Atlantic Industrial Minerals Inc. provided an exploration update on the Reefton Gold Project located in the Reefton Goldfield on the West Coast of New Zealand. The project is located west of Oceana's Globe Progress mine area and is in the same sequence of rocks. Old gold workings in the area, including the Morning Star workings which are located on the ANL holdings, demonstrate the potential of the project.

During December 2012, a field team was assembled for a field inspection of the Reefton Gold Project. The entrance to the 300 metre Morning Star adit was located and an access team was organized. The adit, which had not been entered since the 1920s, was entered successfully and the initial inspection of the first 200 metres of the adit identified sulfides, including arsenopyrite, and quartz veining and alteration in the stratigraphy.

The inspection was halted at the 200 metre point due to an old roof collapse blocking the adit. An inspection of the final 100 metres of the adit including the main vein system will be conducted after clearing and re-timbering the fall area. No detailed sampling was completed during the initial inspection.

The geology and mineralization is extremely encouraging. Generally, within the Reefton Goldfield, the type of veining identified and presence of sulphides is indicative of the presence of gold mineralization. Other than the collapsed area, the adit conditions appear to be excellent and the next phase of work will be to refurbish the workings which will allow for mapping, sampling, assaying and spot locations for underground drilling.

The company has assembled a team of consultants familiar with the area and is well-positioned to move to the next phase of exploration early this year.