Change of JSE Sponsor

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')

CHANGE OF JSE SPONSOR

Pan African is pleased to announce the appointment of One Capital as the
Company's JSE Sponsor with effect from 12 March 2012.

Johannesburg

13 March 2012

JSE Sponsor                                                                    
                                                                               
One Capital                                                                    

Enquiries

South Africa                               UK                                  
                                                                               
Pan African Resources                      RBC Capital Markets                 
                                                                               
Jan Nelson, Chief Executive Officer        Martin Eales / James Kelly          
                                                                               
[phone]                        [phone]                
                                                                               
One Capital                                St James's Corporate Services       
                                           Limited                             
Sholto Simpson / Megan Young / Nicholas                                        
Tyler                                      Phil Dexter                         
                                                                               
[phone]                        [phone]                
                                                                               
Vestor Investor Relations                  Gable Communications                
                                                                               
Louise Brugman                             Justine James                       
                                                                               
[phone]                        [phone]                

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