Holding(s) in Company

For filings with the FCA include the annex                                                                        
                                                                                                                  
For filings with issuer exclude the annex                                                                         
                                                                                                                  
                                                                                                                  
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                                                                   
                                                                                                                  
                                                                                                                  
1. Identity of the issuer or the underlying issuer                                                                
of existing shares to which voting rights are                     PAN AFRICAN RESOURCES PLC                       
attached:ii                                                                                                       
                                                                                                                  
2. Reason for the notification (please tick the appropriate box or boxes):                                         
                                                                                                                  
An acquisition or disposal of voting rights                                               X            
                                                                                                                  
An acquisition or disposal of qualifying financial instruments which may result                                   
in the acquisition of shares already issued to which voting rights are attached                                   
                                                                                                                  
An acquisition or disposal of instruments with similar economic effect to                                         
qualifying financial instruments                                                                                  
                                                                                                                  
An event changing the breakdown of voting rights                                                                  
                                                                                                                  
Other (please specify):                                                                                           
                                                                                                                  
3. Full name of person(s) subject to the                    FIL Limited                                           
notification obligation:iii                                                                                       
                                                                                                                  
4. Full name of shareholder(s)                              See Section 9                                         
 (if different from 3.):iv                                                                                        
                                                                                                                  
5. Date of the transaction and date on                                                                            
which the threshold is crossed or                           18 February 2015                                      
reached: v                                                                                                        
                                                                                                                  
6. Date on which issuer notified:                           19 February 2015                                      
                                                                                                                  
7. Threshold(s) that is/are crossed or                      5%                                                    
reached: vi, vii                                                                                                  
             
                                                                                                     
8. Notified details:                                                                                              
                                                                                                                  
A: Voting rights attached to shares viii, ix                                                                      
                                                                                                                  
Class/type of  Situation previous               Resulting situation after the triggering transaction              
shares         to the triggering                                                                                  
               transaction                                                                                        
                                                                                                                  
if possible    Number                Number     Number            Number of voting    % of  voting                
using          of                    of         of shares         rights              rights x                    
the ISIN CODE  Shares                Voting                                                                       
                                     Rights     Indirect          Direct   Indirect   Direct   Indirect           
                                                                  xi       xii                                    
GB0004300496                                                                                                      
               90,153,681            90,153,681 91,947,517                 91,947,517          5.02%              
                                                                                                                  
                                                                                                                  
                                                                                                                  
                                                                                                                  
B: Qualifying Financial Instruments                                                                               
                                                                                                                  
Resulting situation after the triggering transaction                                                              
                                                                                                                  
Type of financial         Expiration   Exercise/                 Number of voting     % of voting             
instrument                date         Conversion Period xiv     rights that may be   rights                  
                                                                 acquired if the                              
                               xiii                              instrument is                                
                                                                 exercised/                                   
                                                                 converted.                                   
                                                                                                                  
                                                                                                                  
                                                                                                                  
                                                                                                                  
                                                                                                                  
C: Financial Instruments with similar economic effect to Qualifying Financial                                     
Instruments xv, xvi                                                                                               
                                                                                                                  
Resulting situation after the triggering transaction                                                              
                                                                                                                  
Type of financial       Exercise    Expiration Exercise/           Number of voting     % of voting                
instrument              price       date Conversion period         rights instrument    rights xix, xx             
                                    xvii xviii                     refers to                                       
                                                                                                                  
                                                                                       Nominal         Delta      
                                                                                                                  
                                                                                                                  
                                                                                                                  
                                                                                                                  
Total (A+B+C)                                                                                                     
                                                                                                                  
Number of voting rights                   Percentage of voting rights                         
                                                                                                                  
91,947,517                                5.02%                                               
        

                                                                                                          
9. Chain of controlled undertakings through which the voting rights and/or the                                    
financial instruments are effectively held, if applicable: xxi                                                    
                                                                                                                  
Custodian                  Day to Day IM                              Total                                       
                                                                                                                  
JP MORGAN, BOURNEMOUTH (C) FII-FIL INVESTMENTS INTERNATIONAL          14,526,794                                  
                                                                                                                  
                           FILUK-FIL INVESTMENT SERVICES (UK) LIMITED 77,420,723                                  
                                                                                                                  
Grand Total                                                           91,947,517                                  
                                                                                                                  
                                                                                                                  
                                                                                                                  
Proxy Voting:                                                                                                     
                                                                                                                  
10. Name of the proxy holder:                                           FIL Limited                               
                                                                                                                  
11. Number of voting rights proxy holder will acquire:                  1,793,836                                 
                                                                                                                  
12. Date on which proxy holder will acquire  voting rights:             18 February 2015                          
                                                                                                                  
                                                                                                                  
                                                                                                                  
                                                                                                                  
13. Additional information:                                   None                                                
                                                                                                                  
14. Contact name:                                             Nina Collomosse                                     
                                                                                                                  
                                                                                                                  
                                                                                                                  
15. Contact telephone number:                                 [e-mail], 01737 837092