| Fri 12 Dec 2008, 13:00 | | ARQ - Anooraq - Further Cautionary Announcement |
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ARQ
ARQ
ARQ - Anooraq - Further Cautionary Announcement
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")
FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcements dated 2 October 2008
and 14 November 2008 relating to the purchase by Anooraq from Anglo Platinum
Limited ("Anglo Platinum") of an effective 51% of the Lebowa Platinum Mine
("Lebowa") and an effective 1% controlling interest in each of the Ga-Phasha,
Boikgantsho and Kwanda joint venture projects ("the Transaction"). Shareholders
are advised that Anglo American plc (the majority shareholder of Anglo
Platinum), Anglo Platinum, Anooraq and Pelawan Investments (Pty) Limited (the
majority shareholder of Anooraq) are still engaged in discussions surrounding
the Transaction, as well as its associated financing strategy. Accordingly,
shareholders are advised to continue to exercise caution when trading in Anooraq
securities until such time as a full announcement can be made.
Sandton
12 December 2008
Corporate adviser and sponsor to Anooraq
QuestCo
Transaction advisers to Anooraq
North Corporate Finance Advisory Services
Standard Bank
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.
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
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.
Date: 12/12/2008 13:00:19 Produced by the JSE SENS Department.
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