PAN AFRICAN RESOURCES PLC - Update on environmental permitting for the Elikhulu Tailings Retreatment Project

Update on environmental permitting for the Elikhulu Tailings Retreatment Project

Pan African Resources PLC
(“Pan African Resources” or “the Company” or “the Group”)
(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

UPDATE ON ENVIRONMENTAL PERMITTING FOR THE ELIKHULU TAILINGS RETREATMENT PROJECT
(“ELIKHULU”)

Pan African Resources is pleased to advise that the Integrated Water Use Licence
for Elikhulu has been granted by the Department of Water and Sanitation, for a
period of 20 years. Furthermore, the Integrated Environmental Authorisation has
also been issued in terms of the National Environmental Management Act 107 of
1998. All environmental regulatory permits are therefore in place to commence
construction of Elikhulu.

Cobus Loots, Chief executive officer commented, “The granting of the
environmental permitting for Elikhulu is the final regulatory approval required
for the construction of Elikhulu. Elikhulu is scheduled to produce first gold
in the final quarter of the 2018 calendar year and expected to produce
approximately 50,000 ounces per annum for the next 13 years, at an all-in
sustaining cost of less than US$550/oz.

Elikhulu’s capital expenditure of approximately R1.7 billion (approximately
US$130 million) is a substantial investment in the South African mining industry
and is expected to contribute materially to economic development and employment
in the Mpumalanga province.”

For further information on Pan African Resources, please visit the Company’s
website at www.panafricanresources.com

25 August 2017


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) 20 7796 8644
Facsimile: + 44 (0) 20 7796 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) 20 7796 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) 20 7418 8900

Julian Gwillim                          Jeffrey Couch/Neil Haycock/Thomas Rider
Aprio Strategic Communications          BMO Capital Markets Limited
Public & Investor Relations SA          Joint Broker
Office: +27 (0)11 880 0037              Office: +44 (0) 20 7236 1010

Bobby Morse/Chris Judd
Buchanan Communications
Public & Investor Relations UK
Office: +44 (0) 207 466 5000


www.panafricanresources.com

Date: 25/08/2017 09:15:00 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.