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Atlatsa Resources Corporation - Market Update And Renewal Of Cautionary Announcement

JOHANNESBURG, Jan. 18, 2013 /PRNewswire/ - Shareholders of Atlatsa Resources Corporation ("Atlatsa" or the "Company") (TSXV: ATL; NYSE MKT: ATL; JSE: ATL) are referred to the announcements released on 2 February 2012, 3 May 2012, 14 June 2012, 27 July 2012, 7 September 2012, 22 October 2012 and 3 December 2012 respectively, relating to the agreement of key terms in respect of a transaction to restructure, recapitalize and refinance Atlatsa and the Bokoni group of companies ("Bokoni group") (the "Restructure Plan"), as well as the media releases on 27 September 2012 and 2 October 2012 relating to the conclusion of the interim implementation agreement relating to the consolidation of the Bokoni group debt and consequent reduction in its cost of borrowing ("the phase one agreement").

Re-commencement of operations after unprotected strike

On 1 October, 2012 an unprotected strike commenced at Bokoni Platinum Mines ("Bokoni Mine") as a consequence of the 2012 strike contagion within the mining sector in South Africa. No operations, other than essential services, took place at Bokoni Mine between 1 October 2012 to 1 December 2012 when the unprotected strike ended. Operations at Bokoni Mine re-commenced in mid December 2012, subsequent to the necessary safety inspections and workforce inductions having been concluded.

The unprotected strike did not result in any amendments to the existing wage agreement between Bokoni Mine and its recognised Unions, due to expire in July, 2013. The current Bokoni Mine workforce is approximately 5,000 people, comprising 3,500 own employees and 1,500 contractors.

As a consequence of the unprotected strike, Bokoni Mine is estimated to have lost approximately 35,500 PGM Oz (4E) of production during Q4 2012.

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