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PAN - Pan African Resources Plc - Director`s Dealings 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`) DIRECTOR`S DEALINGS Pan African announces that on 6 October 2010, Mr Jan Nelson, the Company`s Chief Executive Officer, was issued with 6,000,000 ordinary shares of 1p each ("Shares") at a price of 2p per share, for a total consideration of GBP120,000, following the exercise of share options ("Exercise"). Application will be made today, 14 October 2010, to the AIM market of the London Stock Exchange ("AIM") and to the Main Board of JSE Limited ("JSE") for 6,000,000 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 20 October 2010. To assist with the payment of tax arising on the disposal and the cost of exercise, Mr Nelson on 12 October 2010 sold 2,500,000 Pan African shares on market at an average price of 8.75p per share for a total consideration of GBP218,750 ("Disposal"). The Exercise and Disposal was made under clearance given by a special resolution of the board of directors of Pan African. Following the Exercise and the Disposal, Mr Nelson holds 3,622,442 shares in the Company, representing 0.26% of the total issued share capital of 1,419,540,711 shares. For further information on Pan African Resources, please visit the website at www.panafricanresources.com Rosebank 14 October 2010 JSE Sponsor MACQUARIE FIRST SOUTH ADVISERS (PTY) LIMITED Enquiries South Africa UK Pan African RBC Capital Markets Jan Nelson, Chief Executive Officer Martin Eales / Brett Jacobs +27 (0) 11 243 2900 +44 (0) 20 7653 4000 Macquarie First South Advisers (Pty) St James`s Corporate Services Limited Limited Melanie de Nysschen / Yvette Labuschagne Phil Dexter +27 (0) 11 583 2000 +44 (0) 20 7499 3916
Hansard Communications Justine James +44 (0) 20 7245 1100 / +44 (0) 7525 324431
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