Dealings by an Associate of a Non-Executive Dir...

Pan African Resources PLC (`Pan African' or the `Company') Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000 AIM: PAF/JSE: PAN ISIN: GB0004300496 DEALINGS BY AN ASSOCIATE OF A NON-EXECUTIVE DIRECTOR The Company was notified on Tuesday 18 October 2011 that Pangea Exploration (Pty) Ltd ("Pangea"), a private company of which Mr Rob Still is a director, had declared a dividend in specie (the "Dividend") to its shareholders on Saturday, 1 October 2011. Mr Still is also a trustee of the Alexandra Trust a major shareholder of Pangea. The Alexandra Trust received 12,430,900 ordinary shares of 1 pence each in the Company ("Shares") at a price of ZAR1.46 per Share, with a total value of ZAR18,149,114, as a consequence of the Dividend. Following this off-market transaction Mr Still's total direct, beneficial interest in Pan African remains unchanged at 2,000,000 Shares, representing 0.14% of the issued share capital of the Company as well as his total indirect, non-beneficial interest of 16,755,308 Shares representing 1.16% of the issued share capital of the Company. Mr Still did not receive any direct or indirect benefit from this off-market transaction. Johannesburg 20 October 2011 JSE Sponsor MACQUARIE FIRST SOUTH CAPITAL (PTY) LIMITED For further information on Pan African Resources plc, please visit the website at www.panafricanresources.com. Enquiries: Pan African Resources Jan Nelson, Chief Executive Officer +27 (0) 11 243 2900 Nicole Spruijt, Public Relations +27 (0) 11 243 2900 RBC Capital Markets Martin Eales / James Kelly +44 (0) 20 7029 7881 Macquarie First South Capital (Pty) Limited Melanie de Nysschen / Annerie Britz / Yvette Labuschagne +27 (0) 11 583 2000 St James's Corporate Services Limited Phil Dexter +44 (0) 20 7499 3916 Gable Communications Justine James +44 (0)20 7193 7463