Statement re New Order Mining Rights

23 Apr 2010 07:30

Regulatory Announcement Company Pan African Resources plc TIDM PAF Headline New order mining rights approved Released 23 April 2010 Pan African Resources PLC (`Pan African' 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 New order mining rights approved and granted to Barberton

Pan African is pleased to announce that the Department of Mineral Resources ("DMR") has approved and granted the conversion of its old order mining rights in respect of Barberton Mines (Pty) Limited ("Barberton Mines") into new order mining rights ("NOMR").

In terms of the South African Mineral and Petroleum Resources Development Act, 2002 ("MPRDA") all mining licences issued prior to the MPRDA coming into effect on 1 April 2004 are described as old order mining rights. Holders of such rights were required to have applied to the DMR for the conversion of the old order mining rights into NOMR within five years of the MPRDA coming into effect.

Barberton's NOMR relate to the mining licences in respect of Fairview Mine (old order mining licence 28/2003), New Consort Mine (old order mining licence 30/ 2003) and Sheba Mine (old order mining licence 29/2003). These licences combined comprise the Barberton mining operation.

Jan Nelson, Chief Executive Officer of Pan African welcomed the DMR's approval, and commented, "The granting of new order mining rights creates long term stability for our business and demonstrates that South Africa remains an attractive place to conduct mining business."

ENDS

For further information on Pan African Resources plc, please visit the website at www.panafricanresources.com

Enquiries: Pan African Resources Jan Nelson, Chief Executive Officer +27 (0) 11 243 2900 Nicole Spruijt, Public Relations

+27 (0) 11 243 2900 RBC Capital Markets Martin Eales / Brett Jacobs +44 (0) 20 7029 7881

Macquarie First South Advisers (Pty) Limited Melanie de Nysschen / Thembeka Mgoduso +27 (0) 11 583 2000 St James's Corporate Services Limited Phil Dexter

+44 (0) 20 7499 3916