Anooraq Resources Corporation: Drilling Continues to Confirm Major PGM-Nickel-Copper Discovery on Anooraq's Rietfontein Farm, South Africa.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 23, 2002

Ronald W. Thiessen, President and CEO of Anooraq Resources Corporation (OTC BB:ARQRF)(TSX VENTURE:ARQ) is pleased to announce assay results from drill holes AR 6 and AR 7 cored on its Rietfontein property, located on the northern limb of the Bushveld Complex, South Africa. The results from AR 6 and AR 7 continue to confirm the discovery of a large scale, PGM-Nickel-Copper deposit which may be amenable to low cost, open pit mining and bulk tonnage processing. Assay results received to date (holes AR 1, 2, 3, 6, and 7) are tabulated below. Core samples from holes AR 4, 5, and 8 through 25 are in the assay laboratory and will be reported when they are received.

                       RIETFONTEIN ASSAY RESULTS
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Hole           From      To Interval     PGM(1)   Ni    Cu      IMV(2)
Number           (m)     (m)      (m)  g/tonne    (%)   (%) $US/Tonne
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AR001         19.83   30.78    10.95      1.00  0.23  0.15      30.67
AR001         50.53   66.15    15.62      1.56  0.30  0.22      44.55
AR001 Within  19.83   66.15    46.32      0.84  0.18  0.12      25.23
AR002         19.61   43.77    24.16      0.62  0.27  0.16      28.89
AR002         80.34   85.35     5.01      1.04  0.27  0.13      34.31
AR002         91.32   95.39     4.07      1.17  0.57  0.35      59.28
AR002        107.34  155.81    48.47      0.99  0.25  0.23      33.29
AR002 Within  19.61  155.81   136.20      0.64  0.19  0.15      23.66
AR003         41.88   48.87     6.99      0.26  0.30  0.21      26.89
AR003         69.21   91.02    21.81      0.52  0.23  0.20      26.01
AR003        112.83  122.61     9.78      1.94  0.28  0.34      50.43
AR003        130.08  210.25    80.17      0.66  0.23  0.22      27.70
AR003 Within  33.93  210.25   176.32      0.58  0.19  0.18      23.62
AR006         30.84   43.19    12.35      0.80  0.38  0.19      40.33
AR006         46.18   55.17     8.99      1.00  0.34  0.22      40.00
AR006         60.84   66.05     5.21      1.53  0.81  0.48      85.39
AR006         73.77   77.07     3.30      1.45  0.42  0.30      52.30
AR006 Within  30.84   77.07    46.23      0.75  0.31  0.19      34.30
AR007         73.23   85.73    12.50      0.91  0.24  0.17      31.46
AR007        118.26  162.93    44.67      0.90  0.33  0.26      38.34
AR007 Within  73.23  162.93    89.70      0.74  0.24  0.19      29.48
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(1) PGM = Platinum + Palladium + Gold
(2) IMV = In-Situ Metal Value. Gross in-situ metal value dollar
          amounts are provided for the reader's convenience to
          facilitate comparison of the polymetallic nature of the
          mineralization. These gross in-situ amounts do not take into
          consideration mining and processing costs and have no
          economic significance. The gross in-situ dollar values have
          been calculated using the following commodity prices:
          Pt=US$520/oz; Pd=US$360/oz; Au=US$310/oz; Ni=US$3.10/lb;
          Cu=US$0.75/lb.

To date, 25 vertical core holes have been drilled on the Rietfontein property along a 1750 metre southeast trending strike length of the favourable Platreef horizon. Significant disseminated, net textured and massive sulphide-bearing intervals have been encountered in most of the Platreef intersections drilled to date. Assay results have been received for drill holes AR 1, 2, 3, 6 and 7 which are widely spaced along approximately 800 metres of the Platreef strike length. For the intervals announced the platinum:palladium ratio is approximately 0.5:1 and the platinum:gold ratio is approximately 2.5:1.

The combination of very consistent grades of principally nickel, PGM and copper over substantial widths at shallow depth indicates the discovery of a mineral deposit that is potentially amenable to large-scale, low cost open pit mining and processing to produce bulk concentrates for shipment to smelters. This "bulk tonnage" style of mining operation is common in North and South America and parts of Asia for exploiting large open-pitable deposits, at throughput rates ranging from 25,000 to 125,000 tonnes per day and more. For example, huge quantities of metal concentrates are produced from porphyry copper-molybdenum-gold deposits. However, more and more PGM and nickel deposits are also being developed as low cost open pit operations. Potgietersrust Platinums' Sandsloot mine is a 12,000 tonnes per day open pit operation located ten kilometres northwest of the Rietfontein property. In addition, North American Palladium's Lac des Iles mine in Ontario, Canada is an open pit operation, currently ramping up to 15,000 tonnes per day. Mineral reserve grades at the Lac des Iles mine are palladium (1.53 g/t), platinum (0.17 g/t), gold (0.12 g/t), nickel (0.05%), and copper (0.06%) which, for comparison purposes, has an in-situ metal value of US$26/t when the same metal prices noted above are utilized.

The 2900 hectare Rietfontein property forms part of Anooraq's extensive (39,000 ha) mineral tenure on the prolific northern limb of the Bushveld Complex. Under terms of an option agreement, African Minerals Ltd. is earning a 50% interest in the Rietfontein farm. Rietfontein is adjacent to and contiguous with African Mineral's Turfspruit farm immediately to the west where up to 12 rigs have been drilling since January, 2002. The strongly mineralized Platreef horizon, which hosts giant PGM-Nickel-Copper deposits in the region, straddles the common boundary of the two farms. Potgietersrust Platinums, a subsidiary of Anglo Platinum, holds the property that lies to the north of Rietfontein; it hosts Sandsloot and seven other deposits containing about 68 million ounces of platinum group elements plus gold in about 500 million tonnes of reserves and resources (Anglo Platinum 2000 Annual Report).

For photographs of core, drill hole, location maps and other details on Anooraq's Platreef Project, please visit the Company's website at www.hdgold.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Ronald W. Thiessen, President & CEO

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 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, 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 that 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 and its home jurisdiction filings that are available at www.sedar.com.

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