Anpario Regulatory News (ANP)

26 Apr 2006 16:00

Anglo Platinum Limited26 April 2006 Issuer Long Name : Anglo Platinum Limited Registration No. : 1946/022452/06 Instrument Alpha Code/Ticker Symbol : AMS ISIN : ZAE000013181 ANOORAQ-ANGLO PLATINUM: GA-PHASHA PGM PROJECT UPDATE April 26, 2006 -Anglo Platinum Limited ("Anglo Platinum") and Anooraq ResourcesCorporation ("Anooraq") are pleased to announce that the programme on theGa-Phasha Platinum Group Metals ("PGM") Project, announced on 14 December 2005,has been completed. The programme is currently being reviewed with the objectiveof determining the necessary studies and timetable thereafter. It is expectedthat the review will be completed by the end of the second quarter of 2006following which the further studies and timetable for a bankable feasibilitystudy will be agreed. Anglo Platinum has agreed in principle to undertake, on commercial terms andsubject to regulatory approvals, a financing into Anooraq, which will be limitedto a maximum of USD10 million. The majority of the proceeds from the financingwill be utilized by Anooraq to advance the Ga-Phasha project to bankablefeasibility study in line with Anooraq's objective of becoming a substantial PGMproduction company. Details of the financing structure and timing will be madeavailable 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 kilometresnortheast of Johannesburg in South Africa. Note regarding Anooraq: The TSX Venture Exchange and the American Stock Exchange have neither approvednor disapproved the contents of this press release. This release includes certain statements that may be deemed "forward-lookingstatements". All statements in this release, other than statements of historicalfacts, 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 theexpectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guarantees of future performanceand actual results or developments may differ materially from those in theforward-looking statements. Factors that could cause actual results to differmaterially from those in forward-looking statements include market prices,exploitation and exploration successes, and continued availability of capitaland financing, and general economic, market or business conditions. Investorsare cautioned that any such statements are not guarantees of future performanceand those actual results or developments may differ materially from thoseprojected in the forward-looking statements. For more information on theCompany, Investors should review the Company's annual Form 20-F filing with theUnited States Securities Commission and its home jurisdiction filings that areavailable at www.sedar.com. This information is provided by RNS The company news service from the London Stock Exchange