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African Consolidated Resources Plc : Board Changes and Director Dealings

   African Consolidated Resources Plc : Board Changes and Director Dealings

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

18 January 2013

         African Consolidated Resources plc ('ACR' or 'the Company')
                     Board Changes and Director Dealings

African Consolidated Resources  plc, the AIM  listed resource and  development 
company  focused  in  Southern  Africa,  is  pleased  to  announce  the  board 
appointment of  Mr. Craig  Hutton as  Chief Executive  Officer with  immediate 
effect. Mr. Hutton replaces Mr.  Andrew Cranswick as Chief Executive  Officer 
of the Company, who is stepping down from his position in order to concentrate
on his other business interests. Mr. Julian Emery, Non-executive Director, has
also resigned  from  the  Board of  ACR  in  order to  pursue  other  business 
interests, effective immediately.

Craig Hutton, who holds an MBA from Henley Business School (UK) and a Bachelor
of Commerce  and  Higher Diploma  in  Economic  Geology, has  over  25  years' 
experience in the mining sector  having worked for major production  companies 
such as Anglo American PLC, Placer Dome Inc. and Harmony Gold Mining  Company. 
During his career Mr. Hutton has  developed skills sets in geology,  resource 
management and evaluation, financial valuation, project assessment,  financial 
management, project fund sourcing and management. 

Mr. Hutton began his  mining career with  Anglo American PLC  in 1988 and  was 
posted to the Free State Geduld Gold Mine in South Africa. During the  course 
of his career he  has held numerous senior  positions in geology, finance  and 
mineral economics.  Key highlights  include his  appointment as  a  sectional 
geologist at Harmony Gold Mine in 1994, progressing to become project  finance 
manager in  1997  and ore  resource  manager  in 1999,  before  joining  Anglo 
American PLC as a mineral economist in 2006. Mr. Hutton became an independent
consultant in 2008  and subsequently advised  Anglo American PLC,  TransAfrika 
Resources and Pan African Resources plc, playing a key role in the  divestment 
of Pan African Resources plc's Manica asset, which was successfully listed  on 
the Australian stock exchange in 2012.

Mr. Hutton worked as a consultant for ACR in 2012 and was instrumental in  the 
declaration of the major resource upgrade to 3.2 million ounces of gold at the
Pickstone-Peerless  Gold  Project  in   Zimbabwe.  He  was  responsible   for 
identifying the open pit  target which consists  of 1.5 million  open-pittable 
ounces at 2.0g/t Au in addition to  the underground potential of in excess  of 
1.7 million ounces at  4.0g/t Au. Mr. Hutton  was also closely involved  with 
the development of the Preliminary Economic Assessment that was announced on 4
December 2012.

ACR Chairman, Roy  Tucker, said,  "I would like  to take  this opportunity  to 
thank Andrew for  his enormous  input into the  development of  ACR since  its 
inception and listing  in 2006.  Andrew has  been hugely  influential in  the 
growth of ACR's portfolio,  and the identification  of highly valuable  assets 
such as the Pickstone-Peerless Gold Project, the Gadzema Gold Project and  the 
Kasempa Copper Project. On behalf of the  Board, I would like to wish  Andrew 
well in  his  future  endeavours,  and look  forward  to  continuing  a  close 
relationship as we move ACR into its  next phase of growth. I would also  like 
to thank Julian for his contribution to the Company.

I welcome Craig to Board of ACR and look forward to his valuable contributions
to the Company.

Director Dealings

Pursuant to Mr. Hutton's appointment  as Chief Executive Officer, the  Company 
has awarded, on 18 January 2013, the following options and conditional options
over ordinary shares of 1p each in  the capital of the Company ("Options")  to 
Mr. Hutton:

  *2,000,000 Options, exercisable at any time until 31 December 2015;

  *3,000,000 Options, exercisable at any time after 31 December 2013 until 31
    December 2015, conditional upon his continued employment as a Director  of 
    the Company to 31 December 2013; and

  *3,000,000 Options, exercisable at any  time following the commencement  of 
    pouring gold from either  the Pickstone or  Peerless site and  conditional 
    upon his continued employment as a  Director of the Company at that  time. 
    

The above Options all have an exercise price of 5p each and no Option shall in
any event be exercisable on or after 31 December 2015 under any  circumstances 
whatsoever.

Regulatory Information

Craig Michael Hutton, aged 44, currently holds the following directorships and
membership:

Brenthurst Capital Resources BG2
Smart Business Strategies Pty Ltd
High Rise Living CC

Craig Hutton was found negligent in  relation to payment of child  maintenance 
costs in 2009 by the South African  criminal court and ordered to pay cost  of 
ZAR35,000 pursuant to  Section 31(1) of  the Maintenance Act  99 of 1998.  The 
matter is currently  subject to an  appeal matter  to the High  Court in  Cape 
Town, South Africa. Craig  Hutton has been advised  by his advocate that  the 
magistrate has erred in law in making her decision and there is every prospect
of success on appeal.

Craig Hutton currently holds 1,900,000 ordinary shares in African Consolidated
Resources plc.

There are no  other matters  which are required  to be  announced as  required 
under paragraph (g) of Schedule 2 of the AIM Rules.

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

Roy Tucker            African Consolidated Resources +44  (0)   1622 
                              plc                            816918

                                                               +44  (0)   7920 
                                                               189012
Andrew Godber                   Panmure Gordon (UK) Limited    +44 (0) 207 886
                                                               2500
Callum Stewart                  Panmure Gordon (UK) Limited    +44 (0) 207 886
                                                               2500
Susie Geliher                   St Brides Media & Finance Ltd  +44 (0) 20 7236
                                                               1177

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Source: African Consolidated Resources Plc via Thomson Reuters ONE
HUG#1671587
 
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