Name of the Project
Elikhulu gold tailings retreatment project.

Location
The project is located at Pan African Gold’s Evander mine, in Mpumalanga, South Africa.

Client
Pan African Gold.

Project Description
Elikhulu has total mineral resource of 178.7-million tonnes at 0.29g/t, with a life-of-operation of about 14 years and 1.7-million ounces of contained gold.

The project will potentially treat slimes at a processing capacity of up to 12-million tonnes a year, at a head grade of 0.29 g/t from the Winkelhaak, Leslie and Kinross tailings storage facilities.

Jobs to be Created
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
The project has been estimated at R1.7-billion.

Duration
Not stated.

Latest Developments
Pan African has mandated DRA Projects to complete a definitive feasibility study (DFS) on the project.

The results of the study will be available in November 2016, at which time a decision on whether to progress with the project will be made.

Key Contracts and Suppliers
DRA Projects (DFS).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Pan Africa Gold, Leandra Fox, tel + 27 11 243 2900, fax + 27 11 880 1240 or email Leandra@paf.co.za.