Pan African Resources plc (JSE:PAN) News - Pan African Resources initiates gold exploration programme in the Republic of the Sudan

Pan African Resources PLC
(Incorporated and registered in England and Wales under the 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”)


PAN AFRICAN RESOURCES INITIATES GOLD EXPLORATION PROGRAMME IN THE REPUBLIC OF THE SUDAN

Pan African is pleased to advise shareholders that the Group has secured five prospecting concessions
(or exploration licences) in north-eastern Sudan (the Block 12 concessions), covering an area of almost
1,100km2 and located approximately 70km northwest of Port Sudan. The Group was awarded the
licences by Sudan’s Ministry of Minerals for a period of three years, with the option to renew for a
further two years.

Further details on the Block 12 concessions are as follows:

    -   Exploration rights to five individual highly prospective areas were obtained in the Arabian-
        Nubian Shield (ANS) and more specifically the Nakasib Suture Zone (NSZ). These blocks
        comprise Block 12A and B (394km2); Block 12D (189km2); Block 12E (298km2) and Block 12K
        (200km2)
    -   The concessions are located within close proximity to Port Sudan, a regional trading and
        shipping hub
    -   Block 12 and the regional area contains a large number of artisanal workings and gold tolling
        operations
    -   14 rock samples obtained during site reconnaissance yielded an average grade of 13.6g/t, as
        depicted in the table below:

                           Sample ID     Type        Lithology     Au (g/t)
                           I8201         Rock        Quartz vein        0.1
                           I8202         Rock        Quartz vein        1.2
                           I8203         Rock        Phyllite           0.2
                           I8204         Rock        Quartz vein        0.9
                           I8205         Rock        Quartz vein        0.0
                           I8206         Rock        Quartz vein     www.panafricanresources.com




Corporate information

Corporate office                                 Registered Office

The Firs Office Building                         Suite 31

2nd Floor, Office 204                            Second Floor

Corner Cradock and Biermann Avenues              107 Cheapside



                                                                                                         
Rosebank, Johannesburg                           London

South Africa                                     EC2V 6DN

Office: + 27 (0) 11 243 2900                     United Kingdom

info@paf.co.za                                   Office: + 44 (0) 20 7796 8644

Chief executive officer                          Financial director

Cobus Loots                                      Deon Louw

Office: + 27 (0) 11 243 2900                     Office: + 27 (0) 11 243 2900

Head: Investor relations                         Website: www.panafricanresources.com
Hethen Hira
Tel: + 27 (0)11 243 2900
E-mail: hhira@paf.co.za

Company secretary                                Nominated Adviser and Joint Broker

Phil Dexter/Jane Kirton                          Ross Allister/Alexander Allen

St James's Corporate Services Limited            Peel Hunt LLP

Office: + 44 (0) 20 7796 8644                    Office: +44 (0) 20 7418 8900

JSE Sponsor                                      Joint Broker

Ciska Kloppers                                   Thomas Rider/Nick Macann

Questco Corporate Advisory Proprietary Limited   BMO Capital Markets Limited

Office: + 27 (0) 11 011 9200                     Office: +44 (0) 20 7236 1010




                                                                                        

Date: 14-03-2022 08:57:00
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