Trading Statement

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" or the "Company")                        

                      Trading Statement FYE 30 June 2012                       

                EPS expected to be more than 64% ahead of 2011                 

In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, a listed
company is required to publish a trading statement as soon as it is satisfied
that a reasonable degree of certainty exists that the financial results for the
period to be reported on next, will differ by at least 20 per cent from those
of the previous corresponding period.

Pan African is pleased to advise shareholders that its earnings per share
("EPS") and headline earnings per share ("HEPS") for the financial year ended
30 June 2012, denominated in Pound Sterling ("GBP"), are expected to be between
64 per cent and 74 per cent higher than the 1.20 pence per share generated for
the financial year ended 30 June 2011. EPS and HEPS calculated in South African
Rand ("ZAR"), using the average ZAR: GBP exchange rate of 12.27 that prevailed
during the year ended 30 June 2012, are expected to be between 82 per cent and
92 per cent higher than the comparable period's 13.31 cents per share at an
average ZAR: GBP exchange rate of 11.11.

Jan Nelson, Chief Executive Officer of Pan African commented: "We are delighted
with the Company's performance for our full year, one which delivered
consistent production at Barberton, our first platinum production at Phoenix,
growth of our gold ounces with the Barberton tailings retreatment plant and of
course our successful bid for Harmony's Evander gold project. We look forward
to 2013 with great optimism, a year in which we anticipate doubling our gold
production and continuing to deliver growth for shareholders."

The financial information contained in this trading statement has neither been
reviewed nor reported on by the Company`s auditors.

The results for the year ended 30 June 2012 are expected to be published during
the week commencing 24 September 2012.

Pan African is incorporated in England and Wales under Companies Act 1985 and
accordingly its presentation currency is GBP.

28 August 2012

Johannesburg

Sponsor

One Capital

Enquiries                            UK                                        
                                                                               
South Africa                                                                   
                                                                               
Pan African Resources                Canaccord Genuity Limited - Nomad and     
                                     Joint Broker                              
Jan Nelson, Chief Executive Officer                                            
                                     John Prior / Sebastian Jones / Joe Weaving
[phone]                                                            
                                     [phone]                      
                                                                               
One Capital                          finnCap Limited - Joint Broker            
                                                                               
Sholto Simpson / Megan Young /       Elizabeth Johnson / Joanna Weaving        
Nicholas Tyler                                                                 
                                     [phone]                      
[phone]                                                            
                                                                               
Vestor Investor Relations            St James's Corporate Services Limited     
                                                                               
Louise Brugman                       Phil Dexter                               
                                                                               
[phone]                  [phone]                      
                                                                               
                                     Gable Communications                      
                                                                               
                                     Justine James                             
                                                                               
                                     [phone] / [phone]

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