Atlantic Industrial Minerals Closes Limestone Acquisition

Colin J. MacDonald, President and CEO of Atlantic Industrial Minerals
Incorporated. ("AIM") (TSX VENTURE:ANL.H) announces:


Glencoe and Kewstoke Properties Acquisition Closes

AIM has closed the acquisition of a 50% interest in Glencoe Resources Inc. and a
100% interest in the Kewstoke carbonate property increasing AIM's ownership of
these assets to 100% and giving AIM sole control over the Glencoe and Kewstoke
limestone deposits. 


The consideration for the acquisition was 6,000,000 common shares, 2,000,000
share purchase warrants exercisable at $0.10 per share until August 31, 2013,
and $50,000. A production royalty of the greater of $1.50 per tonne or 5% of the
gross selling price will be paid on all carbonate product sold. Pursuant to a
Modification Agreement the property vendors agreed to defer the $50,000 payment
until the earlier of completion of an equity financing of not less than $500,000
or August 31, 2014. 


Annual General Meeting

The Annual General Meeting of AIM has been scheduled for November 1, 2012.

On behalf of the Board

Colin MacDonald

President & CEO 

This press release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, that address future exploration drilling,
exploration activities and events or developments that the Company expects, are
forward looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in forward-looking
statements. Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and financing, and
general economic, market or business conditions.