Pan African Resources appoints Ron Holding as its new CEO

 – UK, London / SOUTH AFRICA – Pan African shareholders are advised that the Company has appointed Mr Ron Holding, currently Pan African’s Interim Joint CEO, as a director and its CEO with immediate effect. Mr Holding has been intricately involved with all Pan African’s operations since 2009 as Chief Operating Officer, until his appointment as Joint Interim CEO in March this year. Mr Holding commenced his mining career in 1973 with Gencor and has since occupied a number of senior positions, with exposure to the various stages of developing and mining mineral deposits. In addition to deep level gold mining, his vast experience includes the mining of platinum, diamonds and copper.

Shareholders are further advised that Ms Busi Sitole has resigned as the Financial Director of Pan African with effect from 30 September 2013, in order to focus on personal commitments. Mr Cobus Loots will assume the role of Financial Director of the Company from 1 October 2013. Mr Loots, a Pan African director since 2009, is currently the Managing Director of Shanduka Resources, which position he will vacate. Mr Loots is a Chartered Accountant (SA) and also a CFA ® Charterholder. He was also previously the Financial Director of Pan African.

Keith Spencer, Chairman of Pan African commented: “Ron’s in-depth knowledge of Pan African Resources and its operations makes him the ideal fit. His experience positions him to effectively further the Company’s strategy of being a low cost, high margin, precious metals producer, particularly in light of our organic growth plans at Evander and Barberton Mines. Cobus has been a board member for many years and the contribution of his expertise as Financial Director will be highly beneficial to Pan African. On behalf of the board, I would like to thank Busi for her contribution to the Company and we wish her the best in her future endeavours and the new addition to her family.”

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