PAN - Pan African Resources plc - Further cautionary announcement

PAN - Pan African Resources plc - Further cautionary announcement               
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`)                                                
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcement dated Thursday, 17 November 2011,        
shareholders are advised that negotiations are still in progress, which if      
successfully concluded may have a material effect on the price of the securities
of the company.  Accordingly, shareholders are advised to exercise caution when 
dealing in the company`s securities, until a full announcement has been made.   
Rosebank                                                                        
29 December 2011                                                                
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 7029 7881                     


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                                                              
+27 (0) 11 583 2000                    Gable Communications                     
                                      Justine James                             
                                      +44 (0) 20 7193 7463                      
+44 7525 324431                           

                                                                                
For further information on Pan African, please visit the website at             
www.panafricanresources.com                                                     
Date: 29/12/2011 09:00:01 Supplied by www.sharenet.co.za                     
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