Atlas Mining Company
OTC Bulletin Board : ALMI

January 19, 2006 08:02 ET

Atlas Mining Company Reports Claims Staked for Atlas/KAT Joint Venture

OSBURN, Idaho--(CCNMatthews - Jan 19, 2006) -

Atlas Mining Company (OTCBB: ALMI) reports today that the Atlas Mining Company/KAT Exploration Joint Venture has filed 494 claims encompassing approximately 12,350 hectares (30,500 acres) on sediment hosted stratiform copper prospects on the eastern side of Newfoundland. The first assays of the samples taken indicate strong copper over 1/2% over a large area.

"Overall, the progress has been great for us," stated William Jacobson, President and CEO. "The weather has cooperated and the crew has worked tremendously hard to get this much work done so quickly. These guys have proven they can get the job done, and we are very happy with the results."

"These sediment-host stratiform copper deposits are well sought after because they can become world class deposits in the right environment. And we certainly have the right environment," stated Ken Stead, KAT Exploration. Atlas Mining Company and KAT Exploration had entered into a joint venture agreement wherein Atlas will receive a 50% interest in all properties staked by KAT.

The Atlas/Kat partnership also has a portfolio of other properties. One such property, referred to as the "Colliers", is a stratabound undivided epigenetic volcanic deposit. This deposit has never been drilled but assay results reach as high has 11.7% Copper and 63.7 grams per-ton of Silver. Copper mineralization consists of Chalcocite, Bornite and Calcite in an Andesitic and Basaltic host rock. Mr. Stead of KAT Exploration stated, "With the recent surge in the price of copper and silver this deposit makes for a great combination and potential for a lucrative payback."

About Atlas Mining Company: Atlas Mining Company is a diversified natural resource company with its primary focus on the development of the Dragon Mine in Juab County, Utah, the only known commercial source of halloysite clay outside of New Zealand. The unique purity and quality of the Dragon mine halloysite is unmatched anywhere in the world and has spawned considerable research in the nanotechnology fields and has created exciting new applications for this product. Atlas also holds mining and timber interests in Northern Idaho, and operates an underground mining contracting business. Atlas stock trades on the OTC Bulletin Board under the symbol "ALMI". More information about Atlas Mining Company can be found at www.atlasmining.com

Safe Harbor Statement: Except for the historical statements made herein, the statements made in this release are forward-looking statements. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks. All forward-looking statements are expressly qualified in their entirety by this Safe Harbor Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. Atlas Mining Company undertakes no duty to update these forward-looking statements.

Contact Information

  • For additional information on the geology:
    KAT Exploration
    Ken Stead, 709-466-3335
    or
    Shareholder information:
    First Global Media
    Trevor Blank, 480-902-3110