PAN AFRICAN RESOURCES PLC - Exercise of options

Exercise of options

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


EXERCISE OF OPTIONS


Pan African announces that the following issue of Pan African ordinary shares of 1p each (“Shares”)
has been made, following the exercise of share options granted in 2007 under the Company’s share
option plan:

•   3,000,000 Shares were issued at a price of 7.0 pence per Share, for a total consideration of
    £210,000.00.

Application will be made today, to the AIM market of the London Stock Exchange (“AIM”) and to the
Main Board of JSE Limited (“JSE”) for 3,000,000 shares to be admitted to trading on AIM and for
listing on the JSE, with admission to trading and listing on both markets expected to occur on
19 November 2012.

Following the above issue of shares, the total issued share capital of the Company comprises
1,451,262,361 Shares.

13 November 2012

Sponsor
One Capital

Enquiries

South Africa                                       UK

Pan African Resources                              Canaccord Genuity Limited – Nomad and Joint Broker
Jan Nelson, Chief Executive Officer                Rob Collins / Sebastian Jones / Joe Weaving
+27 (0) 11 243 2900                                +44 (0) 20 7523 8350

One Capital                                        finnCap Limited – Joint Broker
Sholto Simpson / Megan Young                       Matthew Robinson / Elizabeth Johnson
+27 (0) 11 550 5000                                +44 (0) 20 7220 0500

Vestor Investor Relations                          St James’s Corporate Services Limited
Louise Brugman                                     Phil Dexter
+27 (0) 11 787 3015                                +44 (0) 20 7499 3916

                                                   Gable Communications
                                                   Justine James
                                                   +44 (0) 20 7193 7463 / +44 (0) 7525 324431

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