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Zambezi Resources (ZRL)

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Tuesday 01 May, 2007

Zambezi Resources

Holding in Company

Zambezi Resources Ltd
01 May 2007

1 May 2007

Zambezi Resources Limited (AIM:ZRL)

                       Change in Significant Shareholding

Zambezi Resources Limited ('Zambezi' or the 'Company') received notice on 30
April 2007 from Geologic Resource Partners LLC that it had undertaken the
following transactions:


Date           Nature of transaction          Number of ordinary      Price
                                              shares                  
------------   ----------------------         -------------           ----------
4 April 2007   Private placement                  3,544,500             18p
16 April 2007  Purchase of shares on market       1,000,000             17p
17 April 2007  Purchase of shares on market         125,000             17p
19 April 2007  Purchase of shares on market          50,000             17p
20 April 2007  Purchase of shares on market          50,000             17p
23 April 2007  Purchase of shares on market          50,000             17p
24 April 2007  Purchase of shares on market         225,000             17p

As a consequence Geologic Resource Partners LLC has increased its interest in
the Company to 13,364,500 ordinary shares, representing 8.8% of the issued share
capital.

Downloads available from the Zambezi website at: www.zambeziresources.com

For more information contact:

Julian Ford, Managing Director          Jeremy Wrathall, Non-Executive Director
Zambezi Resources (Australia)           Zambezi Resources (London)
+61 (08) 9216 9000/+61 (0) 418 949 580  Mob: +44 7712 776 100

Fiona Owen                              Laurence Read / Leesa Peters
Grant Thornton Corporate Finance        Conduit PR
+44 20 7383 5100                        +44 20 7429 6666 / +44 7979 955 923




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