Anooraq Resources Corporation
TSX VENTURE : ARQ
AMEX : ANO
JSE : ARQ

Anooraq Resources Corporation

October 02, 2007 18:53 ET

Anooraq Announces Appointment of Managing Director-Operations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 2, 2007) - Anooraq Resources Corporation ("Anooraq" or the "Company") (TSX VENTURE:ARQ)(AMEX:ANO)(JSE:ARQ) announces that Nicholas James, Pr.Eng., has been appointed as the Managing Director - Operations of the Company, effective October 1, 2007. This appointment is in accordance with Anooraq's stated objective to bolster its technical team in South Africa, pursuant to implementation of its recently announced transactions with Anglo Platinum and its transformation from an exploration/development company into a substantial operating company.

Mr. James is a mining engineer with over 25 years of experience in the mining industry in Southern Africa, including mines and projects in South Africa, Zambia and Tanzania. His operational experience includes developing and managing a range of mineral deposits, including Witwatersrand and Archean gold deposits, massive copper and pyrite deposits and, more recently, narrow tabular platinum ore bodies on the northeastern limb of the Bushveld Complex.

Most recently, Mr. James was the Business Leader (General Manager) of the Modikwa Platinum Mine, operated as a 50:50 joint venture between Anglo Platinum and African Rainbow Minerals (ARM), and located on the northeastern limb of the Bushveld Complex. Mr. James' accomplishments at Modikwa included improvements in safety performance and relationships between the mine management, workforce and local communities. Prior to that he spent six years with Konkola Copper Mines in Zambia, as the Mine Manager of the Nampundwe Mine and then the Konkola Mine where he managed the transition of mine ownership and successfully advanced projects to increase reserves, modernize operations and improve productivity.

Mr. James has also worked as a mining consultant and was involved in preliminary through to feasibility level studies for mining projects in South Africa, Tanzania and Zambia. From his graduation in 1980 to 1993, he largely worked at gold operations in South Africa, advancing from a mine trainee in 1981 to a Mine Overseer in 1983, and to Section Manager and Mine Manager at Anglo American's Freegold operations from 1986-1992.

A graduate of the University of Witwatersrand with a Bachelor of Science in Engineering, he has post graduate diplomas in mine management, mineral economics, industrial relations and executive development. He is also a registered professional engineer in South Africa.

Acting President and CEO, Tumelo Motsisi, said: "We are very pleased that Nick James has joined Anooraq. He has an excellent background in mine operations and is also a skilled communicator with a genuine interest in employee and community relations. Mr. James will play a key role as the Company acquires an interest in the Lebowa Platinum Mine and advances the development of the Ga-Phasha and Boikgantsho platinum group metals projects. On behalf of the board of directors, I would like to welcome him to the management team."

Anooraq Resources Corporation is engaged in the exploration and development of platinum group metals (PGM) properties in the Bushveld Complex of South Africa, with a goal to become a significant PGM producer. Its assets include a 50% interest in the Ga-Phasha, the Boikgantsho and the Kwanda JV Projects. The Company has also recently announced a transaction with Anglo Platinum to acquire 51% of the Lebowa Platinum Mine, and increase its interest in the Ga-Phasha, Boikgantsho and Kwanda Projects to 51% that, when completed, will transform Anooraq into the world's third largest platinum company in terms of mineral resources.

For further information on Anooraq and its PGM properties, please visit the Company's website www.anooraqresources.com or call investor services at 604-684-6364 or toll free in North America at 1-800-667-2114.

On behalf of the Board of Directors

Tumelo Motsisi, Acting President and CEO

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 future production, reserve potential, exploration drilling, exploitation activities and events or developments that Anooraq expects are forward-looking statements. Although Anooraq believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the 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 more information on Anooraq, Investors should review the Company's annual Form 20-F filing with the United States Securities and Exchange Commission and its home jurisdiction filings that are available at www.sedar.com.

The TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Anooraq Resources Corporation
    Shawn Wallace
    Investor Services
    (604) 684-6364 or Toll Free: 1-800-667-2114
    (604) 684-8092 (FAX)
    Website: www.anooraqresources.com