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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                                                   
                                                      ("Harmony")              
            ("Pan African")                                                    
    PAN AFRICAN'S ACQUISITION OF EVANDER GOLD MINES LIMITED ("EVANDER") FROM    
                 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
www.panafricanresources.com

HARMONY ENQUIRIES:

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
www.harmony.co.za



END

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

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