PAN AFRICAN RESOURCES PLC - Completion of disposal of interest in Auroch Minerals NL

Completion of disposal of interest in Auroch Minerals NL

Pan African Resources PLC
(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
(“Pan African” or the “Company”)


COMPLETION OF DISPOSAL OF INTEREST IN AUROCH MINERALS NL

Pan African shareholders are referred to the announcements published by the Company on
29 August 2012, 14 December 2012 and 26 November 2013, regarding the disposal by Pan African of
its interests in the Manica gold exploration project (“Manica”) and Auroch Minerals NL (“Auroch”).

Pan African can confirm that the Company has now completed the disposal of its interest in Manica
and Auroch, via a deed of mutual settlement with Auroch (the “Transaction”).?

Auroch has paid Pan African a total amount of AUD850,000 in full and final settlement and to satisfy
all of its outstanding obligations, including AUD350,000 that was paid to Pan African in the last week.

Even though the total settlement amount is less than the AUD2,000,000 settlement amount previously
agreed, the Transaction allowed for earlier payment and provided completion certainty to Pan African.
The conclusion of the Transaction further allows Pan African to focus on its core asset portfolio.



17 November 2014

Pan African Resources Enquiries

 Ron Holding                                Cobus Loots
 Pan African Resources PLC                  Pan African Resources PLC
 Chief Executive Officer                    Financial Director
 Office: + 27 (0) 11 243 2900               Office: + 27 (0) 11 243 2900

 Phil Dexter                                Neil Elliot / Peter Stewart
 St James's Corporate Services              Canaccord Genuity Limited
 Limited
 Company Secretary                          Nominated Adviser and Joint Broker
 Office: + 44 (0)20 7796 8647               Office: +44 (0)207 523 8350

 Matthew Armitt / Ross Allister             Sholto Simpson
 Peel Hunt LLP                              One Capital
 Joint Broker                               JSE Sponsor
 Office: +44 (0)020 741 8900                Office: + 27 (0) 11 550 5009

 Julian Gwillim                             Daniel Thöle
 Aprio Strategic Communications             Bell Pottinger PR
 Public & Investor Relations SA             Public & Investor Relations UK
 Office: +27 (0)11 880 0037                 Office: + 44 (0) 203 772 2500

www.panafricanresources.com

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