Following the operational update released on 2 March 2018, Pan African is pleased to provide further information on the Group’s operations and growth projects. Key points can be summarised as follows:

• Barberton Mines is on track to produce approximately 50,000oz of gold in the second half of the 2018 financial year, an increase of

OPERATIONAL UPDATE

Further to the operational update released on 1 February 2018, Pan African is pleased to provide further information on progress at the Fairview 11-block Main Reef Complex (“MRC”) orebody and the Barberton Tailings Retreatment Plant (“BTRP”), as well as updated guidance on the commencement of production from the Elikhulu Tailings Retreatment Plant (“Elikhulu”).

Barberton Mines