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AMS
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Anglo Platinum Limited - Anooraq-Anglo Platinum: Ga-Phasha Pgm Project Update
Anglo Platinum Limited
Incorporated in the Republic of South Africa
Registration No.: 1946/022452/06
JSE Ordinary Share Code: AMS
ISIN: ZAE000013181
("Anglo Platinum")
Anooraq Resources Corporation
ANOORAQ-ANGLO PLATINUM: GA-PHASHA PGM PROJECT UPDATE
April 26, 2006 -Anglo Platinum Limited ("Anglo Platinum") and Anooraq Resources
Corporation ("Anooraq") are pleased to announce that the programme on the Ga-
Phasha Platinum Group Metals ("PGM") Project, announced on 14 December 2005, has
been completed. The programme is currently being reviewed with the objective of
determining the necessary studies and timetable thereafter. It is expected that
the review will be completed by the end of the second quarter of 2006 following
which the further studies and timetable for a bankable feasibility study will be
agreed.
Anglo Platinum has agreed in principle to undertake, on commercial terms and
subject to regulatory approvals, a financing into Anooraq, which will be limited
to a maximum of USD10 million. The majority of the proceeds from the financing
will be utilized by Anooraq to advance the Ga-Phasha project to bankable
feasibility study in line with Anooraq"s objective of becoming a substantial PGM
production company. Details of the financing structure and timing will be made
available once finalized and once regulatory approvals are in place.
ISSUED BY: ANGLO PLATINUM AND ANOORAQ
For further information please contact
Trevor Raymond at Anglo Platinum Phumzile Langeni at Anooraq Resources
+2711 373 6462 +2711 883 0831
+2782 6548467 +2783 745 5834
ISSUED ON BEHALF OF THE BOARD OF DIRECTORS OF ANOORAQ BY
Tumelo Motsisi
Managing Director and Deputy CEO
Anooraq Resources Corporation
Note regarding the Ga-Phasha Project:
The Ga-Phasha Project, a 50:50 joint venture between Anglo Platinum and Anooraq,
is located on the North Eastern Limb of the Bushveld Complex, 250 kilometres
northeast of Johannesburg in South Africa.
Note regarding Anooraq:
The TSX Venture Exchange and the American Stock Exchange have neither approved
nor disapproved the contents of this press release.
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 ("the Company")
expects are forward-looking statements. Although the Company 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, 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 the
Company, Investors should review the Company"s annual Form 20-F filing with the
United States Securities Commission and its home jurisdiction filings that are
available at www.sedar.com.
Sponsor to Anglo Platinum
Merrill Lynch South Africa (Pty) Limited
Date: 26/04/2006 01:33:05 PM Produced by the JSE SENS Department
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