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Pan African Resources PLC (PAF)

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Wednesday 09 March, 2005

Pan African Resources PLC

Exploration Update


Embargoed: 0700hrs, 9 March 2005

                           Pan African Resources Plc                           

                                (the "Company")                                

                              Exploration Update                               

  * Further significant exploration results from Ghana including 10 metres at
    6.44 g/t Au (including 4 meters at14.25g/t Au) and 7 metres at 9.93 g/t Au
    (including 4 meters at16.47 g/t Au).
   
  * Acquisition opportunities continue to be evaluated by management.
   
Following its announcement on 26 January 2004, Pan African Resources Plc is
pleased to update shareholders on further results from the Company's
exploration project in Ghana (the Wa Gold Project):

The Wa Gold Project, Ghana.

The Company has completed its 6,000 metre reverse circulation drilling
programme at the project, which was designed to further test and extend the
known gold mineralization of the Julie Prospect (current inferred resource of
over 300,000 ounces of gold to only a shallow depth) both along strike and at
depth and to increase the quality of the resource estimate.

Whilst full results for the entire 6,000 metre project are still being
processed, results from a further 1,321 m of reverse circulation drilling are
now available and the following table details some of the more significant
intersections:

Drill Hole    Intersection           To       Width        Grade
                   From(m)                                      
                                                (m)     (Au g/t)
                                                                
JRC 30                   0           10          10         2.12
                                                                
                        14           15           6         3.18
                                                                
                        23           24           1         1.22
                                                                
JRC32                    9           10           1         1.18
                                                                
                        14           16           2         0.70
                                                                
                        19           21           2         1.79
                                                                
                        31           32           1         3.59
                                                                
JRC33                   14           24          10         6.44
                                                                
                              Including           4        14.25
                                                                
JRC38                   27           30           3         1.76
                                                                
                        50           53           3         2.91
                                                                
JRC44                    0            1           1         0.66
                                                                
                         5            8           3         4.06
                                                                
                        31           33           2         0.60
                                                                
                        38           39           1         1.09
                                                                
JRC52                   22           24           2         0.59
                                                                
                        33           40           7         9.93
                                                                
                              Including           4        16.47
                                                                
JRC72                    8            9           1         0.81
                                                                
                        16           21           5         9.52
                                                                
                              Including           3        15.04
                                                                
JRC77                   29           32           3         3.95

All holes were drilled at an inclination of -50 degrees.

Further drilling results will be provided shortly after which an assessment of
the resource at Julie will be made.

The Wa Gold Project is located in the Upper West Region of Ghana, approximately
50 km east of the regional capital, Wa and comprises three exploration
licences, Julie, Collette and Josephine, totalling 304 square kilometres.

The project is situated in an area of Birimian greenstones and granites in an
acurate belt, which represents the junction between the north-south trending
Lawra Belt and the north-east trending Bole-Navrongo Belt.

The geological setting of the project and the range of mineralization styles
identified to date are comparable to the major Birimian hosted gold deposits in
the south of Ghana and elsewhere in West Africa.

Further drilling results from both The Wa Gold Project and The Manica Gold
Project will be announced when they become available.

The Board of Pan African is currently pursuing a number of project acquisition
opportunities, which it believes would contribute shareholder value.
Shareholders will be informed of developments in this area as appropriate.

                                    -Ends-                                     

For further information please contact,

Roger Craddock

Managing Director, Pan African Resources Plc

Tel. 07785 364 291

Ben Simons

Hansard Communications

Tel. 020 7245 1100