African Energy Resources Limited is involved with three major coal projects in Botswana. The Company's major asset is the Sese JV Project in which AFR owns a 35% stake, with the balance owned by First Quantum Minerals Ltd. (FQM). AFR continues to assist FQM, the manager of the Sese JV, with a number of commercial and permitting activities related to the development of the project as an exporter of power to FQM's Zambian copper operations. The Sese coal resource estimate has been updated to accommodate the final program of infill drilling to 350m average spacing within the proposed mining area in BlockC (Diagram 2 and 3). This resource estimate has been prepared to the standard required under JORC (2012 edition) and NI43101. The updated resource estimate for Sese is based on data collected from 469 drill holes totaling 33,991m, of which 309 holes were core holes. Within this overall resource, the Measured Resource within the Mining Licence contains coal in the proposed mining area. The main SS Seam within this portion of the resource comprises the best combination of coal quality and strip ratio in the project, providing the lowest cost per GJ of contained energy, and thus the lowest cost fuel for use in a power station.