Pan African Resources Plc (AIM:PAF) Starts acquisition negotiations

The Company is pleased to announce that it has entered into exclusive negotiations with the joint administrators of ASA Resource Group Plc (the “Group”) in relation to acquiring certain of the assets and liabilities of the Group (“the Acquisition”), which if successfully concluded may have a material effect on the price of the Company’s securities. Discussions are ongoing and as such there can be no certainty the Acquisition will conclude.

Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a full announcement has been made, or this cautionary has been withdrawn.

A further announcement will be made in due course.

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