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Pan African Resources PLC (PAF)

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Monday 14 April, 2008

Pan African Resources PLC

Statement re Dekoa gold project, Central Africa...

Regulatory Announcement                                                        
Company                           Pan African Resources plc                    
TIDM                              PAF                                          
Headline                          Mining Convention: Dekoa gold project,       
                                  Central African Republic                     
Released                          14 April 2008                                

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

Dekoa gold project, Central African Republic ("CAR"): 25 km of mineralised
strike length identified and mining convention signed

Pan African today announced that eight major gold-in-soil anomalies have been
delineated following a stream sediment and infill soil sampling programme on
the Dekoa licence area in the Central African Republic ("CAR"). The Dekoa gold
project represents three exclusive exploration licence areas; Boufoyo, Daya and
Bozoro (collectively "Dekoa gold project"), covering approximately 3,000km2 of
prospective greenstone belt.

The combined strike length of these anomalies is in excess of 25 km, double the
size of the anomaly identified at the Bogoin project 150km to the South-West of
the Dekoa gold project, where a mining convention was signed earlier this year.

As a result of these encouraging results Pan African has together with CARGold
(Pan African's joint venture partner in the CAR) (collectively "JV") concluded
a 25-year mining convention with the Ministry of Mines, Energy and Water
Affairs in the CAR ("State").

The State has agreed to facilitate the exploration and development by the JV of
the Dekoa gold project in the CAR. The JV will pay the State US$ 700,000 in
respect of the rights it has acquired. The first instalment of US$ 200,000 was
payable on signature and the balance due in instalments at various stages of
the development of the Dekoa gold project.

The convention came into effect on 9 April 2008 and is extendible by agreement
between the JV and the State. Once the mining phase is reached the State will
hold a 10% free carry in the Dekoa gold project. The State has provided a
number of concessions and exemptions in respect of taxes, duties and
administrative provisions to the benefit of the company housing the Dekoa gold

Drilling has commenced at the Bogoin gold project with the first reverse
circulation drill rig ("RC") on site. A second RC drill rig will be on site in
three weeks to complete an 18,000m drilling programme as part of the first

Once this programme has been completed, the drill rigs will be moved to the
Dekoa gold project.

Jan Nelson, CEO of Pan African, commented: "The signing of a mining convention
removes uncertainty regarding the funding required should the Dekoa gold
project advance to the mining phase. Our combined gold projects in the CAR
represent close to 37km of potentially mineralised strike length and are we
comfortable with the pace at which these projects are progressing."



Manica gold project, Mozambique: Mining optimisation of the Manica gold project
is progressing well and will be announced as soon as the work has been

Akrokerri gold project, Ghana: Drilling has commenced on the Akrokerri gold
project and the Company is currently drilling its third core hole below the
Akrokerri mine, which historically produced 74,000oz of gold at 24.6 g/t
between 1900 and 1909.

Barberton Exploration: Eagles Nest and Amira gold project, South Africa: Data
compilation has been completed and the Company is currently reviewing the data
to identify suitable drilling targets.

Martin Bevelander, Group Consulting Geologist for Pan African, is SACNASP
(South African Council for Natural Scientific Professions) accredited. The
information in this statement has been reviewed by Mr Bevelander who is a
qualified person for the purposes of the AIM Guidance Note for Mining, Oil and
Gas Companies.

For further information on Pan African Resources plc, please visit the website


Pan African        Ambrian Partners    Macquarie First     St James's         
Resources          Limited             South Corporate     Corporate Services 
                                       Finance (Pty)       Limited            
Jan Nelson, CEO    Richard Brown       Limited                                
                                                           Phil Dexter        
+27 (0) 11 777     +44 (0) 20 7634     Amanda Markman                         
7840               4700                                    +44 (0) 20 7499    
                                       +27 (0) 11 343 2307 3916               
Keith Spencer,     Richard Greenfield                                         
Chairman                               Annerie Britz       FDBeachhead Media &
                   +44 (0) 20 7634                         Investor Relations 
+27 (0) 11 880     4700                +27 (0) 11 343 2328                    
3155                                                       Jennifer Cohen     
Nicole Spruijt                                             +27 (0) 11 214 2401
Public Relations                                           Louise Brugman     
+27 (0) 11 777                                             +27 (0) 11 214 2415

a d v e r t i s e m e n t