PAN AFRICAN RESOURCES PLC

Board/Management Information • Feb 5, 2015

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PAN AFRICAN RESOURCES PLC - Statement re Appointment of new CEO

PR Newswire

London, February 5

                       Pan African Resources PLC                ("Pan African" or the "Company" or the "Group")(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             RETIREMENT OF RON HOLDING AND APPOINTMENT OF NEW CEOPan African wishes to advise shareholders that Ron Holding (62) will retire asChief Executive Officer ("CEO") of the Group with effect from 1 March 2015. Hewill be succeeded as CEO by Cobus Loots (37), who is currently the FinanceDirector ("FD") of Pan African.To ensure that Mr. Holding's experience and knowledge is retained by the Group,an exclusive consulting agreement will be concluded with Mr. Holding, effective1 March 2015.  This arrangement will be for a minimum period of one year.Mr. Loots has been a director of Pan African since 2009, and was alsopreviously the Group's joint interim CEO from March 2013 to September 2013.Mr. Loots is a CA(SA) and a CFA ® charterholder.  He completed his articles andwas an audit manager with Deloitte & Touché, after which he was employed inMacquarie Africa's mining corporate finance business. Prior to joining PanAfrican on a permanent basis, Cobus was the managing director of ShandukaResources, where he was directly responsible for the oversight of Shanduka'smining and minerals investment portfolio. During his time at Shanduka, Cobuswas instrumental in executing the Pan African empowerment transaction withShanduka.Messrs Holding and Loots have successfully driven the execution of PanAfrican's strategy over the last few years.The board of Pan African will announce a Group FD appointment, to replace MrLoots, in due course.Keith Spencer, Chairman of Pan African, commented: "The Group and board ofdirectors wish to thank Ron for his dedication during his tenure as CEO, and welook forward to his continued involvement."The appointment of Cobus as CEO secures the long-term stability and continuityof executive management. Cobus is very familiar with our business and thoseissues critical to the success thereof.Pan African will continue delivering value to shareholders and otherstakeholders".For further information on Pan African, please visit the Company's website atwww.panafricanresources.com5 February 2015Contact DetailsCorporate OfficeThe Firs Office Building1st Floor, Office 101Cnr. Cradock and Biermann AvenuesRosebank, JohannesburgSouth AfricaOffice: + 27 (0) 11 243 2900Facsmile: + 27 (0) 11 880 1240Registered OfficeSuite 31Second Floor107 CheapsideLondonEC2V 6DNUnited KingdomOffice: + 44 (0) 207 796 8644Facsmile: + 44 (0) 207 796 8645Ron Holding                                      Cobus LootsPan African Resources PLC                        Pan African Resources PLCChief Executive Officer                          Finance DirectorOffice: + 27 (0)11 243 2900                      Office: + 27 (0) 11 243 2900Phil Dexter                                      Peter StewartSt James's Corporate Services Limited            Canaccord Genuity LimitedCompany Secretary                                Nominated AdviserOffice: + 44 (0)207 796 8644                     Office: +44 (0)207 523 8000Sholto Simpson                                   Matthew Armitt / Ross AllisterOne Capital                                      Peel Hunt LLPJSE Sponsor                                      Joint BrokerOffice: + 27 (0)11 550 5009                      Office: +44 (0)020 7418 8900Julian 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

www.panafricanresources.com