Issue of Shares and Total Voting Rights

African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining
                                23 December 2011
          African Consolidated Resources plc ('ACR' or 'the Company')
                                Issue of Shares
                              Total Voting Rights

African  Consolidated  Resources  plc,  the  AIM listed resource and development
company focused in Zimbabwe, has today issued 697,325 Ordinary Shares of 1p each
in  the Company ('Shares') to the vendors of the Company's Giant Mine for a cash
sum of £18,130.  The subscription proceeds have been used to pay a final element
of  the purchase price for the Giant Mine, which was acquired by ACR in 2005 and
now  forms part of the Company's greater Gadzema Gold Project in Zimbabwe.  This
subscription follows an agreement between the two parties for ACR make a payment
to  the vendors following the delineation of  a gold ('Au') resource in the main
dump at the Giant Mine of 10,948 oz.

The  Gadzema Gold Project  has a current  total JORC compliant  gold resource of
over  1 million troy ounces with an upgrade  expected in Q1 2012 and it has been
estimated  that the main dump at the  Giant Mine contains 361,621 tonnes Au at a
grade of 0.84 g/t.  The 10,948 oz Au resource can be classified as an additional
JORC Resource in the Inferred category.

Application  has been made to the AIM  division of the London Stock Exchange for
697,325 Ordinary  Shares to be admitted  to trading ('Admission').  Admission is
expected  to occur at 8:00 am on  [   ] December 2011.  Following Admission, the
total number of voting rights in the Company will be 458,983,776 with each share
carrying the right to one vote.

The  above  figure  may  be  used  by  shareholders  as  the denominator for the
calculations  by which they will determine if  they are required to notify their
interest in, or a change to their interest in ACR under the FSA's Disclosure and
Transparency Rules.

                                    **ENDS**

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


Roy Tucker                         African     Consolidated [phone]
                                   Resources plc            [phone]

Andrew Cranswick                   African     Consolidated [phone]
                                   Resources plc

Andrew Godber                      Panmure    Gordon   (UK) [phone]
                                   Limited

Callum Stewart                     Panmure    Gordon   (UK) [phone]
                                   Limited

Susie Geliher                      St    Brides   Media   & [phone]
                                   Finance Ltd








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Source: African Consolidated Resources Plc via Thomson Reuters ONE

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