Pan African Resources Regulatory News (PAF)

20 Apr 2006 08:44

Pan African Resources PLC20 April 2006 20th April 2006 Pan African Resources plc ("Pan African" or "the Company") DRILL RESULTS - MANICA GOLD PROJECT IN MOZAMBIQUE Pan African Resources plc (AIM: PAF), the African based exploration company,reports the results of a recent drilling programme completed at the Manicaproject in Mozambique. The drilling programme was undertaken to provide samples for metallurgical testwork as part of the ongoing pre-feasibly study at the Fair Bride gold prospect.A near-surface in situ resource of 852,747oz (8.47mt @ 3.13g/t) has beenindependently verified at the Fair Bride prospect with a total independentlyverified resource at Manica of 1.56Moz. The following composite intersections are highlighted, widths reported are asintersected in borehole; 19.32m @ 5.02g/t (borehole MDD001, from 66.05m - 85.37m), 17.67m @ 6.56g/t (borehole MDD002, from 98.50 - 116.17m), 12.57m @ 1.17g/t (borehole MDD003, from 105.72 - 118.29) and 9.40m @ 2.55 g/t (Borehole MDD004, from 80.65 - 90.05m). The individual results from the four boreholes drilled are tabulated below.Borehole MDD2 also intersected a previously unknown reef grading 4.88g/t over awidth of 4.09m. The metallurgical testwork is ongoing and it is expected that results will becompleted by the end of Q3 2006. Jan Nelson, CEO of Pan African commented; "The results from the infill drillinghave exceeded our expectations and will allow us to upgrade the surface tonear-surface resource at Fair Bride. We are finalising the results from therecently completed dipole-dipole geophysical survey which will form the basisfor future exploration activity at Manica. I look forward to reporting theresults of that survey in the next few weeks. The Company is gearing up for alarge exploration programme to assess Manica's potential to host a multi-millionounce gold deposit. To date we have only explored 12% of the mineralizedstrike-length, we will now turn our attention to the 88% that is unexplored." Borehole number From To Width (m) Grade (g/ Borehole number From To Width (m) Grade (g/ t) t) MDD001 66.05 67.05 1.00 10.90 MDD002 93.70 94.50 0.80