Dealings in Securities by Company Secretary of Merafe MERAFE RESOURCES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/003452/06 Share Code: MRF ISIN: ZAE000060000 (“Merafe”) DEALINGS IN SECURITIES BY COMPANY SECRETARY OF MERAFE In compliance with paragraphs 3.63 – 3.66 of the Listings Requirements of the JSE Limited, the following information is provided: Vesting and sale of shares in terms of the Share Incentive Scheme In terms of the Merafe Share Incentive Scheme (“Scheme”), the following grant shares vest and have been sold on 30 September 2014: Name: A Mahendranath Company Secretary as at 30 Designation: September 2014 Transaction date: 30 September 2014 Nature of transaction: Vesting and sale of shares in terms of the Scheme Number of shares vested: 1 086 195 Issued price per share: Nil Sale price per share: R 1,2031 Total value: R 1 301 074.91 Type of trade: Market Class of security: Ordinary shares Extent of Company Secretary’s Direct beneficial interest in the transaction: Clearance has been given. 2 October 2014 Sandton Sponsor Merrill Lynch South Africa Proprietary Limited Kajal Bissessor Chartered Accountant (SA) Finance and Investor Relations Manager Merafe Resources Limited Ph: +2711 783 4780 / +27 83 784 6686 Date: 02/10/2014 09:30:00 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.