Director/PDMR Shareholding

Pan African Resources PLC (Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000) AIM Code: PAF JSE Code: PAN ISIN: GB0004300496 ("Pan African" or the "Company") DEALINGS IN SECURITIES BY A DIRECTOR The Company was notified on 9 March 2015 of the following dealings in respectof the Company's ordinary shares of 1 pence each ("Shares"): Name of director: Thabo Mosololi Company of which he is a director: Pan African Nature of transactions: Purchase Class of securities: Shares On-market or off-market: On-market Nature of interest: Direct Clearance given in terms of Paragraph Yes3.66: Date of transaction 1: 6 March 2015 Number of securities: 2,000 Price per security: ZAR2.04 Value of transaction: ZAR4,080 Date of transaction 2: 9 March 2015 Number of securities: 28,000 Price per security: ZAR2.07 Value of transaction: ZAR57,960 Following this transaction Mr Mosololi's total direct interest in Pan Africanis 30,000 Shares, representing 0.0016% of the issued share capital of theCompany. Cobus Loots Deon Louw Pan African Resources PLC Pan African Resources PLC Chief Executive Officer Financial Director Office: + 27 (0)11 243 2900 Office: + 27 (0)11 243 2900 Phil Dexter Peter Stewart St James's Corporate Services Limited Canaccord Genuity Limited Company Secretary Nominated Adviser Office: + 44 (0)207 796 8644 Office: +44 (0)207 523 8000 Sholto Simpson Matthew Armitt / Ross Allister One Capital Peel Hunt LLP JSE Sponsor Joint Broker Office: + 27 (0)11 550 5009 Office: +44 (0)020 7418 8900 Julian Gwillim Daniel Thöle Aprio Strategic Communications Bell Pottinger PR Public & Investor Relations SA Public & Investor Relations UK Office: +27 (0)11 880 0037 Office: + 44 (0)203 772 2500 For further information on Pan African, please visit the website atwww.panafricanresources.com 10 March 2015

Sponsor: One Capital