February 18, 2008                                                                                     TSX.V: PAF

                                                                                                                  FRANKFURT: P2A

LATEST CORE DRILL RESULTS FROM PAN AFRICAN’S TRANOMARO URANIUM PROJECT CONFIRM FURTHER EXPANSION OF THE ZONE:  RESULTS INCLUDE 6.0 M OF 3.44 LBS/SH.T U₃O₈ (0.15% U)

VANCOUVER, British Columbia – PAN AFRICAN MINING CORP. (the “Company”) is pleased to announce that assay results from two more drill holes completed in late 2007 on its Tranomaro Uranium Project in the South-East of Madagascar have now been received from ALS Laboratory Group in Vancouver.   These holes are part of Phase 1 of the core drilling program which was commenced last year.  11 holes have now been completed to a typical depth of 70-130 m at old French Mine No. 37.  The current drill program is presently focused on exploration of one of several highly mineralized priority target areas within the 206 squares held by the Company in the Tranomaro region, covering an aggregate license area of approximately1287 sq. km.

Assays from the latest two holes reported show significant Uranium mineralization up to 0.15 % U, which can be traced below the old Mine No. 37 and to the West of it. Mineralization there has been confirmed so far in core drill holes to a depth of up to 100 m. Mine 37 was in operation by the French Commissariat a L’Energie Atomique (“CEA”)  through the late 1950’s, focusing on extraction of U from several of the high-grade readily minable surface deposits in the area. The Uranium typically occurs in this region as uranothorianite in bands of pyroxenite.  The French chemically treated the ore to separate out the U in order to supply its nuclear power industry at home.  The Company views the region as offering great potential due to the more than 100 targets which have now been identified, including both high-grade anomalies which remain unexploited by the French as well as large lower-grade deposits which were typically ignored in the 1950’s era. 

The following tables present selected Uranium assay results from mineralized intersections of the most recent two drill holes reported. Previously, 9 core holes were drilled in a North – South line parallel to the face of the old French Mine 37. Those holes were spaced at 30 m intervals and cover an extent of approximately 240 m length N-S.   All of those holes yielded significant Uranium values and the Company is now drilling another line of holes 20 m to the West in a line parallel to the first one, searching for extension of the mineralized pyroxenite horizon. The N-S spacing of 30 m and the drill hole inclination of 55° to the E was maintained as applied in the first line. The two new drill holes confirm the down-dip continuation of the mineralized strata to the West.  The size of the highly mineralized lens is bounded only to the East, remaining open in the N-S direction as well as to the West, and at depth. 

TABLE OF SELECTED DRILL RESULTS

The results to date are most encouraging and continue to expand the size of the U-bearing zone in and around old French Mine No. 37.  They signal that our Uranium exploration team has refined their understanding of the regional and local geology as well as the ore petrology to such an extent that the field work can be accelerated in pace and very target orientated. The evaluation by our field team of more than one hundred abandoned open pit Uranium mines and radiometric and geochemical anomalies is ongoing and enables us to select promising drill targets efficiently and quickly. A small, portable drill rig is used for scout drilling of shallow holes. The heavy Atlas-Copco CS-14, capable of reaching far below 500 m depths, is positioned where our team has identified potentially important anomalies or mineralized shoots. Besides continuing at Mine 37, upcoming targets for the big drill will be in the vicinity of Mines 52 to 56, N of Tranomaro.

While the Company is directing the exploration work, the Atlas Copco CS-14 in use at Tranomaro is operated by L’Office des Mines Nationales et des Industries Strategiques (“OMNIS”), a Malagasy State Agency. OMNIS is the Company’s Joint Venture Partner on the Tranomaro Uranium Project, which is 80% owned by the Company. The program is managed by Dr. Reinhard Ramdohr, Senior Geologist and Mining Engineer, a Qualified Person within the meaning of N.I. 43-101. He is assisted by the experienced Team Manager Marcel Rasolofonirina and a highly skilled crew of fourteen Malagasy geologists, geophysicists and technicians. Gregory B. Sparks, P.Eng. a Qualified Person under N.I. 43-101 and Director of the Company providing overall project oversight.

Sample preparation, recording, quality control, handling and shipping are done by the Company’s lab in Antananarivo. This work is supervised by Ardito Martohardjono, Vice-President of Laboratory Services and a Director of the Company.  The chemical analytical work is performed by ALS Laboratory Group of Vancouver, B.C., utilizing their Uranium Package Code ME-MS61U, a 48 element near total digestion ICP procedure.  Overlimits for the foregoing procedure are re-analyzed using ALS procedure U-XRF10.

According to Irwin Olian, CEO of the Company, “It is gratifying to see continued progress reflected in results from our initial core drilling program at Tranomaro.  We are well on our way toward delineating a meaningful resource at old Mine 37 and look forward to drilling additional regional sites as well in the coming months. U prices have been in the range between $75 and $100 per lb/ U₃O₈ for over six months, and could be subject to further upward pressure in the near future.  We note that the reported number of planned and proposed Nuclear Power Plants worldwide has increased by 94 during the year 2007, from 222 to 316, according to Swiss ‘Finanz und Wirtschaft.’  This is a dramatic increase that could spell further price gains for U going forward, notwithstanding general fears about a possible slowing of the world’s economy.  In line with our bullish assessment for the U industry, we are now accelerating exploration of two of our other U projects in Madagascar, Folakara and Antsirabe, as well as continuing with our major drilling and exploration program at Tranomaro.” 

About Pan African Mining Corp.

The Company is an exploratory resource company with approximately 7,500 sq. km. of diversified mineral properties and 5,000 sq. km. of uranium properties in Madagascar. The Company is exploring these properties for uranium, gold, coal, precious stones, base metals and industrial commodities. In addition, the Company is exploring two large regions for gold and metals in Mozambique under agreements with other companies. It also has approximately 5500 sq. km. of Diamond licenses in Botswana which it is presently exploring. Its operations in Madagascar are carried out through its operating subsidiary, PAM Madagascar Sarl, and its uranium activities are carried out through its 80% owned subsidiary PAM Atomique Sarl. The Company has offices in Vancouver, Canada and Antananarivo, Madagascar. More information about the Company is available at www.panafrican.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF
PAN AFRICAN MINING CORP.

“Irwin Olian”                        
Irwin Olian
Chairman & CEO

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