Anooraq announces award of options

VANCOUVER , Dec. 8 /CNW/ - Anooraq Resources Corporation ("Anooraq" or the "Company") (TSXV:ARQ; NYSE Amex:ANO; JSE:ARQ) announces the award on November 30, 2009 of options in respect of the Company's ordinary shares to the following directors of the Company, as set out in the table below:

    
    Name of director             Number of options          Total value (CAD)
    ----------------             -----------------          -----------------
    Philip Kotze                         1,000,000                   840,000
    Tumelo Motsisi                         800,000                   672,000
    Harold Motaung                         510,000                   428,400
    Wayne Kirk                             150,000                   126,000
    Rizelle Sampson                        150,000                   126,000
    Sipho Nkozi                            150,000                   126,000
    Anu Dhir                               150,000                   126,000
    Fikile de Buck                         150,000                   126,000
    Ronald Thiessen                        150,000                   126,000
    

The options have been granted in terms of the Company's stock option plan at the strike price of CAD0.84 each. The options vest over the next three years as follows:

    
    One third:                    November 30 2010
    One third:                    November 30 2011
    One third:                    November 30 2012
    

Once vested the options are exercisable immediately at the discretion of the holder; however, the options must be exercised by November 30, 2016 , failing which they lapse.

The aforementioned directors have been given the prescribed clearance to conduct the transactions, and they each have a 100% direct and beneficial interest in the options.

    
    On behalf of the Board of Directors

    Philip Kotze
    President and CEO
    

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

The NYSE Amex has 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 the engagement of a new chief financial officer, 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 assumptions that Anooraq will be able to engage a new chief financial officer within a reasonable period of time. 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 information form filed on www.sedar.com or its form 20-F with the United States Securities and Exchange Commission and its other home jurisdiction filings that are available at www.sedar.com.

For further information: Joel Kesler, Executive: Corporate and Business Development, Office: [phone], Mobile: [phone]; Russell and Associates, Charmane Russell/Nicola Taylor, Office: [phone], Mobile: [phone]