Company Update and Corporate Presentation

African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining

22 April 2013

African Consolidated Resources plc ('ACR' or 'the Company')
Company Update and Corporate Presentation

African Consolidated Resources plc, the AIM listed resource development company, announces that a new presentation is available for download on the Company's website at www.acrplc.com.

The presentation serves as an introduction to the new CEO, Craig Hutton, and focuses on the strategy and direction that he has set for the Company.  The presentation also presents an update on the Company's progress to date at its flagship project Pickstone Peerless gold mine.  Trial mining is well underway as is progress on a Definitive Feasibility Study on a 20,000 tonne per month open pit operation which is expected to be completed by the end of June 2013 plus a two month time contingency.  A Prefeasibility Study is also underway on a 50,000 tonne per month open pit operation together with an underground mining concept study which is expected to be completed in Q3 2013.

The presentation includes an indicative time table of activities as well as the anticipated capital cost associated with the mine build.

The projected direct CAPEX to commissioning of the 20,000 tonne per month operation amounts to approximately $17 million.  Sources of funding to minimise any recourse to shareholders are likely, in addition to the Company's current cash resources, to include Department of Trade and Industry project grant from South Africa, sale of the Harare office, cash flow from the trial mining, potential sale of tailings, forward sale agreements and/or debt finance.  Cash resource at 31 March 2013 was $11 million.

**ENDS**

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

Roy Tucker     African Consolidated Resources plc   [phone]

[phone]

Craig Hutton     African Consolidated Resources plc   [phone]

Andrew Godber   Panmure Gordon (UK) Limited     [phone]

Callum Stewart     Panmure Gordon (UK) Limited     [phone]

Adam James     Panmure Gordon (UK) Limited     [phone]

Susie Geliher     St Brides Media & Finance Ltd     [phone]

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Source: African Consolidated Resources Plc via Thomson Reuters ONE

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