Atlantic Industrial Minerals Options Reefton Gold Project

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


Reefton Gold Project

AIM has concluded an option to purchase from CanAlaska Uranium Inc. a 100%
interest in the 14,000 hectare Reefton Gold Project in South Island, New
Zealand. The option cost is C$300,000 and 300,000 shares payable over time until
April 30, 2015. AIM must also pay lease rentals to the New Zealand government in
the amount of approximately C$50,000 per annum, and conduct an exploration
program including 1,500 metres of drilling by December 31, 2014. CanAlaska
Uranium Inc. will retain a 2% NSR subject to a 50% buy-back for C$1,000,000. A
finder's fee of 300,000 shares (payable 100,000 shares upon TSX acceptance and
200,000 shares upon final exercise of the option) will be paid. The option
agreement and finder's fee are subject to TSX acceptance.


Private Placement Update

AIM has closed a first tranche (700,000 shares at $0.075 per share to net
$52,500 to treasury) of the private placement announced August 8, 2012. The
shares are subject to a four month hold period expiring Jan 6, 2013


AIM is amending the terms of the private placement to increase the original
1,000,000 common shares at $0.075 per share to up to 1,033,333 common shares
totalling $77,500. The 'flow through' component of the placement at (750,000
shares at $0.10 per share totalling $75,000) remains unchanged. A finder's fee
may be paid on all or part of the remainder of the placement.


On behalf of the Board

Colin J. 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.