stated that exploration
companies will be less affected in the short term by empowerment strategies in
recognition of the costs and risks associated therewith



•         The Directors are confident that the ultimate policy and involvement
of indigenous partners will be rationally conceived and, in their opinion, will
neither endanger the investment of the Company's shareholders nor disadvantage
local communities



Corporate

•         ACR was formed to take advantage of the perception that Zimbabwean
business is high risk. The Directors are of the opinion that the real risks are
less than the perceived risks and that Zimbabwean mineral resources remain
significantly undervalued when compared to global peers



•         ACR has raised £4 million by selling 33 333 333 million new shares at
12.0p per share. The funds will be utilised for the Company's current
exploration and investment programme in addition to working capital and
corporate development requirements



Williams de Broe is acting as the Company's Nominated Adviser and Broker.


Operational Focus

•         Zimbabwe is a highly rich mineral province - in 1975 the country was
ranked as the fifth largest gold producer in the world. Zimbabwe also has one of
the best documented geological databases of the world's developing nations, with
a sophisticated mining environment and continues to possess an excellent
logistics infrastructure when compared with most other African states



•         In a short space of time, ACR has established an exploration company
with a considerable resource base - resources certified to date are 820,500 oz
of gold. ACR controls several hundred square kilometres of exploration ground
and has a variety of projects at stages from greenfield to pre-feasibility
resource definition drilling. ACR currently has six drill rigs operating on two
lead projects, which are expected to be available for the foreseeable future



•         ACR's primary focus is gold, however in order to protect against the
risk associated with a single commodity, ACR has evolved into a multi-mineral
explorer. ACR believes that its nickel, platinum and diamond prospects will also
significantly benefit from the application of profitable modern exploration
technology currently used elsewhere is the world



Ian Fisher, Executive Chairman of ACR commented:


'We believe that Zimbabwe contains substantial mineral reserves which are
considerably undervalued and under-exploited due to a lack of both capital
investment and modern exploration processes that have been successfully applied
elsewhere in Africa and the rest of the world.



Admission to AIM is an important step for ACR, enabling us to deliver our
strategy of creating value for our existing and prospective shareholders, whilst
ensuring that the local environment and the indigenous people are rewarded.



The Directors are taking a longer term view and are confident that the capital
investment required to prove up world class resources justifies any potential
risks. '



                                                                    30 June 2006



Enquiries:

African Consolidated Resources
   Ian Fisher, Chairman                   079 2018 9011
   Andrew Cranswick, Chief Executive      079 2018 9010

Williams de Broe
   Simon Edwards                          020 7588 7511

   David Pettman


College Hill
   Nick Elwes / Paddy Blewer              020 7457 2020






Notes to Editors:



ACR's existing JORC resources as verified in the Competent Person's Report,
written by SRK as presented in the Admission Document:


     Category                      Area                       Type         Tonnage    Grade      Content
                                                                              t        g/t         oz
                   'Pickstone & Peerless' Project Area
Inferred           Peerless Trend                        Oxide/Sulphide     4,600,000  1.4           210,000
Inferred           Concession Hill                       Oxide/Sulphide     3,200,000  1.8           180,000
Measured           2-3 Level Pickstone                   Sulphide             205,000  4.8            31,500
Measured           Big Red                               Tailings             380,000  1.3            15,900
Measured           Football Field                        Tailings             586,000  1.0            18,800
Measured           Concentrate                           Tailings             200,000  4.4            28,300
                                                                                                     484,500
                   'Giant' Project Area
Indicated &        Giant Mine Halo                       Oxide/Sulphide     4,944,000  2.1           336,000
Inferred
                                                                                                     336,000

Global Resource                                                            14,114,000  1.8           820,500





Management team:



Ian Fisher, Executive Chairman, aged 53

Ian Fisher was born in Zimbabwe and has lived in Western Australia for 30 years.
He has extensive knowledge of the mining and gas sectors in Zimbabwe and Central
Africa. He is a director of Carnegie Corporation Ltd., an Australian Stock
Exchange listed company with mineral sands production interests in Gambia. Ian
Fisher is the Chairman of the Western Australian Premier's Regional Investment
Group - a voluntary group of twelve financiers assisting with investment in
regional areas in Western Australia. He was also founding director of Atlas
Pacific Ltd., a South Sea pearl farming company listed on the Australian Stock
Exchange.




Andrew Cranswick, Chief Executive Officer, aged 43

Andrew Cranswick is Zimbabwean by birth and citizenship. He has, at various
stages over the past twenty-five years, been active in the mining and minerals
sector in Zimbabwe and Southern Africa and was a geologist assistant for Anglo
Gold (Vaal Reefs) in the 1980s. Returning to Zimbabwe in the late 1980s he
exploited the combination of Zimbabwe's emerging market status and the tech boom
by founding a group of IT companies including the country's first commercial
Internet Service Provider and the first major computer assembly line. Selling
the internet company to an international concern at the peak of

the dot.com boom in 2000, he returned to the mining sector as it began its
upturn.



Roy Tucker, Group Finance Director and Company Secretary, aged 65

Roy Tucker is a Chartered Accountant whose background is as a tax consultant. He
has co-founded and been involved in the management of various financial
businesses particularly in the banking and commodity sectors. He is chairman and
co-founder of South Africa based Legend Lodges Group which holds significant
tourism interests. He is also a director of Lisungwe plc which has mineral
exploration interests in Malawi. Roy Tucker is based in the UK.



Stuart Bottomley, Non-Executive Director, aged 61

Stuart Bottomley was appointed as a non-executive director of the Company on 27
May 2005. He worked as a stockbroker for nine years, before joining Dawnay Day
where he worked as a portfolio manager for the Target Group of Unit Trusts.
During his time with Target, he successfully managed the Special Situations Fund
and Target Energy. In 1984, he joined Fidelity International in London, working
with the ERISA group, focused on UK and European markets. Since leaving
Fidelity, Stuart has consulted for numerous private and public companies,
advised a number of Australian companies on admissions to AIM and assisted in
IPOs and other fundraisings. He is currently a non-executive director of
Centamin Egypt Ltd and Isis Resources Plc.



Michael Kellow, Technical Director, aged 50

Michael Kellow is an exploration geologist with over twenty-five years
experience in diverse gold, base-metals and uranium exploration in Archaean and
Proterozoic terranes both in Australia and Africa. He was team leader in
multiple discoveries of virgin mineral systems in Western Australia and the
Northern Territory, and has worked with a range of both junior and major mining
companies including Anglo American Corporation (now Anglo Gold), Gold Fields and
Sons of Gwalia. Michael Kellow was a founding director of Intierra Ltd, one of
the world's largest commercial databases on mining projects, companies and
management.



Dirk Benade, Senior Geologist, aged 57

Dirk Benade has 33 years mining geology experience on 49 mines in Zimbabwe in
both underground and open pit operations mining or exploring for copper, gold,
chrome and tungsten. Dirk Benade also has three years experience in Australia
exploring for copper, gold, uranium, tungsten and coal. As a partner in a
private company he was instrumental in building a well established analytical
laboratory in the Midlands area of Zimbabwe. He has worked for, among others,
Utah Development Company (now BHP-Utah) Anglo American, Messina Transvaal
Development and Falcon Mines, and latterly spent ten years with AIM-listed
African Gold plc, rising to Managing Director. He is fluent in the indigenous
languages of Zimbabwe. He currently acts as senior geologist for the Group.




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