Mozambique Govt Awards Mining Licence on Manica...

Pan African Resources PLC (`Pan African' or the `Company') (Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000) Share code on AIM: PAF / JSE: PAN ISIN: GB0004300496 Mozambique Government Awards Mining Licence on Manica Project Pan African Resources, the African focused precious metals producer, has been awarded a mining licence on its Manica exploration project ("Manica Project") by the Mozambican government. The licence, which was converted from a prospecting licence, grants Pan African the opportunity to move the Manica Project to development stage. The pre-feasibility study in respect of the Manica Project relating to mining the oxide and some of the sulphide bearing mineralised material was completed on schedule in December 2010. A detailed pre-feasibility study is being completed on the remainder of the sulphide bearing mineralised material, which will include a detailed three dimensional underground mine design. This study is expected to be completed during Q2 of 2011 and results of both studies will be published towards the beginning of Q3 of 2011. Jan Nelson, Chief Executive of Pan African commented: "We are pleased to have been awarded this mining licence on the Manica Project as well as with the overall progress on the project to date. Once the pre-feasibility study is completed, we will be in a position to review how we move the project forward." ENDS For further information on Pan African Resources plc, please visit the website at www.panafricanresources.com South Africa UK Pan African RBC Capital Markets Jan Nelson, Chief Executive Officer Martin Eales +27 (0) 11 243 2900 +44 (0) 20 7653 4000 Pan African St James's Corporate Services Limited Nicole Sprujit Phil Dexter +27 (0) 11 243 2900 +44 (0) 20 7499 3916 Macquarie First South Advisers (Pty) Ltd Gable Communications Melanie de Nysschen / Yvette Labuschagne / Justine James Annerie Britz +44 (0) 20 7193 7463 +27 (0) 11 583 2000 +44 (0) 7525 324431
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