TIDMAFCR 
 
African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining 
                                  11 July 2012 
          African Consolidated Resources plc ('ACR' or the 'Company') 
 
          Significant JORC-compliant Resource Announcement Anticipated 
                       in Zimbabwean Midland Gold Fields 
 
ACR,  the  AIM  listed  southern  African focussed resource development company, 
announces that initial results from work relating to an impending JORC-compliant 
upgrade  on the Pickstone-Peerless Gold Project have demonstrated the likelihood 
of  a significantly  higher resource  announcement than  previously anticipated. 
 The  results are likely to offer better-than-expected improvements on both past 
Resource  Statements and  on earlier  predictions with  respect to  total ounce- 
quantum,  to JORC category  and to average  grade.  The Board  expects that this 
will provide the Company with a considerable upgrade to its current global JORC- 
compliant Resource of 1.54 million ounces ('oz') of gold ('Au'). 
 
This  notification is being made in  accordance with AIM Rule 11, which requires 
price  sensitive information to  be notified without  delay.  A resource update, 
estimated  and tabulated in accordance with  the JORC standard, will be notified 
as  soon as  is practicable  but such  announcement is  expected to  be within a 
period of no more than 2 months. 
 
Additional Background 
 
Pickstone-Peerless Project 
  * This  project consists of  two distinct ore  bodies, the "Pickstone" and the 
    "Peerless".   Both ore-bodies are expected to contribute to the greater than 
    expected increase in resource. 
 
Pickstone 
  * Current Pickstone body sits atop a historically producing ore body closed by 
    Rio  Tinto in the early 1970s due to political and economic circumstances of 
    the  time.  From ACR work post AIM IPO in 2006, the ore-body currently has a 
    declared  JORC-compliant  Resource  of  240,000oz Au  calculated on ore from 
    surface to a depth of 150m. 
  * Additional  work  including  the  complete  digitisation  of Rio Tinto's old 
    underground  mining and sampling,  drilling and assay  records dating to the 
    1960s and  1970s has provided a  detailed insight to  the extent and type of 
    mineralisation  present.  The findings have surpassed existing knowledge and 
    expectations. 
  * This work is expected to enable Resource calculation to 750m from surface as 
    well  as provide a measurable enhancement of certainty on resource grade and 
    extent.  The ore body is open-ended at depth below 750m. 
 
 
Peerless 
 
  * The  currently  declared  JORC-compliant  Resource  on the Peerless trend is 
    210,000oz Au  which comprises  ore from  surface to  varying depths  down to 
    120m. 
  * Previously  announced drilling on the Peerless ore-body, including Hole PEDD 
    5, which averaged 4.7g/t Au over 200m depth, were conducted within the plane 
    of  the vein. These have not yet  been included in resource calculations but 
    provide good confidence in vertical continuity of lodes and average grade as 
    well as offering encouraging metallurgical test results. 
  * Historical  Rio Tinto holes of 350m depth as well as underground development 
    sampling  / assaying records are now being combined with the recent drilling 
    to improve both JORC-category and quantum upgrades on the Peerless Resource, 
    as well as a possible average grade improvements. 
 
Gadzema Gold Project 
  * Gadzema  is considered a bulk-mining  opportunity with its lower-grade tenor 
    offset by attractive bulk economics (the sub-vertical ore body is frequently 
    in excess of 400m widths and has a potential strike length of more than 5km 
    - almost entirely under ACR tenure). 
  * The  stated Gadzema Resource currently stands at over 1 million oz @ 1.2g/t 
    Au  to a depth of  110m with a drilled-out strike  portion of 1.8km to date. 
     It remains open in width, open in depth and open in strike extension. 
  * A  modest Resource upgrade  at Gadzema is  anticipated from a previously un- 
    quantified, but relatively small extension of past work programmes. 
 
Roy  Tucker,  Executive  Chairman  of  ACR,  said    "The scope and scale of our 
Zimbabwean  Midlands gold projects continues to impress and matches our internal 
optimism.   Notably,  the  Pickstone-Peerless  Project  and  the Gadzema Project 
(within 15 miles of each other) are now each significant gold resources in their 
own right.  Pickstone-Peerless, as a previously producing asset, can most likely 
be  brought back into substantial commercial production relatively quickly. Upon 
completion  of the imminent  JORC-Resource upgrade, we  will evaluate an optimal 
route  towards production and envisage commissioning a full bankable feasibility 
study.   In the nearer term we have, subject to funding, the ability to commence 
generation  of revenues from open-pit mining  of the oxide and transitional ores 
at  the  Peerless  and,  possibly  in  parallel,  from  the high-grade Pickstone 
sulphide  dump.  Such operations would offer ACR  a rapid and low-capex means of 
generating cashflow for future project development. 
 
"With  an existing global resource inventory of over 1.5 million ounces, soon to 
be  followed by  the expected  upgrade, ACR  continues to  add value  across its 
portfolio  of assets.  The Company intends to fast-track development in order to 
maximise  the  value  at  these  promising gold properties, thereby establishing 
itself as a commercial gold producer and developer." 
 
This  announcement  has  been  reviewed  by  Mike  Kellow  BSc,  a member of the 
Australian  Institute of  Geologists and  Technical Director  of ACR.  Mr Kellow 
meets  the definition  of a  "qualified person"  as defined  in the AIM Note for 
Mining, Oil and Gas Companies. 
 
                                    **ENDS** 
 
For further information visit www.acrplc.com or please contact: 
 
 Roy Tucker         African Consolidated Resources plc   +44 (0) 1622 816918 
                                                         +44 (0) 7920 189012 
 
 
 Andrew Cranswick   African Consolidated Resources plc   +44 (0) 7920 189010 
 
 
 Andrew Godber      Panmure Gordon (UK) Limited          +44 (0) 20 7459 3600 
 
 
 Callum Stewart     Panmure Gordon (UK) Limited          +44 (0) 20 7459 3600 
 
 
 Susie Geliher      St Brides Media & Finance Limited    +44 (0) 20 7236 1177 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: African Consolidated Resources Plc via Thomson Reuters ONE 
[HUG#1625779]
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