Appointment of financial director MERAFE RESOURCES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/003452/06) Share Code: MRF ISIN: ZAE000060000 (“Merafe” or the “Company”) APPOINTMENT OF FINANCIAL DIRECTOR In terms of paragraph 3.59 of the JSE Limited Listings Requirements, Merafe shareholders are advised that Mr Ditabe Chocho has been appointed as financial director (“FD”) of the Company, effective 1 August 2018. Mr Chocho is a qualified South African Chartered Accountant and he has extensive experience in financial and investment management gained during his tenure at various companies including Zico Capital (Pty) Ltd, Aflease Gold and Uranium Limited and Transnet SOC. He served as chief financial officer of MultiChoice Africa (Pty) Ltd (“MultiChoice”) and subsequently served as chief financial officer and chief operating officer of DSTV Online, a division of MultiChoice in 2012. Thereafter Mr Chocho served as FD of the Company during the period 2 January 2013 to 31 December 2014. Following his departure from the Company Mr Chocho served as chief financial officer at Fraser Alexander (Pty) Ltd. Ms Kajal Bissessor will continue to serve her notice period in an advisory capacity until 31 August 2018 to ensure a seamless transition and handover process of the FD responsibilities to Mr Chocho. The board of directors welcomes back Mr Chocho and wishes him well in his role at Merafe. Sandton 2 July 2018 Sponsor One Capital Date: 02/07/2018 10:18:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.