PAN AFRICAN RESOURCES PLC - Directors dealings in securities

Director’s dealings in securities

Pan African Resources PLC
(Incorporated and registered in England and Wales under Companies Act 1985 with registered
number 3937466 on 25 February 2000)
AIM Code: PAF
JSE Code: PAN
ISIN: GB0004300496
("Pan African" or the “Company”)

DIRECTOR’S DEALINGS IN SECURITIES


DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

1.       Details of the person discharging managerial
         responsibilities/person closely associated

a)       Name:                                                 Bertin McLeod

2.       Reason for the notification

a)       Position/status:                                      Head of Phoenix Platinum Mining
                                                               Proprietary Limited (“Phoenix
                                                               Platinum”)

b)       Initial notification/Amendment:                       Initial notification

3.       Details of the issuer, emission allowance market
         participant, auction platform, auctioneer or
         auction monitor

a)       Company name:                                         Phoenix Platinum, a subsidiary of
                                                               Pan African

b)       LEI:                                                  Not applicable

4.       Details of the transaction(s): section to be
         repeated for (i) each type of instrument; (ii) each
         type of transaction; (iii) each date; and (iv) each
         place where transactions have been conducted

a)       Description of the financial instrument, type of      Ordinary shares of 1p each
         instrument:

                                                               Identification code: GB0004300496

b)       Nature of the transaction:                            Acquisition of ordinary shares

c)       Price(s) and volume(s):
                                                                Price(s)              Volume(s)

                                                                ZAR3.40               24,000

d)       Aggregated information:
                                                                Total                 Volume(s)

                                                                ZAR81,600             24,000

e)       Date of the transaction:                              4 November 2016

f)       Place of the transaction:                             Johannesburg Stock Exchange

Additional information disclosed in accordance with the JSE Listings Requirements:

a)     Nature of interest of executive:                           Beneficial

b)     On-market or off-market:                                   On-market

c)     Clearance given in terms of paragraph 3.66 of the JSE      Yes
       Listings Requirements:

d)     Holding following transactions:                            77,400



Johannesburg

7 November 2016


CONTACT INFORMATION

Corporate Office
The Firs Office Building
1st Floor, Office 101
Cnr. Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa
Office: + 27 (0) 11 243 2900
Facsimile: + 27 (0) 11 880 1240

Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom
Office: + 44 (0) 207 796 8644
Facsimile: + 44 (0) 207 796 8645

Cobus Loots                               Deon Louw
Pan African Resources PLC                 Pan African Resources PLC
Chief Executive Officer                   Financial Director
Office: + 27 (0) 11 243 2900              Office: + 27 (0) 11 243 2900

Phil Dexter                               John Prior / Paul Gillam
St James's Corporate Services Limited     Numis Securities Limited
Company Secretary                         Nominated Adviser and Joint Broker
Office: + 44 (0) 207 796 8644             Office: +44 (0) 20 7260 1000

Sholto Simpson                            Matthew Armitt / Ross Allister
One Capital                               Peel Hunt LLP
JSE Sponsor                               Joint Broker
Office: + 27 (0) 11 550 5009              Office: +44 (0) 207 418 8900

Julian Gwillim                            Daniel Thöle
Aprio Strategic Communications            Bell Pottinger PR
Public & Investor Relations SA            Public & Investor Relations UK
Office: +27 (0)11 880 0037                Office: + 44 (0) 203 772 2500

Jeffrey Couch/Neil Haycock/Thomas Rider
BMO Capital Markets Limited
Joint Broker
Office: +44 (0) 207 236 1010

www.panafricanresources.com

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