Pan African Resources PLC                           

    (Incorporated and registered in England and Wales under Companies Act 1985 with
                    registered number 3937466 on 25 February 2000)                 

                                     AIM Code: PAF                                 

                                     JSE Code: PAN                                 

                                  ISIN: GB0004300496                               

                           ("Pan African" or the "Company")                        

                           DIRECTORS' DEALINGS IN SECURITIES                       

    The Company was notified on 27 September 2016 of the following dealings in
    respect of the Company's ordinary shares:

    Name of director:                      Cobus Loots                           
                                                                                 
    Title held at the Company:             Chief executive officer               
                                                                                 
    Date of transaction:                   27 September 2016                     
                                                                                 
    Nature of transaction:                 Purchase of shares                    
                                                                                 
    Class of security:                     Ordinary shares                       
                                                                                 
    Number of ordinary shares:             248,609                               
                                                                                 
    Price per ordinary share:              ZAR3.60                               
                                                                                 
    Value of transaction:                  ZAR894,992.40                         
                                                                                 
    Nature of interest of executive:       Beneficial                            
                                                                                 
    On-market or off-market:               On-market                             
                                                                                 
    Clearance given in terms of Paragraph  Yes                                   
    3.66:                                                                        
                                                                                 
    Holding following transaction:         480,184                               

       

    Name of director:                      Deon Louw                             
                                                                                 
    Title held at the Company:             Finance director                      
                                                                                 
    Date of transaction:                   27 September 2016                     
                                                                                 
    Nature of transaction:                 Purchase of shares                    
                                                                                 
    Class of security:                     Ordinary shares                       
                                                                                 
    Number of ordinary shares:             137,450                               
                                                                                 
    Price per ordinary share:              Various different trades with the     
                                           following price information:          
                                                                                 
    Value of transaction:                  ZAR500,649.64                         
                                                                                 
    Nature of interest of executive:       Beneficial                            
                                                                                 
    On-market or off-market:               On-market                             
                                                                                 
    Clearance given in terms of Paragraph  Yes                                   
    3.66:                                                                        
                                                                                 
    Holding following transaction:         137,450                               

    Johannesburg
    28 September 2016

    CONTACT INFORMATION

    Corporate Office

    The Firs Office Building
    1st Floor, Office 101
    Cnr. Cradock and Biermann Avenues
    Rosebank, Johannesburg
    South Africa

    Office:   + 27 (0) 11 243 2900
    Facsimile: + 27 (0) 11 880 1240


    Registered Office

    Suite 31
    Second Floor
    107 Cheapside
    London
    EC2V 6DN
    United Kingdom

    Office:   + 44 (0) 207 796 8644
    Facsimile: + 44 (0) 207 796 8645

    Cobus Loots                                          Deon Louw
    Pan African Resources PLC                    Pan African Resources PLC
    Chief Executive Officer                           Financial Director
    Office: + 27 (0) 11 243 2900                    Office: + 27 (0) 11 243 2900

    Phil Dexter                                            John Prior / Paul Gillam
    St James's Corporate Services Limited    Numis Securities Limited
    Company Secretary                                Nominated Adviser and Joint
    Broker
    Office: + 44 (0) 207 796 8644                   Office: +44 (0) 20 7260 1000

    Sholto Simpson                                     Matthew Armitt / Ross
    Allister
    One Capital                                           Peel Hunt LLP
    JSE Sponsor                                        Joint Broker
    Office: + 27 (0) 11 550 5009                   Office: +44 (0) 207 418 8900

    Julian Gwillim                                         Daniel Thöle
    Aprio Strategic Communications              Bell Pottinger PR
    Public & Investor Relations SA                Public & Investor Relations UK
    Office: +27 (0)11 880 0037                     Office: + 44 (0) 203 772 2500

    Jeffrey Couch/Neil Haycock/Thomas Rider
    BMO Capital Markets Limited
    Joint Broker
    Office: +44 (0) 207 236 1010

    http://www.panafricanresources.com/