African Energy Resources (Guernsey) (AFR)

Shares / Stock Code

AFR

Stock Exchange / Sharemarket

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African Energy Resources (Guernsey) (AFR) is an Australia-based mineral exploration company engaged in identifying and developing uranium resources in Africa. The Company was established in July 2005 and it has a portfolio of uranium projects within a uranium province in southern Africa. The Company was listed on the Australian Stock Exchange April 18, 2007. The Company has established its representative office and technical support base in Cape Town, South Africa, and a logistics support base in Lusaka, Zambia as currently it has projects in Zambia, Botswana, Zimbabwe and Malawi, which covers ground considered prospective for uranium, coal and coal-bed methane. The Company possesses some of the tenements, while the others are held under joint venture agreements with Albidon Limited (Albidon).

During the year ended December 31, 2006 the Company discovered initial resources of 2,200 tonnes uranium oxide (U3O8) at the Njame North Prospect in southern Zambia during its first phase of drilling. The Company entered into an agreement to acquire a 100% interest in African Energy Resources Pty Ltd (African Energy (Australia)) from Energy Ventures Limited on November 13, 2006.

The Company has a highly experienced team of management and Board of Directors having the extensive experience of working in successful exploration projects and mining developments in Zambia, as well as large scale uranium mining operations in Australia.