Change of Nomad and Joint Broker

5 April 2012 Pan African Resources plc (Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000) Share code on AIM: PAF / JSE: PAN ISIN: GB0004300496 (`Pan African' or ` the Company') Change of Adviser The Board of Pan African, the Africa focussed precious metals producer, is pleased to announce the appointment of Canaccord Genuity Limited as Nominated Adviser and Joint Broker and finnCap Ltd. as Joint Broker to the Company with immediate effect. For further information on Pan African, please visit the website at www.panafricanresources.com. Enquiries UK South Africa Pan African Resources Canaccord Genuity Limited - Nomad and Joint Broker Jan Nelson, Chief Executive Officer John Prior / Sebastian Jones / Joe Weaving +27 (0) 11 243 2900 +44 (0)20 7523 8350 One Capital finnCap Ltd - Joint Broker Sholto Simpson / Megan Young / Elizabeth Johnson / Joanna Weaving Nicholas Tyler +44 (0) 20 7220 0500 +27 (0) 11 550 5000 Vestor Investor Relations St James's Corporate Services Limited Louise Brugman Phil Dexter +27 (0) 11 787 3015 +44 (0) 20 7499 3916 Gable Communications Justine James +44 (0) 20 7193 7463 / +44(0) 7525 324431