Final Results For the period ended 30 June 2007

Pan African Resources PLC (`Pan African' or the `Company')           

                                 Final Results                                 

                       For the period ended 30 June 2007                       

Pan African Resources PLC (AIM: PAF, AltX: PAN), the African based gold mining
and exploration company is pleased to report its final results for the 15 month
period ended 30 June 2007.

HIGHLIGHTS OF THE PERIOD UNDER REVIEW

* Acquisition of 90% stake in the Akrokerri gold project, Ghana.

* Increased resource at the Manica gold project, Mozambique to 1,550Moz in
situ.

* Commenced drilling at Bogoin gold project, Central African Republic.

* Identified 4 gold-in-soil anomalies at the Dekoa gold project, Central
African Republic.

* Loss of £922,450 (18 months ended 31 March 2006: £865,249), representing a
loss per share of 0.22p (2006: 0.24p).

POST PERIOD END HIGHLIGHTS

* Acquisition of 74% stake in Barberton Mines (Pty) Limited, South Africa,
transforming the Company into a mid tier gold producer.

CHAIRMAN'S STATEMENT

Your Company repositioned itself during 2007 with a major transaction, being
the acquisition of Barberton Mines (Pty) Ltd, which was completed after the
period under review. Going into the future, it is now a mid-tier gold Company,
with both production ounces and an exciting portfolio of exploration assets.

During the fifteen months under review, the Company incurred a loss of £922,450
(18 months ended 31 March 2006: £865,249), representing a loss per share of
0.22p (2006: 0.24p).

On 31 July 2007 your Company acquired Barberton Mines (Pty) Ltd from Metorex
Limited in exchange for a new issue of shares resulting in Metorex Limited now
holding a 55% interest in Pan African. At the time of completion, the Company
was granted a secondary listing on the Alternative Exchange (Altx) of the JSE
Limited in South Africa. Barberton Mines consists of three operational gold
mines, Fairview, Sheba and New Consort, situated in the Barberton Greenstone
belt of South Africa, which together produced 90 000 oz of gold in 2007, and
the accounts for the year ended 30 June 2007 showed a net profit before
interest, tax and depreciation of £5.8 million. This acquisition lifted your
Company from a junior exploration Company to a mid-tier exploration and gold
producing Company. The significance of this is that the profits generated from
the mining operations will be used to fund and increase the exploration effort
of the Company.

Exploration activities were accelerated during the period. The Manica project
in Mozambique has progressed well, with an independent Pre-Feasibility study
giving encouraging results to date. Further drilling has delineated additional
gold resources, which have been independently verified and are now in excess of
1.5 million ounces. This is by far the most advanced exploration site, and
during the coming year, we expect it to be progressed to a full Bankable
Feasibility Study.

In the Central African Republic, soil sampling and Reverse Air Blast (`RAB')
drilling has given encouraging results at the Bogoin prospect. Two areas have
been identified with a combined strike length of 12 km. During 2007, further
drilling using a Reverse Circulation (`RC') drill will be undertaken, with the
view of delineating and evaluating the resource. At the second concession,
Dekoa, crews have been mobilised, and a soil geochemical survey will be
conducted. The Central African Republic is a relatively unexplored tenement
which could prove to be a major gold province.

During the period, an agreement was signed with Birim Goldfields Incorporated,
to acquire the Akrokerri prospecting concession in Ghana. This concession abuts
Anglogold-Ashanti's Obuasi mine. Extensive work has been undertaken over the
years on this concession, and during 2007 this data will be analysed to
identify prospective targets. The Company's exploration projects are robust,
and have the potential to deliver significant returns in both the near and
medium term.

I believe the outlook for gold remains robust, with a spectacular increase in
the Dollar-denominated gold price during the past year. A lack of exploration
investment over the past decade has reduced gold output and this, together with
the weakening Dollar, rising oil prices and the sub-prime crisis, has once
again highlighted gold as a safe haven. These fundamentals are expected to
remain, giving support for the price and earnings growth going forward.

The Company will continue to aggressively pursue acquisitions of prospective
gold deposits with good upside potential, as well as looking for acquisitions
or Joint Ventures with other gold exploration companies who have proven
resources or operating mines which can add to the production ounces and future
cash flows.

I would like to welcome Simon Malone and Charles Needham to the Board, who
joined as Metorex Limited representatives upon the Barberton acquisition. My
sincere thanks go to my fellow Directors, particularly to Jan Nelson our CEO
and his staff for their efforts during the past year, and finally to my
predecessor, Colin Bird, who during his tenure as Chairman, took the Company to
where it is today.

KEITH SPENCER

Chairman

20 December 2007.

CONSOLIDATED PROFIT AND LOSS ACCOUNT

Period ended 30 June 2007

                                                  15 months to    18 months to
                                                      30/06/07        31/03/06
                                                                              
                                                                    (restated)
                                                                              
                                                             £               £
                                                                              
Exploration costs                                    (345,208)       (464,575)
                                                                              
Administrative expenses                              (609,637)       (420,783)
                                                                              
Operating loss                                       (954,845)       (885,358)
                                                                              
Interest receivable                                     37,195          30,759
                                                                              
Amounts written off investments                        (4,800)        (10,650)
                                                                              
Loss on ordinary activities before taxation          (922,450)       (865,249)
                                                                              
Tax on loss on ordinary activities                           -               -
                                                                              
Loss for the financial period                        (922,450)       (865,249)
                                                                              
Loss per ordinary share - basic and diluted            (0.22p)         (0.24p)

CONSOLIDATED BALANCE SHEET

As at 30 June 2007

                                                     30/06/07          31/03/06
                                                                               
                                                            £                 £
                                                                               
FIXED ASSETS                                                                   
                                                                               
Intangible assets                                   6,312,030         4,847,630
                                                                               
Investments                                                 -             4,800
                                                                               
                                                    6,312,030         4,852,430
                                                                               
CURRENT ASSETS                                                                 
                                                                               
Debtors                                               294,365             3,225
                                                                               
Cash at bank                                          326,847         1,874,702
                                                                               
                                                      621,212         1,877,927
                                                                               
Creditors: amounts falling due within one year    (1,026,493)         (399,455)
                                                                               
                                                    (405,281)         1,478,472
                                                                               
Total assets less current liabilities               5,906,749         6,330,902
                                                                               
CAPITAL AND RESERVES                                                           
                                                                               
Share capital                                       4,180,032         4,077,532
                                                                               
Share premium account                               4,076,769         3,978,178
                                                                               
Merger reserve                                      1,560,000         1,485,000
                                                                               
Share option reserve                                  296,162            73,956
                                                                               
Profit and loss account                           (4,206,214)       (3,283,764)
                                                                               
Shareholders' funds                                 5,906,749         6,330,902

CONSOLIDATED CASH FLOW STATEMENT

Period ended 30 June 2007

                                                 15 months to      18 months to
                                                     30/06/07          31/03/06
                                                                               
                                                            £                 £
                                                                               
Net cash outflow from operating activities          (559,244)         (503,901)
                                                                               
Returns on investments and servicing of finance        37,195            30,759
                                                                               
Capital expenditure and financial investment      (1,092,897)         (697,170)
                                                                               
Financing                                              67,091         1,820,881
                                                                               
(Decrease)/increase in cash                       (1,547,855)           650,569

NOTES TO THE FINANCIAL ACCOUNTS

Period ended 30 June 2007

1. Earnings per share

The calculation of basic earnings per ordinary share is based on losses of £
922,450 (18 months ended 31 March 2006: £865,249) and on 408,922,095 ordinary
shares (18 months ended 31 March 2006: 354,281,542), being the weighted average
number of ordinary shares in issue during the year, calculated as follows:

                                                    15 months         18 months
                                                 ended 30/06/      ended 31/03/
                                                           07                06
                                                                               
                                                                     (restated)
                                                                               
                                                            £                 £
                                                                               
Losses per financial statements                     (922,450)         (865,249)
                                                                               
Weighted average number of shares                 408,922,095       354,281,542
                                                                               
Loss per share - basic and diluted                    (0.22p)           (0.24p)

Following the Company's secondary listing on the JSE Limited post year end, the
Group is required to disclose its headline loss per share for the period in
accordance with the Listings Requirements of the JSE Limited.

Reconciliation between loss per share and headline loss per share:

                                                  15 months     18 months ended
                                               ended 30/06/            31/03/06
                                                         07                    
                                                                     (restated)
                                                                               
                                                          £                   £
                                                                               
Losses per financial statements                   (922,450)           (865,249)
                                                                               
Costs of aborted projects written off               345,208             464,575
                                                                               
Headline loss                                     (577,242)           (400,674)
                                                                               
Loss per share - basic and diluted                  (0.14p)             (0.11p)

2. Comparative figures

The comparative figures were for the eighteen months ended 31 March 2006.

3. Statutory accounts

The financial information set out above does not constitute statutory accounts
within the meaning of s.240 of the Companies Act 1985. The statutory accounts
in English only are being distributed to members on 21 December 2007 and will
be available for download from the Company's web site: 
www.panafricanresources.com.

Copies of the statement in English only will be available to the public free of
charge from the Company at Manfield House, 2nd Floor, 1 Southampton Street,
London WC2R 0LR as well as Viewpoint House, Corner Main Road and Orchard
Avenue, Bordeaux, Randburg, Gauteng, South Africa during normal office hours,
Saturdays, Sundays and bank holidays excepted, for 31 days from today.

                                     ENDS                                      

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

Enquiries:

Pan African Resources     Ambrian Partners Limited       Macquarie First South Corporate   St. James's Corporate
                                                         Finance (Pty) Limited             Services Limited
 
                                                         Amanda Markman                    Phil Dexter
Jan Nelson CEO            Richard Brown
                                                         [phone]               [phone]
[phone]       [phone]
 
                                                         Doné Hattingh
                          Richard Greenfield
                                                         [phone]
                          [phone]
 
Keith Spencer
 
Executive Chairman
 
[phone]
 


Nicole Stoyell
 
Public Relations
 
[phone]