Director/PDMR Shareholding

16 March 2012

Sovereign Mines of Africa PLC

("SMA" or "the Company")

Director Dealings

On 15 March 2012, the self administered pension fund of Mr David Pearl, the Chairman of the Company, sold 12,500 ordinary shares of 1p each in the Company ("Ordinary Shares") at a price of 8.3p per share, in order to finance its annual administration charges.

On the same day Mr David Pearl subsequently repurchased 12,500 Ordinary Shares in the market at 8.7p per share.

As a result Mr David Pearl's direct and indirect interest remains unchanged at 24,380,199 Ordinary Shares representing 14.71% of the issued share capital of the Company.

Mr Pearl's holding above includes a beneficial holding of 367,500 ordinary shares in the Company held by Mr Pearl's self administered pension fund and revises the information contained in the Company's AIM Admission Document dated 18 July 2011.

Enquiries:

SOVEREIGN MINES OF AFRICA PLC

David Pearl, F.C.A. - Chairman +353 696 8961

david.pearl@pearlcp.com

SHORE CAPITAL - NOMINATED ADVISER & BROKER

Toby Gibbs/Bidhi Bhoma - Corporate Finance

Jerry Keen - Corporate Broking +44 207 408 4090

RIVINGTON STREET CORPORATE FINANCE, JOINT BROKER

Jon Levinson - Corporate Broking +44 207 562 3357

SQUARE1 CONSULTING LIMITED

David Bick/Mark Longson +44 207 929 5599