Pan African establishes Sponsored ADR Programme

Pan African Resources PLC

(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

("Pan African Resources" or "the Company")

PAN AFRICAN RESOURCES ESTABLISHES SPONSORED AMERICAN DEPOSITORY RECEIPT (ADR) PROGRAMME

Pan African Resources’ shareholders are advised that the Company  has established a sponsored Level -1 ADR programme today on the over-the-counter market in the United States (US)  with  the Bank of New York Mellon (BNY Mellon) being the appointed Depository.

Each depository receipt in the ADR programme represents twenty (20) ordinary shares in Pan African Resources and trades under the symbol ‘PAFRY’.

Pan African Resources CEO Cobus Loots said: “ Pan African has a strong shareholder base in South Africa and in the United Kingdom.  By establishing the ADR programme, the Company will make investing in its shares even more accessible to international investors, particularly the US investor market. Furthermore, Pan African joins a number of its peers which have successfully implemented an ADR programme.”

Pan African Resources has a dual listing on the Main Board of the Johannesburg Stock Exchange in South Africa (JSE:PAN) and AIM Market of the London Stock Exchange in the UK (AIM:PAF).

Rosebank

02 July 2020

For further information on Pan African Resources, please visit the Company's website at

www.panafricanresources.com

Contact information
Corporate Office The Firs Office Building 2nd Floor, Office 204 Cnr. Cradock and Biermann Avenues Rosebank, Johannesburg South Africa Office:  + 27 (0)11 243 2900 [e-mail]	Registered Office Suite 31 Second Floor 107 Cheapside London EC2V 6DN United Kingdom Office: + 44 (0)20 7796 8644
Cobus Loots  Pan African Resources PLC  Chief Executive Officer  Office: + 27 (0)11 243 2900	Deon Louw Pan African Resources PLC Financial Director Office: + 27 (0)11 243 2900
Phil Dexter/Jane Kirton St James's Corporate Services Limited Company Secretary Office: + 44 (0)20 7796 8644	John Prior Numis Securities Limited Nominated Adviser and Joint Broker Office: [phone]
Ciska Kloppers Questco Corporate Advisory Proprietary Limited JSE Sponsor Office: + 27 (0)11 011 9200	Ross Allister/David McKeown Peel Hunt LLP Joint Broker Office: [phone]
Hethen Hira Pan African Resources PLC Head : Investor Relations Tel: + 27 (0)11 243 2900 E-mail: [e-mail]	Thomas Rider/Neil Elliot BMO Capital Markets Limited Joint Broker Office: [phone]
Website: www.panafricanresources.com