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 4 December 2015 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, Evander Gold Mining Pty Ltd and alternate director on Barberton Mines 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:	4 December 2015
Nature of transaction:	Purchase of shares by the Trust
Class of security:	Ordinary shares
Number of ordinary shares:	100,000
Price per ordinary share:	ZAR1.50
Value of transaction:	ZAR150,000
Nature of interest of executive:	Indirect beneficial
On-market or off-market:	On-market
Clearance given in terms of Paragraph 3.66:	Yes

Johannesburg
4 December 2015

JSE Sponsor
One Capital

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 / James Black
St James's Corporate Services Limited	Numis Securities Limited
Company Secretary	Nominated Adviser & Joint Broker
Office: + 44 (0)207 796 8644	Office: [phone]
Sholto Simpson	Matthew Armitt / Ross Allister
One Capital	Peel Hunt LLP
JSE Sponsor	Joint Broker
Office: + 27 (0)11 550 5009	Office: [phone]
Julian Gwillim	Daniel Thöle
Aprio Strategic Communications	Bell Pottinger PR
Public & Investor Relations SA	Public & Investor Relations UK
Office: [phone]	Office: + 44 (0)203 772 2500

www.panafricanresources.com