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 The company was notified on 26 February 2014 of the following dealings inrespect of the company's ordinary shares: Name of director/executive: A van den Bergh (Executive: Human Resources) Nature of transactions: Sale of shares by A van den Bergh Date of transactions: 1) 24-February 2014 2) 25 February 2014 Class of security: Ordinary shares Number of ordinary shares: 1) 564,975 2) 297,925 Price per ordinary share: 1) ZAR 2.79 2) ZAR 2.62 Value of transactions: 1) ZAR 1 576 280.25 2) ZAR 780 563.50 Nature of interest of executive: Beneficial On-market or off-market: On-market Clearance given in terms of Paragraph Yes3.66: Holding following transactions: Nil Name of director/executive: C Strydom (Director: Barberton Mines) Nature of transaction: Sale of shares by C Strydom Date of transaction: 24 February 2014 Class of security: Ordinary shares Number of ordinary shares: 4 539 Price per ordinary share: ZAR 2.8000 Value of transaction: ZAR 12 709 Nature of interest of executive: Beneficial On-market or off-market: On-market Clearance given in terms of Paragraph Yes3.66: Holding following transaction: 570 461 representing 0.03% of the current issued share capital 26 February 2014 JSE SponsorOne Capital PAN AFRICAN ENQUIRIESSouth Africa UK Pan African Resources Canaccord Genuity LimitedMr Ron Holding Nomad and Joint BrokerChief Executive Officer Neil Elliott/ Peter Stewart / Joe Weaving+27 (0) 11 243 2900 +44 (0) 20 7523 8350 Vestor Investor Relations finnCap LimitedLouise Brugman Joint Broker+27 (0) 11 787 3015 Elizabeth Johnson / Joanna Weaving+27 83 504 1186 +44 (0) 20 7220 0500 One Capital St James's Corporate Services LimitedLiezl Gildenhuys Phil Dexter+27 (0) 11 550 5000 +44 (0) 20 7796 8647 Gable Communications Justine James +44 (0) 20 7193 7463 / +44 (0) 7525 324431 For further information on Pan African, please visit the website atwww.panafricanresources.com