Director/PDMR Shareholding

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")                        

                            DEALINGS IN SECURITIES                             

The company was notified on 9 May 2014 of the following dealings in respect of
the company's ordinary shares:

Name of director/executive:             Neal Reynolds                          
                                                                               
Company of which he is a director:      Director of Emerald Panther Investments
                                        91 Proprietary Ltd, Pan African        
                                        Resources Funding Company Pty Ltd,     
                                        Evander Gold Mines Ltd and Evander Gold
                                        Mining Pty Ltd, major subsidiaries of  
                                        the Company                            
                                                                               
Name of associate of director:          NA Reynolds Family Trust ("Trust") of  
                                        which Neal Reynolds is a trustee and   
                                        beneficiary                            
                                                                               
Date of transaction:                    09 May 2014                            
                                                                               
Nature of transaction:                  Sale of shares by the Trust            
                                                                               
Class of security:                      Ordinary shares                        
                                                                               
Number of ordinary shares:              20,000                                 
                                                                               
Price per ordinary share:               Average of ZAR2.68                     
                                                                               
Value of transaction:                   ZAR53,607.87                           
                                                                               
Nature of interest of executive:        Indirect beneficial                    
                                                                               
On-market or off-market:                On-market                              
                                                                               
Clearance given in terms of Paragraph   Yes                                    
3.66:                                                                          

12 May 2014

JSE Sponsor                                                                    
                                                                               
One Capital                                                                    

PAN AFRICAN ENQUIRIES                UK                                        
                                                                               
South Africa                                                                   
                                                                               
Pan African Resources                Canaccord Genuity Limited                 
                                                                               
Mr Ron Holding                       Nomad and Joint Broker                    
                                                                               
Chief Executive Officer              Neil Elliot/ Peter Stewart / Joe Weaving  
                                                                               
[phone]                  [phone]                      
                                                                               
Vestor Investor Relations            finnCap Limited                           
                                                                               
Louise Brugman                       Joint Broker                              
                                                                               
[phone]                  Elizabeth Johnson / Joanna Weaving        
                                                                               
[phone]                      [phone]                      
                                                                               
One Capital                          St James's Corporate Services Limited     
                                                                               
Kathy Saunders                       Phil Dexter                               
                                                                               
[phone]                  [phone]                      
                                                                               
                                     Gable Communications                      
                                                                               
                                     Justine James                             
                                                                               
                                     [phone] / [phone]

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