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”)

DIRECTORS’ DEALINGS IN SECURITIES

The Company was notified on 27 September 2016 of the following dealings in respect of the Company’s ordinary shares:

Name of director:	Cobus Loots
Title held at the Company:	Chief executive officer
Date of transaction:	27 September 2016
Nature of transaction:	Purchase of shares
Class of security:	Ordinary shares
Number of ordinary shares:	248,609
Price per ordinary share:	ZAR3.60
Value of transaction:	ZAR894,992.40
Nature of interest of executive:	Beneficial
On-market or off-market:	On-market
Clearance given in terms of Paragraph 3.66:	Yes
Holding following transaction:	480,184

Name of director:	Deon Louw
Title held at the Company:	Finance director
Date of transaction:	27 September 2016
Nature of transaction:	Purchase of shares
Class of security:	Ordinary shares
Number of ordinary shares:	137,450
Price per ordinary share:	Various different trades with the following price information:
Value of transaction:	ZAR500,649.64
Nature of interest of executive:	Beneficial
On-market or off-market:	On-market
Clearance given in terms of Paragraph 3.66:	Yes
Holding following transaction:	137,450

Johannesburg
28 September 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: [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

Jeffrey Couch/Neil Haycock/Thomas Rider
BMO Capital Markets Limited
Joint Broker
Office: [phone]

http://www.panafricanresources.com/