| Tue 24 Jun 2008, 15:00 | | ARQ - Anooraq Announces Appointment Of New President And Chief Executive |
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ARQ
ARQ
ARQ - Anooraq Announces Appointment Of New President And Chief Executive
Officer
Anooraq Resources Corporation
(Incorporated in British Columbia, Canada)
(Registration number 10022-2033)
(JSE share code: ARQ & ISIN: CA03633E1088)
(TSXV share code: ARQ & ISIN: CA03633E1088)
(AMEX share code: ANO & ISIN: CA03633E1088)
(`Anooraq` or `the company`)
ANOORAQ ANNOUNCES APPOINTMENT OF NEW PRESIDENT AND CHIEF EXECUTIVE OFFICER
Anooraq announces that Philip Kotze will be appointed as the new President and
Chief Executive Officer of the Company, effective July 1, 2008. This
appointment is in accordance with Anooraq`s stated objective to strengthen its
executive team in South Africa, pursuant to implementation of its recently
announced transaction with Anglo Platinum Limited and its transformation from
an exploration/development company into a substantial operating entity.
Mr Kotze is qualified as a mining engineer and has over 26 years of experience
in the mining industry, including holding operational and executive positions
at AngloGold Limited, Kalahari Goldridge Mining Company Limited and Harmony
Gold Mining Company Limited.
A graduate of the University of Witwatersrand with a Graduate Diploma in
Engineering (Mining Economics), Mr Kotze also holds a National Higher Diploma
in Metalliferous Mining (WITS Technikon) as well qualifications in Industrial
Relations (UNISA) and Management (WITS Business School).
Commenting on Mr Kotze`s appointment, Acting President and CEO, Tumelo
Motsisi, said: "I am excited with the appointment of Philip Kotze as President
and CEO of the Company. Anooraq is now at the juncture of transforming itself
into a platinum group metals producer with very significant new development
projects in Lebowa Platinum Mines as well as exciting prospects such as Ga-
Phasha. In taking Anooraq to this next level in its evolution, Mr. Kotze`s
background, as well as his technical and operational expertise, will play a
vital role in delivering on the mandate from our shareholders. On behalf of
all our shareholders and the board, I would like to welcome him to the
management team".
New President and CEO, Philip Kotze, said: "I am looking forward to the
challenge of building Anooraq into an operating entity. Once our transaction
with Anglo Platinum has been concluded, we are in the fortunate position to
have an operating entity in the Lebowa Platinum mine and the company has an
excellent pipeline of projects in the form of Ga-Phasha, Boikgantsho and
Kwanda, which will form the basis of the growth platform for our future."
Anooraq is engaged in the exploration and development of platinum group metals
("PGM") properties in the Bushveld Complex of South Africa. The Company`s
stated objective is to become a significant PGM producer. Anooraq`s assets
include a 50% interest in the Ga-Phasha, Boikgantsho and 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%.
On behalf of the Board of Directors
Tumelo Motsisi
Acting President and CEO
24 June 2008
Vancouver, BC
Sponsor : QuestCo Sponsors
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.
For further information please contact:
Anooraq (South Africa) +27 11 883 0831
Joel Kesler, Head of Business Development
Anooraq (North America)
Investor Relations +1 604 684 6365
Toll free +1 800 667 2114
Neither the TSX Venture Exchange nor any other regulatory authority accepts
responsibility for the adequacy or accuracy of this 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 Lebowa 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 favorable 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 SEDAR at
www.sedar.com or in form 20-F with the United States Securities and Exchange
Commission and its other home jurisdiction filings that are available at
www.sedar.com.
Date: 24/06/2008 15:00:03 Produced by the JSE SENS Department.
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