ATLATSA RESOURCES CORPORATION - ATLATSA RESOURCES AND ANGLO PLATINUM AGREE R3.5 BILLION REVISED RESTRUCTURE PLAN

ATLATSA RESOURCES AND ANGLO PLATINUM AGREE R3.5 BILLION REVISED RESTRUCTURE PLAN

 Atlatsa Resources Corporation
(previously Anooraq Resources Corporation)
(Incorporated in British Columbia, Canada)
(Registration number 10022-2033)
(TSXV/JSE share code: ATL)
(NYSE MKT share code: ATL)
 (“Atlatsa” or the “Company”)
(ISIN: CA0494771029)
                   

 ATLATSA RESOURCES AND ANGLO PLATINUM AGREE R3.5 BILLION REVISED RESTRUCTURE PLAN

Lower-risk operating plan, less capital intensive growth and sustainable financing places
Atlatsa in exciting position


27 March 2013. Atlatsa Resources Corporation (Atlatsa or the Company) (TSXV: ATL; NYSE MKT:
ATL; JSE: ATL) is pleased to announce that, together with Anglo American Platinum (Anglo Platinum),
the parties have concluded a R3.5 billion revised restructure, plan for Atlatsa and the Bokoni group of
companies.


The revised restructure plan follows a detailed strategic review that was undertaken in 2012 by the new
management team at Bokoni Mine, in conjunction with Anglo Platinum and Atlatsa. The review included
all technical, operational and financing assumptions informing the existing mine expansion and
financing strategy, having regard to the general outlook for the platinum group metals (PGMs) industry.


Harold Motaung, Chief Executive Officer of Atlatsa, notes that, “The revised plan will ensure that Atlatsa
will be well positioned to implement our business strategy on a more conservative, low-risk and
sustainable basis. Importantly, the plan will see the company being well-funded, with a robust balance
sheet, and significant BEE ownership, in excess of 50%.”


Joel Kesler, Chief Commercial Officer commented further that, ”The new operating plan includes lower-
cost, open cast project opportunities, which will enable Bokoni Mine to fill its installed processing
capacity in the near term, whilst underground mining operations build up to 160,000tpm, again in a low-
risk and less capital intensive manner. Capital expenditure of some R2.3 billion associated with UG2
expansions at Bokoni mine have been deferred, thereby reducing the anticipated debt burden for the
Company through to 2020. As a result, Bokoni Mine will become a predominantly Merensky reef
producer, accounting for 70% of total estimated production.”



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.
“Our focus now is on ensuring Bokoni operates safely and profitably for the benefit of all our
stakeholders.”


Key highlights of the revised restructure plan include:
   -  a new, more conservative operating and financing plan at Bokoni Mine to 2020;
   -  a simplified capital structure, by unwinding all preference share structures allowing for one class
      of common shares going forward;
   -  a 75% reduction in Atlatsa’s overall attributable debt from ZAR3.28 billion to ZAR833 million as
      at 31 December 2012;
   -  an equity capital injection of ZAR750 million by Anglo Platinum subscribing for 125 million new
      shares in Atlatsa at ZAR6.00 per share;
   -  an increase in Atlatsa’s BEE shareholding rom 51% to 62% allowing for equity financing
      flexibility into the future;
   -  ZAR700 million credit facility available to finance the new operating plan at Bokoni Mine; and
   -  reduced cost of borrowing by 85% from 13% to 2% over the debt term period between 2013 and
      2020.


The full terms announcement, dated 27 March 2013, can be found on the Company website at
www.atlatsaresources.co.za for a detailed description of the transaction.


The transaction remains subject to a number of conditions precedent, including relevant shareholder
and regulatory approvals as required.


Atlatsa will report its results for the year ended 31 December 2012 on 28 March 2013. Following that,
the company will announce the financial effects of this transaction.


Johannesburg
27 March 2013


JSE Sponsor
Macquarie First South Capital


For further information:

On behalf of Atlatsa Resources             Russell and Associates      Macquarie First South Capital

Joel Kesler, Chief Commercial Officer      Charmane Russell            Annerie Britz / Yvette Labuschagne

Office: +27 11 779 6800                    Office: +27 11 880 3924     Office: +27 11 583 2000

Mobile: +27 82 454 5556                     Mobile: +27 82 3725816

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