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Pan African Resource (PAF)

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Tuesday 20 June, 2006

Pan African Resource

Manica Resource Upgade

Pan African Resources PLC
20 June 2006

20th June 2006

                          Pan African Resources plc

                       ('Pan African' or 'the Company')

       24% Resource Increase to 1.311Moz at Manica Project, Mozambique

Pan African Resources PLC (AIM: PAF), the African based gold exploration
company, announces an increase in the resource at its Manica Gold Project in
Mozambique. The resource has been increased by 24% or 254,398oz from 1,055Moz to
1,311Moz and has been independently verified by ExploreMine Consultants
('ExploreMine') and Geologix MRC (Pty) Ltd ('Geologix'). The upgrade in the
resource is the result of a recently completed infill drilling programme (press
release - 20 April 2006) and updated geological information at the project.


   • Total resource has been increased to 1,311Moz
   • 24% increase from the previous resource estimate

The total resource has been upgraded from 9.632mt @ 3.41g/t (1,056Moz) to 14mt @
2.89g/t (1,311Moz). The resource at the Fair Bride prospect has been increased
by 17% to 1Moz as part of the ongoing pre-feasibility study to evaluate the
viability of an open-cast mine.

Jan Nelson, Chief Executive of Pan African, commented: 'Over the last 8 months
the resource at Manica has been increased by 57% or 511,280oz. The currently
delineated resource represents only 12% of the total mineralised strike-length.
We are focussing our exploration efforts on three major target areas outside the
currently stated resource area, to evaluate each area's potential to contain in
excess of 500,000oz. Work on the pre-feasibility study at the Fair Bride
prospect is on schedule and I look forward to reporting on the results of both
these programmes in the mid-term.'


  • ExploreMine Consultants (Pty) Ltd act as Pan African's Competent Persons
    for the Manica Project and independently signed off on the resource upgrade.
    ExplorMine is a South African based Resource & Geological Consultancy - the
    principal directors and geologists of the company are Graham Gavine and
    Garth Mitchell, who are SACNASP accredited.

  • Geologix MRC (Pty) Ltd is a South African Resource and Geological
    Consultancy - Deon van den Heever is SACNASP accredited and was responsible
    for the resource estimate.

  • The resource statement is SAMREC compliant and this announcement has
    been verified by both geological consultancy firms.

  • SACNASP - South African Council for Natural Scientific Professions.

    SAMREC - South African Mineral Resource Code (similar to JORC)

                              MANICA GOLD PROJECT - JUNE 2006 RESOURCE STATEMENT

                                      Gross*                         Net attributable*        Operator

Prospect       Category     Tons    Grade (g/t) Gold (oz)      Tons    Grade (g/t)  Gold (oz) Pan African Resources plc


Fair Bride     Measured   1,044,935     3.30    110,885       1,044,935     3.30    110,885   Pan African Resources plc

               Total      1,044,935     3.30    110,885       1,044,935     3.30    110,885   Pan African Resources plc

Guy Fawkes     Indicated    101,633     6.89     22,529         101,633     6.89     22,529   Pan African Resources plc

Fair Bride     Indicated  3,737,608     2.04    245,533       3,737,608     2.04    245,533   Pan African Resources plc

               Total      3,839,241     2.17    268,062       3,839,241     2.17    268,062   Pan African Resources plc

Guy Fawkes     Inferred     659,309     9.71    205,904         659,309     9.71    205,904   Pan African Resources plc

Fair Bride     Inferred   7,285,887     2.75    645,078       7,285,887     2.75    645,078   Pan African Resources plc

Dot's Luck     Inferred     942,354     1.66     50,177         942,354     1.66     50,177   Pan African Resources plc

Boa Esperanza  Inferred     327,978     2.96     31,174         327,978     2.96     31,174   Pan African Resources plc

               Total      9,215,527     3.15    932,333       9,215,527     3.15    932,333   Pan African Resources plc

Total Resource Measured   1,044,935     3.30    110,885       1,044,935     3.30    110,885   Pan African Resources plc

               Indicated  3,839,241     2.17    268,062       3,839,241     2.17    268,062   Pan African Resources plc

               Inferred   9,215,527     3.15    932,333       9,215,527     3.15    932,333   Pan African Resources plc
               Total     14,099,703     2.89  1,311,280      14,099,703     2.89  1,311,280   Pan African Resources plc

                                        TOTAL RESOURCE SUMMARY PER PROSPECT

Guy Fawkes     Total        760,941     9.34    228,433         760,941     9.34    228,433   Pan African Resources plc

Fair Bride     Total     12,068,430     2.58  1,001,496      12,068,430     2.58  1,001,496   Pan African Resources plc

Dot's Luck     Total        942,354     1.66     50,177         942,354     1.66     50,177   Pan African Resources plc

Boa Esperanza  Total        327,978     2.96     31,174         327,978     2.96     31,174   Pan African Resources plc

                         14,099,703     2.89  1,311,280      14,099,703     2.89  1,311,280   Pan African Resources plc

*Gross - Attributable to the Manica Exclusive Exploration license

*Net attributable - to Pan African Resources plc

Resource calculated by Deon van den Heever of Geologix MRC and audited by Pan
African's competent persons, Graham  Gavine and Garth Mitchell from ExplorMine
Geological Consultants (Pty) Ltd.


For further information on Pan African Resources please visit the website at


Pan African Resources     Ambrian Partners Limited     Parkgreen Communications
Jan Nelson, CEO           Richard Chase                Justine Howarth / Victoria Thomas
+27 11 886 1211           +44 (0)20 7776 6461          +44 (0) 20 7493 3713
Colin Bird, Chairman
+44 (0) 20 7584 2155

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