Market update and renewal of cautionary announcement

             Market update and renewal of cautionary announcement

PR Newswire

JOHANNESBURG, Dec. 3, 2012

JOHANNESBURG, Dec. 3, 2012 /PRNewswire/ - Atlatsa Resources Corporation
("Atlatsa" or the "Company") (TSXV: ATL; NYSE MKT: ATL; JSE: ATL) refers
shareholders to the announcements released on 2 February 2012, 3 May 2012, 14
June 2012, 27 July 2012,7 September 2012 and 22 October 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").

On 1 October, 2012  an unprotected strike commenced  at Bokoni Platinum  Mines 
("Bokoni Mine") as a consequence of the strike contagion within the PGM sector
in South Africa. As a result  of the strike, approximately 2,500 employees  at 
Bokoni Mine were dismissed and management is in the process of re-hiring  with 
a view to re-commencing operations as  soon as possible. No operations,  other 
than essential services, have taken place at Bokoni Mine since commencement of
the strike.

The Bokoni Mine's future operational plan and financing strategy is  currently 
under review,  having regard  to the  negative impact  of the  current  strike 
action. The  results  of  this  review  and its  impact  will  be  taken  into 
consideration  pursuant  to  the  Company  and  Anglo  American  Platinum  Ltd 
completing phase  two of  the Restructure  Plan, anticipated  to be  finalized 
during the first quarter of 2013.

Once the negotiations and definitive agreements  relating to phase two of  the 
Restructure Plan have been completed,  the Company will publish the  financial 
effects of the Restructure Plan and post its circular to shareholders  seeking 
necessary approvals for its implementation.

A further detailed announcement  will be released  on the Securities  Exchange 
News Service, filed  on SEDAR and  EDGAR, and published  in the South  African 
press, as  soon  as  the  financial  effects  have  been  finalized,  and  the 
definitive transaction agreements have been executed.

Shareholders are advised to  continue exercising caution  when dealing in  the 
Company's securities until a full announcement is made.

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

Contact:

On behalf of Atlatsa Resources
Joel Kesler, Chief Commercial Officer
Office: +27 11779 6800
Mobile: +27 82454 5556

Russell and Associates
Charmane Russell
Office: +27 11880 3924
Mobile: +27 823725816

Macquarie First South Capital
Annerie Britz / Yvette Labuschagne
Office: +27 11583 2000
 
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