SIMEC Atlantis Energy Regulatory News (SAE)

26 October 2016

Atlantis Resources Limited

("Atlantis" or the "Company")

MeyGen Update

Atlantis, a global leader in the tidal power sector, is pleased to provide a further update on the offshore construction programme at the MeyGen project site in the Pentland Firth, Scotland.

As announced on 7 October, the first of four Turbine Support Structures ("TSS") was installed using the Neptune jack up vessel owned by Geosea. All four foundations have now been successfully installed using the Neptune jack-up vessel which has been demobilised from the project site.

This offshore operation was a resounding success and importantly has validated the use of jack up vessels for the purpose of installing tidal turbine foundations offshore in high flow locations. The use of a jack-up rig for the installations is significant for the future of the industry offering a flexible and fast installation solution.

The project remains on track to have all turbines installed and connected to the grid in time for first power delivery from the world's largest tidal power project by the end of the year.

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