Further re Conditional acquisition of 25% stake...

30 April 2010

                           Pan African Resources PLC                           

                (`Pan African' 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                               

   Date extended for Pan African to complete due diligence investigations in   
 respect of its conditional acquisition of a 25% stake in the RK1 Consortium,  
                    and renewal of cautionary announcement                     

Shareholders are referred to the announcement released on Wednesday, 31 March
2010 in which Pan African advised that it had signed a conditional Sale and
Purchase Agreement to acquire a 25% interest in the RK1 Consortium (`RK1') (the
`Transaction'). RK1 owns a Chromite Tailings Retreatment Plant ('CTRP')
situated at Kroondal on the Western Limb of the Bushveld Complex in the North
West Province of South Africa, which produces Platinum Group Metals (`PGM')
concentrate. The Transaction, if completed, is expected to provide Pan African
with access to low cost attributable PGM ounces and further strengthen the
Company's earnings and operating cash flows.

The Transaction is subject to, inter alia, the successful completion of a
technical and financial due diligence investigation (`Due Diligence') by Pan
African, which was anticipated to have been completed by the Company by the end
of April 2010. Shareholders are advised that the parties to the Sale and
Purchase Agreement have agreed to extend the period for the completion of the
Due Diligence to Monday, 17 May 2010.

Renewal of Cautionary announcement

Shareholders are referred to the cautionary announcement released on Wednesday,
31 March 2010, and are advised that the pro forma financial effects of the
Transaction are still being determined and may have a material effect on the
price of the securities of the Company. Accordingly, shareholders are advised
to continue exercising caution when dealing in the securities of the Company
until the pro forma financial effects of the Transaction have been announced on
the JSE Limited Securities Exchange News Service and the London Stock Exchange
Regulatory News Service.

                                     ENDS                                      

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

Enquiries:                                                                     
                                                                               
Pan African Resources                                                          
                                                                               
Jan Nelson, Chief Executive Officer                                            
                                                                               
[phone]                                                            
                                                                               
Nicole Spruijt, Public Relations                                               
                                                                               
[phone]                                                            
                                                                               
RBC Capital Markets                                                            
                                                                               
Martin Eales / Brett Jacobs                                                    
                                                                               
[phone]                                                           
                                                                               
Macquarie First South Advisers (Pty) Limited                                   
                                                                               
Melanie de Nysschen / Thembeka Mgoduso                                         
                                                                               
[phone]                                                            
                                                                               
St James's Corporate Services Limited                                          
                                                                               
Phil Dexter                                                                    
                                                                               
[phone]                                                           
                                                                               
Nedbank Capital - Transaction Advisers                                         
                                                                               
Jan Geenen                                                                     
                                                                               
[phone]