PAN - Pan African Resources plc - First Platinum Production at Phoenix and

PAN - Pan African Resources plc - First Platinum Production at Phoenix and      
sale of PGM concentrate agreement signed with Lonmin`s Western Platinum         
Limited                                                                         
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`)                                                
First Platinum Production at Phoenix and sale of PGM concentrate agreement      
signed with Lonmin`s Western Platinum Limited                                   
Pan African, the African focused precious metals producer, is pleased to        
announce it has successfully commissioned the Phoenix platinum project          
(`Phoenix`) Chrome Tailings Retreatment Plant (`CTRP`) and signed a sale of     
Platinum Group Metal (`PGM`) concentrate agreement with Lonmin plc`s            
operating subsidiary in South Africa, Western Platinum Limited (`WPL`).         
Summary                                                                         
    -    Phoenix has concluded a sale of PGM concentrate agreement with WPL     
for a five year period                                                 
    -    The CTRP produced its first PGM concentrate two months ahead of        
         schedule                                                               
    -    Planned production for Q3/Q4 (FYE 30 June 2012), taking into           
consideration a build-up phase, is estimated to be 4,500 ounces of     
         PGM`s                                                                  
    -    Planned production on an annualised basis is estimated to be 12,200    
         ounces of PGM`s (240,000 tonnes per annum at an average feed grade     
of 3.15 g/t)                                                           
    -    The CTRP has a project life of 17 years                                
Jan Nelson, Chief Executive Officer of Pan African commented; "We are           
extremely pleased to announce the production of first concentrate from          
Phoenix, two months ahead of schedule.  Being our first major capital project   
it was imperative that we achieved our milestones on schedule and budget, a     
testament to the effort of the team and I would like to thank them.  The        
conclusion of the five year sale of PGM concentrate agreement with WPL and      
the early production of PGM concentrates, will provide the Company with a       
platinum revenue stream commencing towards the end of the third quarter of      
this financial year. We have now completed our transition into a producer of    
both gold and platinum group metals                                             
Rosebank                                                                        
29 November 2010                                                                
JSE Sponsor                                                                     
Macquarie First South Capital (Pty) Limited                                     
Enquiries                                                                       
South Africa                         UK                                         
Pan African Resources                RBC Capital Markets                        
Jan Nelson, Chief Executive Officer  Martin Eales / James Kelly                 
+27 (0) 11 243 2900                  +44 (0) 20 7653 4000                       
                                                                                
Macquarie First South Capital (Pty)  St James`s Corporate Services Limited      
Limited                              Phil Dexter                                
Melanie de Nysschen / Annerie Britz  +44 (0) 20 7499 3916                       
/                                                                               
Yvette Labuschagne                   Gable Communications                       
+27 (0) 11 583 2000                  Justine James                              
+44 (0) 20 7193 7463                        

For further information on Pan African, please visit the website at             
www.panafricanresources.com                                                     
Date: 29/11/2011 09:00:18 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.