MRF - Merafe Resources Limited - Directors share dealings

MRF - Merafe Resources Limited - Directors share dealings                       
MERAFE RESOURCES LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 1987/003452/06                                             
Share Code: MRF                                                                 
ISIN: ZAE000060000                                                              
("Merafe Resources" or "the Company")                                           
DIRECTORS SHARE DEALINGS                                                        
In accordance with the requirements of paragraph 3.63 to 3.74 of the JSE        
Listings Requirements the following information is disclosed:                   
Director                      S P ELLIOT                                        
Nature of transaction         Zero cost collar to expire as scheduled           
                             below                                              
Nature of interest            Direct beneficial                                 
Class of Shares               Merafe Ordinary Shares                            
Date of transaction           15 December 2011                                  
Put Strike price per share    R0.95                                             
Call Strike price per share   R0.98                                             
No. of shares                 3 100 000                                         
Expiry date                   7 May 2012                                        
On/Off Market Trade           On Market Trade                                   
Clearance obtained            Yes                                               
Sandton                                                                         
20 December 2011                                                                
Sponsor:                                                                        
Deutsche Securities SA (Proprietary) Limited                                    
Date: 20/12/2011 12:25:01 Supplied by www.sharenet.co.za                     
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