Resignation of Chief Executive Officer

PAN AFRICAN RESOURCES PLC - Resignation of Chief Executive Officer

PR Newswire

London, February 27

Pan African Resources PLC

(Incorporated and registered in England and Wales under Companies Act 1985 withregistered number 3937466 on 25 February 2000)

("Pan African" or "the Company")

RESIGNATION OF CHIEF EXECUTIVE OFFICER

Pan African shareholders are advised that Mr Jan Nelson has resigned as theCompany's Chief Executive Officer ("CEO") and as a member of the board ofdirectors ("Board"), with effect from 1 March 2013. Mr Nelson's advice remainsavailable to the Company. He remains a director of Auroch Minerals, the holdingcompany of the Manica Gold Project.

The Board thanks Mr Nelson for his significant contribution to the growth ofPan African, including in respect of the successful acquisition of Evander GoldMines Limited, and wishes him well with his future endeavours.

The Board has appointed Mr Ron Holding and Mr Cobus Loots as joint interimCEO's, until a successor is appointed. Mr Holding is currently the ChiefOperating Officer of Pan African and has been an employee of Phoenix PlatinumMining (Proprietary) Limited and Pan African since 2001. Mr Loots is the formerChief Financial Officer of Pan African and has been a director of the Companysince 2009.

Keith Spencer, Chairman of the Board, commented: "We appreciate Jan'ssignificant contribution to the transformation and growth of Pan African andparticularly in respect of the successful acquisition of Evander Gold Mines.The Board wishes him all the best with his future endeavours. Mr Nelson hasagreed that his counsel will remain available to the Company for a periodfollowing his departure."

Mr Nelson commented: "I thank the Board for its good wishes and am proud toleave the Company following the successful achievement of such a significantmilestone. I believe Evander will contribute significantly to Pan African'smedium to long term growth and my best wishes accompany all the staff and otherstakeholders in Pan African."

Sholto Simpson / Megan Young Elizabeth Johnson / Joanna Weaving+27 (0) 11 550 5000

For further information on Pan African, please visit the website atwww.panafricanresources.com