Resignation of Non-Executive Director

Pan African Resources PLC ("Pan African" or "the Company") (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 RESIGNATION OF NON-EXECUTIVE DIRECTOR Pan African wishes to advise shareholders that Ms Phuti Mahanyele has notifiedthe Company of her intention to resign as the Company's deputy chairman and asa non-executive director with effect from 30 June 2015. Ms Mahanyele currentlyholds these positions as a representative of the Shanduka Group (Proprietary)Limited ("Shanduka"). Ms Mahanyele's intention to resign her Pan African positions is a directconsequence of her resignation from Shanduka, which was announced today andwill also be effective from 30 June 2015. Keith Spencer, Chairman of Pan African, commented: "The Board thanks Phuti forher valuable contribution to date, and we look forward to working with heruntil the end of her tenure". For further information on Pan African, please visit the Company's website atwww.panafricanresources.com 23 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 Kingdom Office: + 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

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