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TheStreet Open House

Bokoni Labour Unrest - Update

Stocks in this article: ATL

JOHANNESBURG, Oct. 12, 2012 /PRNewswire/ - Atlatsa Resources Corporation ("Atlatsa" or the "Company") (TSXV: ATL; NYSE MKT: ATL; JSE: ATL) confirms that the process of appeal hearings from NUM and TAWUSA on behalf of their members who were dismissed at Bokoni Platinum Mines ("Bokoni") on 6 October 2012 were concluded yesterday, Thursday 11 October 2012. NUM and TAWUSA are the recognised unions at Bokoni.

All the appeals, a number of which were based on pleas in mitigation, were upheld. The affected employees were issued with final written warnings relating to their continued employment at Bokoni, conditional upon their return to work on Monday 15 October 2012.

In a further development, a number of the dismissed employees have been involved in unlawful actions on mine property subsequent to their dismissal. The Company has obtained a further interdict against these individuals who are now prohibited from committing any unlawful acts on mine property, including inciting violence or intimidating employees at Bokoni. Employees who are found to have committed acts of misconduct during the period of unlawful industrial action may be subject to further disciplinary action in due course.

The existing wage agreement concluded in 2011 with NUM and TAWUSA has not been amended and remains in place up until July, 2013.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The NYSE MKT LLC has neither approved nor disapproved the contents of this press release.

SOURCE Atlatsa Resources Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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