Appointment of Financial Director

Pan African Resources PLC ("Pan African" or "the Company" or "the Group") (Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000) Share code on AIM: PAF Share code on JSE: PAN ISIN: GB0004300496 APPOINTMENT OF NEW FINANCIAL DIRECTOR ("FD") Pan African wishes to advise shareholders it will appoint Deon Louw (52) as FDof the Company, to replace Cobus Loots who, as previously announced, willbecome CEO. Both appointments will take effect from 1 March 2015. Mr. Gideon Petrus Louw is a South African qualified chartered accountant and aCFA® charterholder. He also holds a Higher Diploma in Tax Law. Most recentlyMr. Louw was the FD of the JSE-listed mining services group Sentula MiningLimited, a position he held from 2007 to 2014. He was also previously the headof structured resource finance at Investec Bank Limited. Keith Spencer, Chairman of Pan African, commented: "The Board welcomes Deon andwe wish him well in his new role. We are confident that his extensiveexperience in the South African mining sector will add value to the Pan Africanbusiness". For further information on Pan African, please visit the Company's website atwww.panafricanresources.com 20 February 2015 Contact Details Corporate OfficeThe Firs Office Building1st Floor, Office 101Cnr. Cradock and Biermann AvenuesRosebank, JohannesburgSouth AfricaOffice: + 27 (0) 11 243 2900Facsmile: + 27 (0) 11 880 1240 Registered OfficeSuite 31Second Floor107 CheapsideLondonEC2V 6DNUnited KingdomOffice: + 44 (0) 207 796 8644Facsmile: + 44 (0) 207 796 8645 Ron Holding Cobus LootsPan African Resources PLC Pan African Resources PLCChief Executive Officer Financial DirectorOffice: + 27 (0)11 243 2900 Office: + 27 (0) 11 243 2900 Phil Dexter Peter StewartSt James's Corporate Services Limited Canaccord Genuity LimitedCompany Secretary Nominated AdviserOffice: + 44 (0)207 796 8644 Office: +44 (0)207 523 8000 Sholto Simpson Matthew Armitt / Ross AllisterOne Capital Peel Hunt LLPJSE Sponsor Joint BrokerOffice: + 27 (0)11 550 5009 Office: +44 (0)020 7418 8900 Julian Gwillim Daniel ThöleAprio Strategic Communications Bell Pottinger PRPublic & Investor Relations SA Public & Investor Relations UKOffice: +27 (0)11 880 0037 Office: + 44 (0)203 772 2500

www.panafricanresources.com