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)
Share code on AIM: PAF / JSE: PAN
ISIN: GB0004300496
Mozambique Government Awards Mining Licence on Manica Project
Pan African Resources, the African focused precious metals producer, has been
awarded a mining licence on its Manica exploration project ("Manica Project")
by the Mozambican government. The licence, which was converted from a
prospecting licence, grants Pan African the opportunity to move the Manica
Project to development stage.
The pre-feasibility study in respect of the Manica Project relating to mining
the oxide and some of the sulphide bearing mineralised material was completed
on schedule in December 2010. A detailed pre-feasibility study is being
completed on the remainder of the sulphide bearing mineralised material, which
will include a detailed three dimensional underground mine design. This study
is expected to be completed during Q2 of 2011 and results of both studies will
be published towards the beginning of Q3 of 2011.
Jan Nelson, Chief Executive of Pan African commented: "We are pleased to have
been awarded this mining licence on the Manica Project as well as with the
overall progress on the project to date. Once the pre-feasibility study is
completed, we will be in a position to review how we move the project forward."
ENDS
For further information on Pan African Resources plc, please visit the website
at www.panafricanresources.com
South Africa UK
Pan African RBC Capital Markets
Jan Nelson, Chief Executive Officer Martin Eales
+27 (0) 11 243 2900 +44 (0) 20 7653 4000
Pan African St James's Corporate Services
Limited
Nicole Sprujit
Phil Dexter
+27 (0) 11 243 2900
+44 (0) 20 7499 3916
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Annerie Britz
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