REG-Pan African Resources Plc: Renewal of Barberton Mines' Mining Rights

Pan African ResourcesAnnouncement

03/06/2021 07:00

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

Share code on JSE: PAN

ISIN: GB0004300496

ADR ticker code: PAFRY

(Pan African or the Company or the Group)

RENEWAL OF BARBERTON MINES’ MINING RIGHTS

Pan African is pleased to inform shareholders that the South African
Department of Mineral Resources and Energy (DMRE) has granted the renewal of
the Company’s Barberton Mining Rights for a period of 30 years.

Official notification of the grant of the renewal in terms of section 24 of
the Mineral and Petroleum Resources Development Act, 2002 (Act 28 of 2002)
(MPRDA) was received by the Group on 1 June 2021, and comprises renewals of
the mining rights for the Fairview, New Consort and Sheba Mines (all of Pan
African’s Barberton mining rights).

The renewal applications submitted by the Company included detailed technical
reports and mine works programmes that support mining at the Barberton
operations for the 30-year renewal period.

Pan African CEO Cobus Loots commented:

“Our exploration and mining teams at Barberton have made exceptional
progress over the past years, applying modern exploration, development and
mining techniques to increase underground gold production and the lives of our
mining operations. We view the granting of the mining right renewals by the
DMRE for a 30-year period as an endorsement of our efforts and operations.

As one of the largest employers in the Barberton area, Pan African has
invested significantly in, and will continue to invest in community and ESG
initiatives, including community infrastructure and large scale agriculture
projects that improves the lives of our stakeholders and the economic
sustainability of the region.”   

The information contained in this update is the responsibility of the Pan
African board of directors and has not been reviewed or reported on by the
Group’s external auditors.

Rosebank

3 June 2021

This announcement contains inside information.

For further information on Pan African and its ESG initiatives, please visit
the Company's website at www.panafricanresources.com

 Contact information                                                                                                                                                                                                                                                                                  
 Corporate Office The Firs Office Building 2nd Floor, Office 204 Cnr. Cradock and Biermann Avenues Rosebank, Johannesburg South Africa Office: + 27 (0)11 243 2900 info@paf.co.za  Registered Office Suite 31 Second Floor 107 Cheapside London EC2V 6DN United Kingdom Office: + 44 (0)20 7796 8644  
 Cobus Loots Pan African Resources PLC Chief Executive Officer Office: + 27 (0)11 243 2900                                                                                         Deon Louw Pan African Resources PLC Financial Director Office: + 27 (0)11 243 2900                                 
 Phil Dexter/Jane Kirton St James's Corporate Services Limited Company Secretary Office: + 44 (0)20 7796 8644                                                                      Ross Allister/David McKeown Peel Hunt LLP Nominated Adviser and Joint Broker Office: +44 (0)20 7418 8900           
 Ciska Kloppers Questco Corporate Advisory Proprietary Limited JSE Sponsor Office: + 27 (0)11 011 9200                                                                             Thomas Rider/ Nick Macann BMO Capital Markets Limited Joint Broker Office: +44 (0)20 7236 1010                     
 Hethen Hira Pan African Resources PLC Head: Investor Relations Tel: + 27 (0)11 243 2900 E-mail: hhira@paf.co.za                                                                   Website: www.panafricanresources.com                                                                               



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