Pan African Resources Regulatory News (PAF)

Pan African Resources PLC ("Pan African" or the "Group" or the "Company") (Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000) Share code on AIM: PAF Share code on JSE: PAN ISIN: GB0004300496 ISSUE OF SHARES: EXERCISE OF OPTIONS Pan African announces that the following issue of Pan African ordinary sharesof 1p each ("Shares") has been made following the exercise of share optionsgranted in 2008 under the Company's share option plan: * 282,500 Shares at a price of R0.83 per Share, for a total consideration of R234,475 (collectively, the "Issue"). Application will be made to the AIM market of the London Stock Exchange ("AIM")and to the Main Board of JSE Limited ("JSE") for 282,500 Shares to be admittedto trading on AIM and for listing on the JSE, with admission to trading andlisting on both markets expected to occur on 10 February 2014. Following the Issue the total issued share capital of the Company comprises1,828,179,763 Shares. 05 February 2014 Sponsor One Capital PAN AFRICAN ENQUIRIES South Africa UK Pan African Resources Canaccord Genuity LimitedMr Ron Holding Nomad and Joint BrokerChief Executive Officer Neil Elliot / Peter Stewart / Joe Weaving+27 (0) 11 243 2900 +44 (0) 20 7523 8350 Vestor Investor Relations finnCap LimitedLouise Brugman Joint Broker+27 (0) 11 787 3015 Elizabeth Johnson / Joanna Weaving+27 83 504 1186 +44 (0) 20 7220 0500 One Capital St James's Corporate Services LimitedLiezl Gildenhuys Phil Dexter+27 (0) 11 550 5000 +44 (0) 20 7796 8647 Gable Communications Justine James +44 (0) 20 7193 7463 / +44 (0) 7525 324431 For further information on Pan African, please visit the website atwww.panafricanresources.com