Pan African Resources Regulatory News (PAF)

20 Apr 2006 09:35

Pan African Resources PLC20 April 2006 The following amends the Manica Drill Results announcement released on 20thApril 2006 at 8:44am, under RNS number 7173B. The figure stating the Manicaverified resource should read 1.056Moz and not 1.56Moz as previously stated. 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 1.056Moz. 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