Anooraq Plans Further Drilling on Bushveld PGM Project.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 7, 2000

Ronald W. Thiessen, President and CEO of Anooraq Resources Corporation (CDNX:ARQ.), is pleased to provide an update on continued exploration of the Company's Platreef platinum group metals (PGM) project, located 275 kilometres north of Johannesburg, South Africa.

The Platreef property is located on the northern limb of the Bushveld Complex, a layered mafic intrusive system, which provides the world's largest PGM production. PGM are hosted in the Platreef horizon, which is stratigraphically equivalent to the prolific Merensky Reef located on the eastern and western limbs of the Bushveld Complex. Platreef mineralization is typically disseminated and much thicker than the Merensky Reef. Anooraq's ground (see attached Property Map) lies immediately adjacent to Anglo Platinum's property that hosts eight deposits including the Sandsloot pit mine, one of the most profitable open pit PGM operations in the world.

Earlier this year, Anooraq completed 35 diamond drill holes over a 4.5 kilometre strike length on the southern part of the Platreef property. All but one hole intersected platinum-palladium-rhodium-gold-bearing horizons with associated copper-nickel mineralization. This program was very successful in identifying three principal target areas for further exploration, described below:

Excellent results were encountered at the western limit of the present drilling on the Drenthe farm (previously released and reported here in combined PGM (plus) gold). Intersections include hole 13 (46 m grading 1.60 g/t including 6 m grading 4.61 g/t); hole 14 (35 m grading 2.16 g/t including 5.5 m grading 5.62 g/t); hole 17 (48 m grading 1.61 g/t); hole 20 (21 m grading 2.53 g/t including 5.0 metres grading 4.26 g/t); hole 21 (45 m grading 1.79 g/t) and hole 24 (22 m grading 2.00 g/t). The simplified grade/thickness contour map of this area (see attached Schematic Grade x Thickness Map) shows that mineralization increases in thickness and grade down-dip to the west. In addition, a diamond drill hole completed one kilometre west of the Overysel deposit on Anglo Platinum's property intersected 50 m grading in excess of 5 g/t PGM. This nearby intersection also implies strong prospectivity down-dip and to the west of Anooraq's current Drenthe drilling.

Seven kilometres of the Platreef strike length remain to be drill tested on the northern portion of Anooraq's growing land package. On October 13, 2000 an agreement was signed with the Lebowa Minerals Trust to acquire the prospective Malokongskop 780 LR farm extending the area of Anooraq's land package by 1440 hectares overlying the prolific Platreef trend. It is important to note that eight deposits occur along a 20 kilometre strike length of the Platreef on the adjacent Anglo Platinum property. Anooraq believes the chances of discovering new deposits along the northern Platreef are excellent.

A recent soil sampling survey on Rietfontein farm discovered two strong coincident platinum-palladium-copper-nickel soil geochemical anomalies, 1.6 and 1.4 kilometres long, that require drill testing. These anomalies are adjacent to Anglo Platinum's Tweefontein Hill deposit (see Rietfontein Plan and Schematic Section).

A comprehensive drilling program is being planned to test these three target areas at Rietfontein, Drenthe, and north to farms Malokongskop, Dortsland and Elandsfontein. Exploration is managed by the Hunter Dickinson technical team.

For further details on Anooraq Resources Corporation and the Platreef property, please visit our website at www.hdgold.com.

ON BEHALF OF THE BOARD Ronald W. Thiessen, President, CEO and Director

No regulatory authority has approved or disapproved the information contained in this news release.