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LAST UPDATE: 27 NOVEMBER 2009
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MEDIA CENTRE
Press releases
Anooraq advises of ongoing discussions relating to the Empowerment Transaction with Anglo Platinum
28-01-2009
January 28, 2009 Vancouver, BC ― Anooraq Resources Corporation (“Anooraq” or the “Company”) (TSXV:ARQ; AMEX:ANO; JSE:ARQ) announces that Anglo American plc (the majority shareholder of Anglo Platinum), Anglo Platinum, Anooraq and Pelawan Investments (Pty) Limited (the majority shareholder of Anooraq) (“the Parties”) remain engaged in discussions regarding the purchase by Anooraq from Anglo Platinum Limited ("Anglo Platinum") of an effective 51% of the Lebowa Platinum Mine ("Lebowa") and an additional 1% controlling interest in each of the Ga-Phasha, Boikgantsho and Kwanda joint venture projects ("the Transaction"), as well as its associated financing strategy.
Shareholders are also referred to the news releases dated 2 October 2008, 14 November 2008 and 12 December 2008 relating to the Transaction. The Parties’ discussions are progressing well and they remain committed to closing the Transaction by 30 April 2009.
For further information on Anooraq and its South African properties, please visit our website www.anooraqresources.com or call investor services in South Africa at +27 11 883 0831 or in North America at 1 800 667 2114.
On behalf of the Board of Directors
Philip Kotze
President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The American Stock Exchange has neither approved nor disapproved the contents of this press release.
Cautionary and Forward Looking Information
The American Stock Exchange has neither approved nor disapproved the contents of this press release.
Cautionary and Forward Looking Information
This release includes certain statements that may be deemed "forward looking statements". All statements in this release, other than statements of historical facts, that address potential acquisitions, future production, reserve potential, exploration drilling, exploitation activities and events or developments that Anooraq expects are forward looking statements. Anooraq believes that such forward looking statements are based on reasonable assumptions, including assumptions that: the Transaction will complete; Lebowa will continue to achieve production levels similar to previous years; the planned Lebowa expansions will be completed and successful; Anooraq will be able to secure future debt and equity financing on favourable terms; and the Ga- Phasha and Platreef Project exploration results will continue to be positive.
Forward looking statements however, are not guarantees of future performance and actual results or developments may differ materially from those in forward looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, changes in and the effect of government policies with respect to mining and natural resource exploration and exploitation and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward looking statements. For further information on Anooraq, investors should review the Company`s annual information form filed on www.sedar.com or its form 20-F with the United States Securities and Exchange Commission and its other home jurisdiction filings that are available at www.sedar.com.
