SIMEC Atlantis Energy Regulatory News (SAE)

9th December 2015

ATLANTIS RESOURCES LIMITED

("Atlantis" or the "Company")

MeyGen Operational Update

Atlantis, a global leader in the tidal power sector, provides an operational update on progress with its flagship tidal power project, MeyGen, which continues to progress well and remains on target to deliver power to the grid in 2016.

MeyGen Project

Atlantis' flagship tidal power project, MeyGen, has completed a very successful construction campaign in 2015, both onshore and offshore. Key project achievements include:

· Successful completion of the horizontal directional drilling program for all four power export cables for Phase 1A of the project

· Successful installation ‎of all four power export cables offshore on the project site, in preparation for connection of the first four turbine systems next year to the national grid via the onshore power distribution centre

· ABB has commenced construction of the onshore power distribution centre on site which will be connected to the national grid for power export early in Q1 2016. It is expected to be weather tight by Christmas 2015

· 15 kilometres of 33kV onshore cable has been installed by SHEPD from Hastigrow to Ness of Quoys, ready for grid connection next year

· Fabrication of all four of the Phase 1A foundations is now underway at Nigg Energy Park in Scotland

· Fabrication of all the foundation ballast blocks by JGC in Scotland for Phase 1A is nearly complete in preparation for deployment next year

· Fabrication and assembly of the Andritz Hammerfest Hydro 1.5MW turbines are well underway in Germany

· Fabrication and assembly of the Atlantis 1.5MW turbine is in progress in Scotland

There are a number of images of these various milestones available on our group Twitter feed: @atlantisresplc.

Tim Cornelius, Chief Executive Officer of Atlantis, commented:

"2015 has been another transformational year for Atlantis with the acquisition and successful integration of Marine Current Turbines and significant developments at the Company's flagship MeyGen project. This world leading project remains on track to execute its final offshore installation and commissioning program for Phase 1A in 2016.

"With strong political and regulatory support for tidal stream power in the United Kingdom, and with the excellent progress being made on the MeyGen project, 2016 promises to be a watershed year for Atlantis."

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