Atlantic Coal plc Update on option to lease

Atlantic Coal plc Update on option to lease

Atlantic Coal plc, the AIM listed open cast coal production and processing company with activities in Pennsylvania, USA, is pleased to announce that the Board of Reading Anthracite Company ("RAC") has approved the lease option agreement (the "Lease Option") over the fully permitted 410 acre Pott & Bannon anthracite mining property in New Castle Township, Schuylkill County, Pennsylvania (the "Property").  As a result the US$250,000 payment made to RAC in order to secure its entry into the Lease Option has been released to RAC unconditionally.

Additionally Atlantic Coal announces that as part of the due diligence process it has appointed John T. Boyd & Company, a qualified person within the meaning of the AIM Rules for Companies, to confirm the resource information provided to the Company, further details of which are contained in the Company's announcement made on 3 January 2012.  The Company intends to submit the permit transfer application shortly and further updates regarding the Lease Option will be made at the appropriate time.

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