Response to media reports re Navachab Mine disposal

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 AIM: PAF/JSE: PAN ISIN: GB0004300496 RESPONSE TO MEDIA REPORTS REGARDING PAN AFRICAN'S PARTICIPATION IN THE NAVACHABMINE DISPOSAL PROCESS Pan African shareholders ("Shareholders") are advised that certain reports havebeen published in the media regarding Pan African's participation in thedisposal process by AngloGold Ashanti Limited of its Navachab mine. There canbe no certainty that such participation will result in any transaction relatingto Navachab. In light of the above, Shareholders are advised that Pan African is not at astage in any negotiations for any asset or venture which would necessitateexercising caution when trading in the Company's securities. Announcements inthis regard will be published if appropriate. Rosebank 18 October 2013 Sponsor: One Capital Enquiries South Africa UK Pan African Resources Canaccord Genuity Limited - Nomad and Joint BrokerMr Ron Holding Andrew Chubb / Peter Stewart / Joe WeavingChief Executive Officer +44 (0) 20 7523 8350+27 (0) 11 243 2900 Mr Cobus LootsFinance Director+27 (0) 11 305 8900 One Capital finnCap Limited - Joint BrokerSholto Simpson / Liezl Gildenhuys Elizabeth Johnson / Joanna Weaving+27 (0) 11 550 5000 +44 (0) 20 7220 0500 Vestor Investor Relations St James's Corporate Services LimitedLouise Brugman Phil Dexter+27 (0) 11 787 3015 +44 (0) 20 7796 8647+27 83 504 1186 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