Cautionary Announcement

17th Nov 2011 12:00

Pan African Resources plc

(Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000)

Share code on AIM: PAFShare code on JSE: PANISIN: GB0004300496

(`Pan African' or the `company')

CAUTIONARY ANNOUNCEMENT

Shareholders are advised that Pan African has entered into negotiations, which if successfully concluded may have a material effect on the price of the securities of the companies. Accordingly, shareholders are advised to exercise caution when dealing in the Company's securities, until a full announcement has been made.

Rosebank17 November 2010JSE Sponsor

Macquarie First South Capital (Pty) Limited

EnquiriesSouth Africa UK Pan African Resources RBC Capital Markets

Jan Nelson, Chief Executive Officer Martin Eales / James Kelly

+27 (0) 11 243 2900 +44 (0) 20 7029 7881

Macquarie First South Capital (Pty) St James's Corporate Services Limited

Limited Melanie de Nysschen / Annerie Britz / Phil Dexter Yvette Labuschagne +44 (0) 20 7499 3916 +27 (0) 11 583 2000 Gable Communications Justine James +44 (0) 20 7193 7463

For further information on Pan African, please visit the website at www.panafricanresources.com

XLON

---

Related Shares:

Pan African Resources