Acquisition

Pan African Resources PLC
28 June 2007


28 June 2007


                           Pan African Resources plc

                        ('Pan African' or 'the Company')


                   Acquisition of Exploration Rights in Ghana


Pan African Resources plc (AIM: PAF), the African based exploration company,
announces that it has signed an agreement with SEMS Exploration Services Limited
('SEMS') and Birim Goldfields (Ghana) Limited ('Birim') to acquire 90% of the
licence rights of the Akrokerri Exploration Property ('Akrokerri') in southern
Ghana.


   • Acquisition of a substantial exploration property next to the largest
    gold producer in Ghana.

   • Advanced exploration play with major defined exploration targets.


        Pan African has acquired a 90% interest in Akrokerri from SEMS and Birim
        for a cash consideration of £52,632 and the issue of 12,000,000 ordinary
        shares of 1p each ('Shares') at a value of 6p (for a total value of
        £720,000 of which SEMS is being issued 6,120,000 Shares and Birim
        5,880,000 Shares). The interest will be held in a local special purpose
        entity in Ghana. Under the terms of the acquisition agreement both SEMS
        and Birim have agreed not to dispose of any Shares granted to them for a
        period of at least six months and thereafter the Company has the right
        to place the Shares should either party elect to dispose of their
        shareholding.


        The remaining 10% interest in the Akrokerri will continue to be held by
        Birim as a free carried interest which Pan African has the right to
        acquire once the project reaches Bankable Feasibility Stage ('BFS'), at
        a value determined by the BFS. Upon the granting of a mining licence, a
        10% interest in the project will be transferred to the Ghanaian
        government as a free carry.


        The newly acquired licence covers an area of 46.8km(2) and is contiguous
        to the largest gold producer in Ghana, the Obuasi Gold Mine, which has
        produced approximately 40Moz of gold. Historical underground mining by
        Akrokerri Ashanti Mines Limited from 1900 to 1909 within the licence
        area yielded approximately 74,000 ounces of gold at a recovered grade of
        24.6g/t. During 1996 Birim drilled nine boreholes totalling 1998.8m with
        two of the best intersections yielding 1m @ 24.8g/t and 1m @ 12.3g/t.


        Jan Nelson, CEO of Pan African, said: 'Pan African successfully acquired
        this licence in a highly competitive market by establishing good
        relations with our local business partners. Moving into Ghana gives
        effect to our stated strategy of balancing geographic risk and investing
        in projects with potential to deliver significant returns.'


    NOTES TO THE EDITOR


    Garth Mitchell, MGSSA, MSAIMM, BSc(Hons), BCom, PrSciNat, from ExplorMine
    Consultants who act as Competent Person to the Company and who meets the
    criteria of a qualified person under the AIM guidance note for mining, oil
    and gas companies, has reviewed and approved the technical information
    contained within this announcement.


                                      ENDS


Enquiries:


Pan African Resources                     Ambrian Partners
Jan Nelson / CEO                          Richard Brown / NOMAD
[phone]                       [phone]

Colin Bird / Chairman
+ 44 (0) 207 584 2144


Parkgreen Communications - United Kingdom
Justine Howarth/Clare Irvine
[phone]


FD Beachhead - South Africa
Jennifer Cohen/Louise Brugman
[phone] / [phone]



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