Pan African Resources Regulatory News (PAF)

10 Nov 2005 07:00

Pan African Resources PLC10 November 2005 For Immediate Release 10 November 2005 Pan African Resources PLC ("Pan African" or "the Company") Project Update: Bogoin Project, Central African Republic Pan African Resources PLC (AIM: PAF) the African based gold exploration company,announces the results of the first phase of regional geochemical sampling in theBogoin Project ("the Project") , Central African Republic (CAR). • A regional gold soil geochemical anomaly with a strike extent in excess of 5km has been identified on the Bogoin Project. • This first phase of the programme was successfully completed ahead of planned schedule. • The second phase of the exploration programme to further define the extent and quality of the Project is already well underway and will focus on infill geochemical line sampling and extending the current soil sampling grid to test for parallel gold anomalous zones. A regional soil sampling programme covering an area of approximately 20km instrike-length with an 800m line spacing was completed on part of the BogoinProject. The Project is covered by an exclusive exploration license and is ajoint venture between Pan African, International Mining Investments (IMI) andGoldiam SARL. The results from this first phase of the regional exploration programme haveidentified a significant gold anomaly, exceeding 5km in strike-length. This issignificant as it could indicate the potential for a large gold deposit. The second phase of the exploration programme on the Project will focus oninfill geochemical line sampling. This will be combined with the extension ofcurrent soil geochemical sampling grid to test for anomalous gold occurrencesparallel to the current identified anomaly. "This anomaly, despite being a regional reconnaissance or first pass explorationtool, indicates that we are focusing our exploration efforts in the right place. We have successfully completed the first phase of our exploration programahead of our planned schedule and work is underway on the second phase. PanAfrican and its partners will be aggressively directing this phase of theexploration and look forward to reporting on these results in the new year,"commented Jan Nelson, CEO of Pan African. - ENDS - Enquiries: Pan African Resources Evolution Securities Parkgreen CommunicationsJan Nelson, CEO Tim Redfern Justine Howarth /+27 11 886 1211 +44 (0)20 7071 4312 Victoria ThomasColin Bird +44 (0)20 7493 3713+44 (0)20 7584 2155 This information is provided by RNS The company news service from the London Stock Exchange