Pan African Resources Regulatory News (PAF)

27 Nov 2007 07:00

Regulatory Announcement Company Pan African Resources PLC Headline Drilling Update Released 27 November 2007 Date: 27 NOVEMBER 2007 Pan African Resources PLC ("Pan African" or the "Company") Bogoin Gold Project, Central African Republic: Drilling Update

Pan African Resources PLC (AIM: PAF, AltX: PAN), the African based gold mining and exploration company announces the results of the first phase of Rotary Air Blast ("RAB") drilling at the Bogoin gold project in the Central African Republic.

Highlights:

* Significant gold mineralisation intersections were achieved * Drill hole intersections confirm gold mineralisation at depth. Best mineralisation tenor is highlighted by the following drill hole results: * + RAB 0002 - 1m @ 25.55g/t; 1m @ 7.95g/t & 1m @ 6.83g/t + RAB 0009 - 1m @ 6.30g/t

As announced on 19 November 2007, 2,085m of the 15,600m of the Bogoin Rotary Air Blast ("RAB") drilling programme have been completed in the Central African Republic and assay results from 21 boreholes have been received. Following the completion of the verifications by the geological team the company announces the following:

The following table outlines individual intersections made; width reported are as intersected in the hole (no composite values are reported):

Exploration drill hole number Depth From Depth To Width (m) Gold grade (BHID) (m) (m) (g/t) RAB0002 6.00 7.00 1.00 25.55 RAB0002 7.00 8.00 1.00 7.95 RAB0002 8.00 9.00 1.00 6.83 RAB0009 3.00 4.00 1.00 6.30 RAB0017 3.00 4.00 1.00 1.13 RAB0017 11.00 12.00 1.00 1.16 RAB0018 4.00 5.00 1.00 1.02 RAB0018 11.00 12.00 1.00 1.22 RAB0018 12.00 13.00 1.00 1.45 RAB0018 14.00 15.00 1.00 0.98 RAB0018 15.00 16.00 1.00 1.04 RAB0018 16.00 17.00 1.00 0.98 RAB0019 4.00 5.00 1.00 1.06 RAB0019 5.00 6.00 1.00 1.14 RAB0019 6.00 7.00 1.00 2.33 RAB0019 7.00 8.00 1.00 1.34 RAB0019 8.00 9.00 1.00 1.58 RAB0019 9.00 10.00 1.00 1.56 RAB0019 10.00 11.00 1.00 2.70 RAB0019 11.00 12.00 1.00 2.92 RAB0019 12.00 13.00 1.00 3.37 RAB0019 13.00 14.00 1.00 2.28 RAB009 14.00 15.00 1.00 1.36 RAB0019 16.00 17.00 1.00 10.80 RAB0019 17.00 18.00 1.00 1.92 RAB0019 18.00 19.00 1.00 1.34 RAB0019 20.00 21.00 1.00 1.42 RAB0020 1.00 2.00 1.00 1.30 RAB0020 2.00 3.00 1.00 1.37 RAB0020 3.00 4.00 1.00 1.20 RAB0020 4.00 5.00 1.00 1.32 RAB0020 5.00 6.00 1.00 1.46 RAB0020 6.00 7.00 1.00 7.72 RAB0020 7.00 8.00 1.00 1.26 RAB0020 8.00 9.00 1.00 1.50 RAB0020 9.00 10.00 1.00 1.30

Jan Nelson, CEO of Pan African, commented: "The drilling results are being used to confirm previous interpretations of gold mineralisation at surface to depths of 15 - 35m. The drilling results received to date, have encouraged the Company to speed up the drilling programme and as a result a Reverse Circulation ("RC") drill rig will be on site by the end of Q1 2008 in addition to the RAB drill rig.

ENDS

Martin Bevelander, Group Consulting Geologist for Pan African Resources, is SACNASP (South African Council for Natural Scientific Professions) accredited and was responsible for validating the borehole intersections.

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

Enquiries:Pan African Ambrian Partners Macquarie First St James's Resources Limited South Corporate Corporate Services Finance (Pty) Limited Jan Nelson, CEO Richard Brown Limited Phil Dexter +27 (0) 11 777 +44 (0) 20 7776 6417 Amanda Markman 7840 +44 (0) 20 7499 Richard Greenfield +27 (0) 11 343 2307 3916 Keith Spencer, Chairman +44 (0) 20 7776 6418 Donĩ Hattingh +27 (0) 11 880 +27 (0) 11 343 2308 3155 Nicole Stoyell Public Relations +27 (0) 11 777 7840