PAN AFRICAN RESOURCES PLC: Acquisition of Evander becomes unconditional

PAN AFRICAN RESOURCES PLC: Acquisition of Evander becomes unconditional
Pan African Resources PLC          Harmony Gold Mining Company Limited   
(Incorporated and registered in England   Registration number 1950/038232/06   
  and Wales under Companies Act 1985                                            
                                     Incorporated in the Republic of South 
 with registered number 3937466 on 25                   Africa                  

            February 2000)                                                     
                                                  ISIN: ZAE000015228           
             AIM Code: PAF                                                     
                                                    NYSE code: HMY             
             JSE Code: PAN                                                     
                                                  JSE share code: HAR          
          ISIN: GB0004300496                                                   
            ("Pan African")                                                    
                 HARMONY ("TRANSACTION") BECOMES UNCONDITIONAL                 

Pan African and Harmony are pleased to advise their shareholders that the last
remaining condition precedent to the Transaction has been fulfilled following
receipt of the consent required in accordance with section 11 of the Mineral
and Petroleum Resources Development Act, No. 28 of 2002.

Accordingly, the Transaction is now unconditional.

Pan African shall assume effective control over Evander on 28 February 2013.

Jan Nelson, CEO of Pan African said:

"We are delighted to finally take full control of Evander - a world class ore
body and exceptional team of people will ensure that Pan African continues to
deliver profitable, sustainable stakeholder growth. In addition to the 100koz
of annual gold production, Evander also provides Pan African with a project
pipeline that provides for significant growth possibilities and flexibility.

I would like to thank Harmony on behalf of the board of Pan African for the
manner and spirit in which the transaction was concluded. We welcome the
Evander team and look forward to an exciting future."

Graham Briggs, CEO of Harmony said:

"The proceeds from the Evander sale further strengthen Harmony's cash position.
We are leaving Evander in the hands of a capable management team, who we
believe will run the mine in a sustainable manner."

15 February 2013

Lead Corporate Adviser, Transaction       Corporate Adviser to Harmony         
Sponsor and JSE Sponsor to Pan                                                 
African                                   Merrill Lynch South Africa           

One Capital                                                                     
Joint Corporate Adviser and               Sponsor to Harmony                   
Independent Transaction Sponsor to                                             
Pan African                               J. P. Morgan Equities South Africa    
                                      (Pty) Ltd                            
Nedbank Capital                                                                 
Legal Counsel to Pan African              Legal Counsel to Harmony              
Werksmans Inc.                            Edward Nathan Sonnenbergs Inc.        
PAN AFRICAN ENQUIRIES                UK                                         
South Africa                                                                    
Pan African Resources                Canaccord Genuity Limited - Nomad and      
                                 Joint Broker                              
Jan Nelson, Chief Executive Officer                                             
                                 Rob Collins / Peter Stewart / Sebastian   
+27 (0) 11 243 2900                  Jones / Joe Weaving                        

                                     +44 (0) 20 7523 8350                      

One Capital                          finnCap Limited - Joint Broker             
Sholto Simpson / Megan Young         Elizabeth Johnson / Joanna Weaving         
+27 (0) 11 550 5000                  +44 (0) 20 7220 0500                       
Vestor Investor Relations            St James's Corporate Services Limited      
Louise Brugman                       Phil Dexter                                
+27 (0) 11 787 3015                  +44 (0) 20 7499 3916                       
+27 83 504 1186                                                                 

                                     Gable Communications                      
                                     Justine James                             
                                     +44 (0) 20 7193 7463 / +44 (0) 7525 324431

For further information on Pan African, please visit the website at


Henrika Basterfield

Investor Relations Officer

+27 (0) 82 759 1775 (mobile)

Marian van der Walt

Executive: Corporate and Investor Relations

+27 (0) 82 888 1242 (mobile)

For further information on Harmony, please visit the website at


-0- Feb/15/2013 08:00 GMT

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