Private Placing

Pan African Resources PLC 22 December 2005 22 December 2005 Pan African Resources plc ('Pan African Resources', 'The Company') Fundraising: GBP 210,000 private placing Pan African Resources PLC (AIM: PAF) the African based gold exploration company announces that it has raised GBP 210,000 by way of private placing of 7million new ordinary 1p shares at 3p (pence) per share to institutional and professional investors. The capital raised will be utilised to progress the Company's exploration activities in the Central African Republic. Application will be made for the new shares to be admitted for trading on AIM and it is anticipated that they will be admitted on 6th January 2006. Ends Pan African Resources Ambrian Partners Parkgreen Communications Jan Nelson, CEO Richard Brown / Justine Howarth / +27 11 886 1211 Emma Priestley Victoria Thomas Colin Bird, Chairman +44 (0) 207 776 6400 +44 (0) 20 7493 3713 +44 (0) 20 7584 2155 This information is provided by RNS The company news service from the London Stock Exchange