Atlatsa Resources Corporation - Market Update and Renewal of Cautionary Announcement

   Atlatsa Resources Corporation - Market Update and Renewal of Cautionary

PR Newswire

JOHANNESBURG, Jan. 18, 2013

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.

Subsequent to the annual Christmas break,  the start up of mine operations  in 
January, 2013  has been  implemented according  to plan,  with both  mine  and 
processing operations having normalised.

Operational plan and financing strategy

The Bokoni Mine's  future operational  plan, capital  budgeting and  financing 
strategy has  been reviewed,  having  regard to  the  negative impact  of  the 
unprotected strike  and the  Company's intended  strategy going  forward.  The 
results of this review  and its impact have  been taken into consideration  by 
the Company and Anglo American Platinum Ltd pursuant to the parties completing
phase two of  the Restructure  Plan, anticipated  to be  finalized during  the 
first half of 2013.

Once the necessary internal and regulatory approvals relating to phase two  of 
the Restructure  Plan  have  been  obtained,  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  to the  media  in  North 
America, on the  Securities Exchange News  Service in South  Africa, 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 relating to phase two of the Restructure Plan have been executed by
the Company.

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

Cautionary and forward-looking information

This  document  contains  "forward-looking  statements"  that  were  based  on 
Atlatsa's expectations, estimates and projections as of the dates as of  which 
those statements were made, including statements relating to the Bokoni  Group 
restructure  and  refinancing   and  anticipated   financial  or   operational 
performance. Generally, these forward-looking statements can be identified  by 
the use  of  forward-looking terminology  such  as "may",  "will",  "outlook", 
"anticipate", "project", "target", "believe", "estimate", "expect",  "intend", 
"should" and similar expressions.

Forward-looking  statements   are  subject   to  known   and  unknown   risks, 
uncertainties and other factors that  may cause the Company's actual  results, 
level of activity, performance or achievements to be materially different from
those expressed or implied by  such forward-looking statements. These  include 
but are not limited to:

  *uncertainties related to the completion of the Bokoni Group restructure
    and refinancing;
  *uncertainties and costs related to the Company's exploration and
    development activities, such as those associated with determining whether
    mineral resources or reserves exist on a property;
  *uncertainties related to feasibility studies that provide estimates of
    expected or anticipated costs, expenditures and economic returns from a
    mining project;
  *uncertainties related to expected production rates, timing of production
    and the cash and total costs of production and milling;
  *uncertainties related to the ability to obtain necessary licenses,
    permits, electricity, surface rights and title for development projects;
  *operating and technical difficulties in connection with mining development
  *uncertainties related to the accuracy of our mineral reserve and mineral
    resource estimates and our estimates of future production and future cash
    and total costs of production, and the geotechnical or hydrogeological
    nature of ore deposits, and diminishing quantities or grades of mineral
  *uncertainties related to unexpected judicial or regulatory proceedings;
  *changes in, and the effects of, the laws, regulations and government
    policies affecting our mining operations, particularly laws, regulations
    and policies relating to:

       *mine expansions, environmental protection and associated compliance
         costs arising from exploration, mine development, mine operations and
         mine closures;
       *expected effective future tax rates in jurisdictions in which our
         operations are located;
       *the protection of the health and safety of mine workers; and
       *mineral rights ownership in countries where our mineral deposits are
         located, including the effect of the Mineral and Petroleum Resources
         Development Act (South Africa);

  *changes in general economic conditions, the financial markets and in the
    demand and market price for gold, copper and other minerals and
    commodities, such as diesel fuel, coal, petroleum coke, steel, concrete,
    electricity and other forms of energy, mining equipment, and fluctuations
    in exchange rates, particularly with respect to the value of the U.S.
    dollar, Canadian dollar and South African rand;
  *unusual or unexpected formation, cave-ins, flooding, pressures, and
    precious metals losses (and the risk of inadequate insurance or inability
    to obtain insurance to cover these risks);
  *changes in accounting policies and methods we use to report our financial
    condition, including uncertainties associated with critical accounting
    assumptions and estimates; environmental issues and liabilities associated
    with mining including processing and stock piling ore;
  *geopolitical uncertainty and political and economic instability in
    countries which we operate; and
  *labour strikes, work stoppages, or other interruptions to, or difficulties
    in, the employment of labour in markets in which we operate mines, or
    environmental hazards, industrial accidents or other events or
    occurrences, including third party interference that interrupt the
    production of minerals in our mines.

For further  information on  Atlatsa, investors  should review  the  Company's 
Annual Report disclosed in the Form 20-F for the year ended December 31,  2011 
filed on SEDAR  at  and with  the United  States Securities  and 
Exchange Commission  and  other  disclosure  documents  that  are 
available on SEDAR at

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


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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