Ms. Prudence Lebina reports

UPDATE ON DELAY IN FILING OF UNAUDITED INTERIM FINANCIAL STATEMENTS

Atlatsa Resources Corp. advised on Nov. 16, 2015, that it is was not in a position to file its unaudited interim financial statements for the three and nine months ended Sept. 30, 2015, the related management's discussion and analysis, and related chief executive officer and chief financial officer certificates.

As previously announced on Aug. 14, 2015, Atlatsa has not been able to file its unaudited interim financial statements for the three and six months ended June 30, 2015, the related MD&A, and related chief executive officer and chief financial officer certificates.

The delay in filing the financial disclosure is due to the uncertainties surrounding the company's financial condition and the state of commodity markets.

A technical evaluation done in collaboration with the company's joint venture partner, Anglo American Platinum Ltd., for the purposes of reviewing the Bokoni Mines Pty. Ltd. extraction strategy and developing a path toward a sustainable and optimized mine operation has been concluded. Implementation of the operational and financial restructure plan announced on Sept. 16, 2015, has commenced, with the consultation process on the contemplated retrenchments of certain of Bokoni mine employees taking place in compliance with Section 189A of the South African Labour Relations Act 66 of 1995.

Atlatsa continues to be in discussions with Anglo Platinum in relation to sourcing additional financial support for the company, having regard to the current bearish commodity price environment, results of the completed technical evaluation, anticipated outcomes of the restructure plan at Bokoni mine, and Anglo Platinum's announced intent to divest from Bokoni mine and Atlatsa.

As previously disclosed in Section 1.11 of the MD&A of financial condition and results of operations for the year ended Dec. 31, 2014, and Note 2 of the consolidated financial statements for the year ended Dec. 31, 2014, filed on SEDAR and EDGAR, significant doubt remains regarding the company's ability to continue as a going concern. No assurances can be given that the issues being faced by the company will be resolved.

On Aug. 17, 2015, the B.C. Securities Commission, as principal regulator for the company, issued a management cease trade order under National Policy 12-203 in respect of the late financial disclosure filings rather than an issuer cease trade order. The issuance of a management cease trade order generally does not affect the ability of persons who have not been directors, officers or insiders of the company to trade in their securities.

The company confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as it remains in default of the filing requirements to file its financial disclosure within the prescribed time periods. The company confirms that, other than described herein, there has been no failures with respect to the company fulfilling its stated intention of satisfying the requirements of the alternative information guidelines and further confirms that there is no other material information relating to the status of the default and its affairs that has not been generally disclosed.

We seek Safe Harbor.