Anooraq Resources Corporation ("Anooraq" or the "Company") (TSX VENTURE: ARQ)(AMEX: ANO)(JSE: ARQ) is pleased to announce the completion and results of the technical review of Lebowa Platinum Mines ("Lebowa") which was undertaken as part of the due diligence associated with a transaction with Anglo Platinum Limited ("Anglo Platinum") (see September 4, 2007 news release).

Pursuant to the preliminary transaction agreements announced in September 2007, Anglo Platinum will sell to Anooraq an effective 51% of Lebowa (currently 100% owned by Anglo Platinum), and an additional 1% interest in each of the advanced exploration stage Ga-Phasha Platinum Group Metals ("PGM") Project ("Ga-Phasha"), Boikgantsho PGM Project ("Boikgantsho"), and the early stage Kwanda PGM Project ("Kwanda"). Anooraq currently holds interests in Ga-Phasha, Boikgantsho, and Kwanda, by way of 50/50 joint ventures with Anglo Platinum and so would increase its interests in each of these projects from 50% to 51%. All of these projects are located in the Bushveld Complex of South Africa. Upon completion of the Lebowa transaction, it is expected that Anooraq will control the 3rd largest PGM resource base in South Africa.

Lebowa Operations & Growth Plan

- Lebowa is an operating mine located on the North-Eastern limb of the Bushveld Complex, to the north of and adjacent to Ga-Phasha.

- Lebowa consists of a vertical shaft and a decline shaft system to access the underground development on the Merensky (approx. 85,000 tonnes per month ("tpm")) and UG2 Reefs (approx. 45,000 tpm), as well as two concentrator plants.

- Production at Lebowa in 2007(1) was approximately 187,700 refined ounces of platinum, palladium, rhodium and gold ("4E") from 1.33 million tonnes ("Mt") of ore milled.

- Anglo Platinum has approved a long term growth plan for Lebowa, which includes various replacement and expansion projects. Anooraq as a controlling shareholder supports this growth plan which will result in existing mining operations at Lebowa increasing in two stages. Technical studies conducted by Anglo Platinum indicate that Lebowa's value is maximized at a mining rate of 375,000 tpm, comprising steady state Merensky production at 120,000 tpm and steady state UG2 production of 255,000 tpm.

- Stage 1 (2008-2013) comprises an expansion of Merensky and UG2 ore production to 245,000 tpm, with Merensky production being increased to 120,000 tpm, initially from the Brakfontein Merensky decline shaft system and UG2 production being increased to 125,000 tpm, initially from the Middelpunt Hill UG2 decline shaft system.

- Stage 2 (2016 onwards) sees the further expansion of UG2 production to 255,000 tpm with Merensky production remaining at 120,000 tpm.

(1) Anglo Platinum Annual Report, 31 December 2007.

Anooraq engaged international mining industry consultants to conduct a technical review of the Lebowa mine. The Mineral Resources and Mineral Reserves have been reviewed by Snowden Mining Industry Consultants ("Snowden"). A technical report by independent qualified persons D.B. Gray, Pr.Sci.Nat., and B.C. Rip, Pr.Eng., FSAIMM, has been filed on www.sedar.com. The aforementioned qualified persons have reviewed and approved the technical disclosure in this news release.

This technical review indicates 11.2 million ounces (Moz) of platinum, palladium, rhodium and gold (4E) in estimated Mineral Reserves at December 2007, which represents a 7.7% increase in the overall estimated Mineral Reserves within approved project areas, compared to the estimated Mineral Reserves of 10.4 Moz disclosed in the September 4, 2007 news release. The increase in Mineral Reserves is attributable to Lebowa's ongoing drilling and development program.

The technical review confirmed the following Mineral Reserves and Resources.

December 2007 Mineral Reserves
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                                            4E
                                  4E contained     Pt     Pd     Rh     Au
                      Tonnage  grade     metal  grade  grade  grade  grade
Category                  (Mt)  (g/t)     (Moz)  (g/t)  (g/t)  (g/t)  (g/t)
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Merensky
  Proven                 23.1   4.25      3.20   2.62   1.20   0.15   0.28
  Probable                5.4   4.06      0.70   2.50   1.12   0.16   0.28
 Total Reserve           28.5   4.22      3.90   2.59   1.19   0.16   0.28
UG2
  Proven                 34.1   5.29      5.80   2.18   2.57   0.44   0.10
  Probable                9.4   5.04      1.50   2.11   2.39   0.44   0.09
 Total Reserve           43.5   5.23      7.30   2.17   2.53   0.44   0.10
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Notes: The Mineral Reserves stated are for 100% of Lebowa. Anooraq's
       interest would be 51% of the above Mineral Reserves once the
       transaction is completed.
       Mineral Reserves are exclusive of Mineral Resources.
       Tonnes and ounces have been rounded and this may have resulted in
       minor discrepancies.
       The 4E elements are the sum of platinum (Pt) + palladium (Pd) +
       rhodium (Rh) + gold (Au).
       Only Measured and Indicated Resources have been converted to
       Mineral Reserves.
       Mineral Reserves have been determined by applying modifying factors
       to the Mineral Resource.
       Mineral Reserves are as at December 31 2007 and will have been
       depleted by current mining since December 2007.
       The Merensky pay limit (break even) varies between 1.3 and 4.8 g/t
       4E across all operations of Anglo Platinum.
       The UG2 pay limit (break even) varies between 1.3 and 4.4 g/t 4E
       across all operations of Anglo Platinum.
       Contained metal in reserve table has recoveries applied.
December 2007 Mineral Resources
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                                            4E
                                  4E contained     Pt     Pd     Rh     Au
                      Tonnage  grade     metal  grade  grade  grade  grade
Category                  (Mt)  (g/t)     (Moz)  (g/t)  (g/t)  (g/t)  (g/t)
--------------------------------------------------------------------------
 Merensky
  Measured               25.0   5.68      4.57   3.65   1.51   0.21   0.30
  Indicated              27.4   5.51      4.86   3.46   1.52   0.20   0.33
Measured and Indicated   52.4   5.61      9.43   3.55   1.52   0.20   0.32
  Inferred              103.2   5.30     17.58   3.34   1.45   0.20   0.31
 UG2
  Measured              107.6   6.60     22.84   2.70   3.23   0.55   0.12
  Indicated              71.3   6.56     15.32   2.70   3.20   0.53   0.13
Measured and Indicated  178.9   6.58     38.16   2.70   3.22   0.54   0.12
  Inferred              145.0   6.61     30.82   2.72   3.23   0.53   0.13
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Notes: The Mineral Resources stated are for 100% of Lebowa. Anooraq's
       interest would be 51% of the above Mineral Resources once the
       transaction is completed.
       Mineral Resources are exclusive of Mineral Reserves.
       Tonnes and ounces have been rounded and this may have resulted in
       minor discrepancies.
       The 4E elements are platinum (Pt) + palladium (Pd) + rhodium (Rh) +
       gold (Au).
       Oxidised zones and all geological losses have been excluded from
       the resources.
       Mineral Resources that are not Mineral Reserves have potential
       economic viability but have not yet been demonstrated by an
       approved mining plan. Measured and Indicated Mineral Resources are
       generally located within 650 m depth from surface.
       Inferred Mineral Resources are generally located beyond 650 m depth
       from surface.
       Cut-off grades of 2.4 to 3.5 g/t 4E depending on reef
       characteristics are applied to Merensky Mineral Resource
       statements.
       A cut-off grade of 1.8 g/t 4E is applied to UG2 Mineral Resource
       statements.
       No recoveries are applied for contained metal in the resource
       table.

Approach of the technical review

Relevant geological information, the interpretation thereof and the estimation methodology have been reviewed by Snowden.

The reserve estimate takes into consideration all geologic, mining, milling, and economic factors. Mineral Reserves and Resources are stated according to SAMREC 2007 (South African Code for Reporting of Mineral Resources and Mineral Reserves) and also comply with Canadian standards (NI 43-101). The capital and operating costs stated are estimated to a 90% level of accuracy for approved projects.

The economic analysis undertaken for the technical review used South African Rand ("ZAR") as the base currency and takes into consideration relevant taxes and royalties. Royalties are based on the rates prescribed in the third draft of the proposed Royalty Bill. The resultant effective royalty is 5.4% of revenue.

The technical review used projected metal prices based on analyst consensus estimates to 2012 resulting in the following average price forecast over the next five years:

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Metal Prices                                                       long
(US$/oz)                   2008    2009    2010    2011    2012    term
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Platinum         Nominal  1,587   1,557   1,556   1,494   1,456
                 Real     1,544   1,475   1,435   1,341   1,273   1,273
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Palladium        Nominal    384     396     375     379     380                 Real       373     375     346     340     332     332
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Rhodium          Nominal  6,589   5,945   5,792   5,560   5,340
                 Real     6,410   5,631   5,342   4,993   4,669   4,669
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Gold             Nominal    845     856     888     855     847
                 Real       822     811     819     768     741     741
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Nickel (US$/lb)  Nominal  12.97   11.15    9.48    8.94    9.88
                 Real     12.62   10.56    8.74    8.03    8.64    8.64
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Copper (US$/lb)  Nominal   3.14    3.18    2.57    2.07    1.91
                 Real      3.06    3.02    2.37    1.86    1.67    1.67
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The nominal exchange rates for the first five years are based upon consensus analyst forecasts. Thereafter the ZAR is estimated to depreciate by 1.07% per annum, which is the difference between estimated South African Consumer Price Index (SA CPI) of 3.8% and estimated US CPI of 2.7%. The real assumptions have been derived from the inflation assumptions presented below.

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                                                                   long
Exchange Rate              2008    2009    2010    2011    2012    term
-----------------------------------------------------------------------
US$:ZAR          Nominal   7.36    7.72    8.01    8.19    8.57
                 Real      7.26    7.52    7.72    7.81    8.09    8.09
SA CPI                     4.2%    4.0%    3.8%    3.8%    3.8%    3.8%
US$ CPI                    2.8%    2.7%    2.7%    2.7%    2.7%    2.7%
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Certain Indicated and Measured Mineral Resources have been demonstrated to have economic viability, albeit at a lower level of confidence through pre-feasibility studies by Anglo Platinum and have been used in the economic evaluation of Lebowa, in proposed (not approved) projects. An additional 51.9 Mt grading at 4.49 4E g/t have been converted from the Mineral Resources to Proven and Probable Mineral Reserves in the proposed project evaluations.

The following are the after-tax results of the technical review in real terms for the life of mine ("LOM") for 100% of Lebowa:

-----------------------------------------------------------------------
-
Life of Mine                                                    34 years
------------------------------------------------------------------------
Life of Mine Production
------------------------------------------------------------------------
 Tonnes Treated                                       124 Million tonnes
------------------------------------------------------------------------
 4E Grade                                                       4.49 g/t
------------------------------------------------------------------------
 4E                                                             17.9 Moz
------------------------------------------------------------------------
  Pt                                                             8.5 Moz
------------------------------------------------------------------------
  Pd                                                             7.7 Moz
------------------------------------------------------------------------
  Rh                                                             1.2 Moz
------------------------------------------------------------------------
  Au                                                             0.5 Moz
------------------------------------------------------------------------
ZAR/US$ exchange rate                                               8.09
------------------------------------------------------------------------
------------------------------------------------------------------------
4E Basket Price ZAR/kg                                           272,144
------------------------------------------------------------------------
Operating Cost ZAR/4E kg                                          85,512
------------------------------------------------------------------------
Operating Cost ZAR/Tonne                                             384
------------------------------------------------------------------------
4E Basket Price US$/oz                                             1,048
------------------------------------------------------------------------
Operating Cost US$/4E oz                                             329
------------------------------------------------------------------------
------------------------------------------------------------------------
                                          ZAR Million        CAD Million
------------------------------------------------------------------------
Gross Revenue                                 143,414             18,698
------------------------------------------------------------------------
Total Capital Cost                             11,029              1,438
------------------------------------------------------------------------
 Expansion & Replacement                        7,659                999
------------------------------------------------------------------------
 Stay in Business                               3,370                439
------------------------------------------------------------------------
Operating cost                                 47,609              6,207
------------------------------------------------------------------------
Gross Profit                                   95,806             12,491
------------------------------------------------------------------------
Free Cash Flow                                 54,822              7,148
------------------------------------------------------------------------
Net Present Value (at 5.0% discount rate)      23.747              3,096
------------------------------------------------------------------------
Net Present Value (at 7.5% discount rate)      16,888              2,202
------------------------------------------------------------------------
Net Present Value (at 10% discount rate)       12,553              1,637
------------------------------------------------------------------------
Note: CAD values converted at an exchange rate of 7.67 as at 12 April
      2008.
      Stay in Business capital is the sustaining capital.
      Basket price is total metal value per refined 4E kilogram and
      takes into account different ratios of metals for Lebowa.

Sensitivity analysis

Sensitivity analyses were done as part of the technical review. Results in ZAR and Canadian dollars ("CAD") are summarized in the tables below. The analyses show that the project is most sensitive to revenue followed by operating cost and the totals show changes in real LOM operating cost, real LOM basket price and NPV for the Lebowa mine.

-----------------------------------------------------------------------
---
                                 NPV7.5 (ZAR Millions)
                      LOM Real 4E Basket Price ZAR 272,144/4E kg
              -20%   -15%   -10%    -5%     0%    +5%   +10%   +15%   +20%
--------------------------------------------------------------------------
       -20% 12,781 14,313 15,846 17,378 18,911 20,443 21,976 23,508 25,041
LOM    -15% 12,275 13,808 15,340 16,873 18,405 19,938 21,470 23,003 24,535
Real   -10% 11,768 13,302 14,834 16,367 17,899 19,432 20,965 22,497 24,030
Opera-  -5% 11,261 12,796 14,329 15,861 17,394 18,926 20,459 21,991 23,524
ting     0% 10,766 12,290 13,823 15,355 16,888 18,421 19,953 21,486 23,018
Cost    +5% 10,270 11,783 13,317 14,850 16,382 17,915 19,447 20,980 22,513
ZAR    +10%  9,774 11,287 12,811 14,344 15,877 17,409 18,942 20,474 22,007
384/t  +15%  9,278 10,792 12,304 13,838 15,371 16,903 18,436 19,969 21,501
       +20%  8,778 10,297 11,809 13,333 14,865 16,398 17,930 19,463 20,995
--------------------------------------------------------------------------
--------------------------------------------------------------------------
                                 NPV7.5 (CAD Millions)
                      LOM Real 4E Basket Price CAD 35,482/4E kg
              -20%   -15%   -10%    -5%     0%    +5%   +10%   +15%   +20%
--------------------------------------------------------------------------
       -20%  1,666  1,866  2,066  2,266  2,466  2,665  2,865  3,065  3,265
LOM    -15%  1,600  1,800  2,000  2,200  2,400  2,599  2,799  2,999  3,199
Real   -10%  1,534  1,734  1,934  2,134  2,334  2,534  2,733  2,933  3,133
Opera-  -5%  1,468  1,668  1,868  2,068  2,268  2,468  2,667  2,867  3,067
ting     0%  1,404  1,602  1,802  2,002  2,202  2,402  2,601  2,801  3,001
Cost    +5%  1,339  1,536  1,736  1,936  2,136  2,336  2,535  2,735  2,935
CAD    +10%  1,274  1,472  1,670  1,870  2,070  2,270  2,470  2,669  2,869
50/t   +15%  1,210  1,407  1,604  1,804  2,004  2,204  2,404  2,604  2,803
       +20%  1,144  1,343  1,540  1,738  1,938  2,138  2,338  2,538  2,737
--------------------------------------------------------------------------

Anooraq's Acting President and CEO, Tumelo Motsisi, comments that, "This technical review confirms Anooraq's views on the valuation, superb quality and potential of Lebowa. Anooraq looks forward to moving ahead with the next steps in the transaction."

On behalf of the Board of Directors

Tumelo Motsisi, Acting President and CEO

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, 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 the assumptions that: the Lebowa acquisition will complete; Lebowa will continue to have production levels similar to previous years; the planned Lebowa expansions will be completed and successful; Anooraq will be able to obtain future debt and equity financing on favourable terms. 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 Form on 20-F with the United States Securities and Exchange Commission and its home jurisdiction filings that are available at www.sedar.com. The following are the principal risk factors and uncertainties which, in management's opinion, are likely to most directly affect the conclusions of the study. Some of the mineralized material classified as a measured and indicated resource has been used in the cash flow analysis. For US mining standards, a full feasibility study would be required, which would require more detailed studies. Additionally all necessary mining permits would be required in order to classify the project's mineralized material as an economically exploitable reserve. There can be no assurance that this mineralized material will become classifiable as a reserve and there is no assurance as to the amount, if any, that might ultimately qualify as a reserve or what the grade of such reserve amounts would be. Data is not complete and cost estimates have been developed, in part, based on the expertise of the individuals participating in the preparation of the study and on costs at projects believed to be comparable, and not based on firm price quotes. Costs, including design, procurement, construction and on-going operating costs and metal recoveries could be materially different from those contained in the study. There can be no assurance that mining can be conducted at the rates and grades assumed in the study. There can be no assurance that these infrastructure facilities can be developed on a timely and cost-effective basis. Energy risks include the potential for significant increases in the cost of fuel and electricity, and fluctuation in the availability of electricity. Projected metal prices have been used for the study. The prices of these metals are historically volatile, and the Company has no control of or influence on the prices, which are determined in international markets. There can be no assurance that the prices of platinum, palladium, rhodium, gold, copper and nickel will continue at current levels or that they will not decline below the prices assumed in the pre-feasibility study. Prices for these commodities have been below the price ranges assumed in study at times during the past ten years, and for extended periods of time. The project will require major financing, probably a combination of debt and equity financing. Interest rates are at historically low levels. There can be no assurance that debt and/or equity financing will be available on acceptable terms. A significant increase in costs of capital could materially adversely affect the value and feasibility of constructing the expansions. Other general risks include those ordinary to large construction projects, including the general uncertainties inherent in engineering and construction cost, the need to comply with generally increasing environmental obligations, and accommodation of local and community concerns. The economics are sensitive to the currency exchange rates, which have been subject to large fluctuations in the last several years.

Information Concerning Estimates of Measured, Indicated and Inferred Resources

This news release also uses the terms "measured resources", "indicated resources" and "inferred resources". Anglo Platinum and Anooraq advise investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, "inferred resources" have a greater amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for a Preliminary Assessment as defined under National Instrument 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

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.

Contacts: Anooraq Resources Corporation (South Africa) Joel Kesler Head of Business Development +27 11 883 0831 Anooraq Resources Corporation (North America) Shawn Wallace Investor Services (604) 684-6365 or Toll Free: 1-800-667-2114 (604) 684-8092 (FAX) Website: www.anooraqresources.com

SOURCE: Anooraq Resources Corporation

http://www.anooraqresources.com