PAN - Pan African Resources PLC - Exercise of options

PAN - Pan African Resources PLC - Exercise of options                           
Pan African Resources PLC                                                       
(`Pan African` or the `Company`)                                                
Incorporated and registered in England and Wales under Companies Act 1985 with  
registered number 3937466 on 25 February 2000                                   
AIM: PAF/JSE: PAN                                                               
ISIN: GB0004300496                                                              
3 April 2012                                                                    
EXERCISE OF OPTIONS                                                             
Pan African announces that the following issue of Pan African ordinary shares of
1p each ("Shares") has been made, following the exercise of share options       
granted under the Company`s share option plan:                                  
*    500,000 Shares were issued at a price of 7.0 pence per Share, for a total  
    consideration of GBP35,000.00.                                              
Application will be made today, to the AIM market of the London Stock Exchange  
("AIM") and to the Main Board of JSE Limited ("JSE") for 500,000 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 Tuesday 10 April 2012.         
Following the above issues of shares, the total issued share capital of the     
Company comprises 1,445,464,361 Shares.                                         
Enquiries                                                                       
South Africa                    UK                                              
Pan African Resources           RBC Capital Markets                             
Jan Nelson, Chief Executive     Martin Eales / James Kelly                      
Officer                         +44 (0) 20 7029 7881                            
+27 (0) 11 243 2900                                                             
One Capital                     St James`s Corporate Services Limited           
Sholto Simpson / Megan Young /  Phil Dexter                                     
Nicholas Tyler                  +44 (0) 20 7499 3916                            
+27 (0) 11 550 5000                                                             
Vestor Investor Relations       Gable Communications                            
Louise Brugman                  Justine James                                   
+27 (0) 11 787 3015             +44 (0) 20 7193 7463                            
Date: 03/04/2012 08:00:03 Supplied by www.sharenet.co.za                     
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