Issue of Equity

Pan African Resources PLC
19 September 2007



           Pan African Resources PLC ('Pan African' or the 'Company')

                                Issue of Shares

The Directors of Pan African today announce that the Company has issued and
allotted 5,872,727 ordinary shares of 1p each ('Shares') at a price of 4p per
Share pursuant to an exercise of share options.

Application has now been made to the AIM Market of the London Stock Exchange ('
AIM') and the Alternative Exchange of the JSE Limited ('AltX') for 5,872,727
Shares to be admitted to trading on AIM and listing on AltX ('Admission').
Admission is expected to occur at 8.00am (UK time) on 21 September 2007.

Pan African now has 1,078,866,438 Shares in issue representing 1,078,866,438
voting rights.

For further information please contact:

Pan African Resources           Ambrian Partners Limited   Macquarie First South          Parkgreen Communications
                                                           Corporate Finance (Pty)
                                                           Limited

                                Richard Brown              Amanda Markman                 Justine Howarth
                                [phone]       +27 11  (0) 343 2307           [phone]
Jan Nelson, CEO                 
[phone]

                                Richard Greenfield         Done Hattingh
                                [phone]       [phone]
Nathan Steinberg                
[phone]



                      This information is provided by RNS
            The company news service from the London Stock Exchange