MRF - Merafe Resources Limited - Changes to the Merafe Resources Executive

MRF - Merafe Resources Limited - Changes to the Merafe Resources Executive      
Management                                                                      
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")                                           
CHANGES TO THE MERAFE RESOURCES EXECUTIVE MANAGEMENT                            
In terms of section 3.59 of the JSE Limited Listings Requirements, notification 
is hereby given that Stuart Elliot will be stepping down as Chief Executive     
Officer (CEO) of Merafe Resources to pursue his personal interests, with effect 
from 31 May 2012.                                                               
Zanele Matlala, the Company`s current Chief Financial Officer (CFO), has been   
appointed CEO with effect from 1 June 2012.  The Company is embarking on a      
recruitment exercise to find a suitable replacement for the CFO position and    
accordingly, an announcement will be made following such appointment.  Until a  
suitable candidate has been appointed, Zanele will also be fulfilling the CFO   
role in an acting capacity.                                                     
Zanele has been with the Company for many years in various capacities including 
that of non-executive director, Chairman of the Audit Committee and CFO and has 
been involved in all aspects of the business.                                   
Chris Molefe, Chairman of Merafe Resources, said "We wish Zanele every success  
in her new role.  We are confident that due to her experience and the experience
of the management team that there will be a smooth transition and the Board is  
confident that the Company under Zanele will achieve its growth strategies."    
The Board of Directors would like to thank Stuart for his positive contribution 
to the company in both his previous roles as CFO and as CEO and wish him well   
for the future.                                                                 
SANDTON                                                                         
29 May 2012                                                                     
Sponsor:                                                                        
Merrill Lynch South Africa Proprietary Limited                                  
Date: 29/05/2012 08:45:01 Supplied by www.sharenet.co.za                     
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