ATLATSA RESOURCES CORPORATION - Atlatsa announces a restructure plan for Bokoni Platinum Mine

Atlatsa announces a restructure plan for Bokoni Platinum Mine

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

ATLATSA ANNOUNCES A RESTRUCTURE PLAN FOR BOKONI PLATINUM MINE

September 16, 2015 – Atlatsa Resources Corporation (“Atlatsa” or the “Company”) (TSX: ATL; JSE: ATL)
advises that it, together with its joint venture partner, Anglo American Platinum Limited, has determined to
implement a restructure plan at Bokoni Platinum Mine Proprietary Limited (“Bokoni Mine”).

Bokoni Mine remains in development with its key Middelpunt Hill UG2 and Brakfontein Merensky
underground operations estimated to achieve steady state production by the fourth quarter of 2016 and by 2019,
respectively. Given various operational and market related challenges experienced during the ramp up phase of
the two operations, Bokoni Mine has had to ensure that its older, higher cost Merensky operations at the
Vertical and UM2 shafts remained operational for longer than originally contemplated, a position which is no
longer sustainable in light of limited available ore reserves remaining at these shaft operations and continued
depressed Platinum Group Metal (“PGM”) prices.

To ensure the future sustainability of Bokoni Mine, the Company has had to implement an operational and
financial restructure plan at Bokoni Mine (the “Restructure Plan”). The primary objective of the Restructure
Plan is to enable Bokoni Mine to endure a prolonged period of depressed PGM commodity prices, by reducing
its existing cost structure and increasing production volumes of higher grade ore from underground operations.

Implementation of the Restructure Plan at Bokoni Mine is anticipated to result in:
   - the older, high cost UM2 and Vertical Merensky shaft operations being placed on care and maintenance;
   - continued ramp up of the Middelpunt Hill UG2 and Brakfontein Merensky development shafts to steady
      state production of 60,000 tpm by the fourth quarter of 2016 and 100,000 tpm by 2019, respectively;
   - continued mining at the Klipfontein Merensky open cast operation as a mill gap filler during ramp up of
      the underground operations;
   - significant reduction in labour overheads; and
   - reduction in Bokoni Mine’s unit cost of production.

Bokoni Mine has issued a Section 189 (3) notice to relevant parties pursuant to Section 189A of the South
African Labour Relations Act, 66 of 1995 (“LRA”), for the commencement of a consultation process on
the contemplated retrenchments of certain of its employees based on operational requirements.

In an effort to reduce the potential impact of the Restructure Plan, Bokoni Mine will propose offering voluntary
severance and early retirement packages and also plans to introduce comprehensive support measures to
mitigate the impact of the proposed restructuring on affected employees.

The 60 day consultation process associated with the Restructure Plan as contemplated in the LRA is anticipated
to end on 16 November 2015.


On behalf of Atlatsa
Prudence Lebina
Head of Investor Relations
Office: +27 11 779 6800
Email: PrudenceL@atlatsa.com

JSE Sponsor:
One Capital
Kathy Saunders / Taryn Carter
Office: +27 11 550 5000

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