Statement re Appointment of new CEO

Pan African Resources PLC                           

                ("Pan African" or the "Company" or the "Group")                

(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                               

             RETIREMENT OF RON HOLDING AND APPOINTMENT OF NEW CEO              

Pan African wishes to advise shareholders that Ron Holding (62) will retire as
Chief Executive Officer ("CEO") of the Group with effect from 1 March 2015. He
will be succeeded as CEO by Cobus Loots (37), who is currently the Finance
Director ("FD") of Pan African.

To ensure that Mr. Holding's experience and knowledge is retained by the Group,
an exclusive consulting agreement will be concluded with Mr. Holding, effective
1 March 2015.  This arrangement will be for a minimum period of one year.

Mr. Loots has been a director of Pan African since 2009, and was also
previously the Group's joint interim CEO from March 2013 to September 2013.

Mr. Loots is a CA(SA) and a CFA ® charterholder.  He completed his articles and
was an audit manager with Deloitte & Touché, after which he was employed in
Macquarie Africa's mining corporate finance business. Prior to joining Pan
African on a permanent basis, Cobus was the managing director of Shanduka
Resources, where he was directly responsible for the oversight of Shanduka's
mining and minerals investment portfolio. During his time at Shanduka, Cobus
was instrumental in executing the Pan African empowerment transaction with
Shanduka.

Messrs Holding and Loots have successfully driven the execution of Pan
African's strategy over the last few years.

The board of Pan African will announce a Group FD appointment, to replace Mr
Loots, in due course.

Keith Spencer, Chairman of Pan African, commented: "The Group and board of
directors wish to thank Ron for his dedication during his tenure as CEO, and we
look forward to his continued involvement." 

The appointment of Cobus as CEO secures the long-term stability and continuity
of executive management. Cobus is very familiar with our business and those
issues critical to the success thereof.

Pan African will continue delivering value to shareholders and other
stakeholders".

For further information on Pan African, please visit the Company's website at
www.panafricanresources.com

5 February 2015

Contact Details

Corporate Office
The Firs Office Building
1st Floor, Office 101
Cnr. Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa
Office: + 27 (0) 11 243 2900
Facsmile: + 27 (0) 11 880 1240

Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom

Office: + 44 (0) 207 796 8644
Facsmile: + 44 (0) 207 796 8645

Ron Holding                                      Cobus Loots
Pan African Resources PLC                        Pan African Resources PLC
Chief Executive Officer                          Finance Director
Office: + 27 (0)11 243 2900                      Office: + 27 (0) 11 243 2900

Phil Dexter                                      Peter Stewart
St James's Corporate Services Limited            Canaccord Genuity Limited
Company Secretary                                Nominated Adviser
Office: + 44 (0)207 796 8644                     Office: [phone]

Sholto Simpson                                   Matthew Armitt / Ross Allister
One Capital                                      Peel Hunt LLP
JSE Sponsor                                      Joint Broker
Office: + 27 (0)11 550 5009                      Office: [phone]

Julian Gwillim                                   Daniel Thöle
Aprio Strategic Communications                   Bell Pottinger PR
Public & Investor Relations SA                   Public & Investor Relations UK
Office: [phone]                       Office: + 44 (0)203 772 2500

www.panafricanresources.com