Atlas Minerals Inc.
TSX VENTURE : AMR

Atlas Minerals Inc.

March 11, 2008 09:00 ET

Retransmission: Atlas Announces Significant Rhenium Grades on Initial Sampling at the Breccia (3C) Prospect at Tres Chorreras

CALGARY, ALBERTA--(Marketwire - March 11, 2008) - Atlas Minerals Inc. ("the Company" or "Atlas") (TSX VENTURE:AMR) is pleased to provide the following update on the status of the Company's Tres Chorreras project ("the Project"), located in the Azuay Province, southern Ecuador, within the highly prospective "Quimsacocha - Ponce Enriquez Copper-Gold District".

As a follow-up to the January 14, 2008 news release, Atlas has received results of its rhenium analysis on 23 panel samples, 1 to 3 metres long by 0.5 metres wide collected from the Chorrones adit at the Breccia (3C) Prospect at Tres Chorreras.

Of 23 samples, 10 yielded rhenium values greater than 1 g/t. Rhenium values range from 12 ppb to 9950 ppb (0.012 to 9.95 g/t). The highest values appear to be from a zone within the Chorrones adit (and apparently near or along the eastern limit of the 3C zone) approximately 12.5 metres wide (see accompanying map for location within the Breccia (3C) zone). The arithmetic average of 13 panel samples (0.09 to 9.95 g/t) within this zone is 3.40 g/t Re.

Significant results returned:



Sample No. Panel Sample Length (m) Re g/t
---------- ---------------------- --------

T101229 2.0 m 9.95 g/t
T101243 3.0 m 6.57 g/t
T101669 3.0 m 5.85 g/t
T101232 3.0 m 4.44 g/t
T101232 3.0 m 3.37 g/t
T101234 3.0 m 2.39 g/t


Rhenium is one of the rarest but most dispersed metallic elements in the Earth's crust, with estimated dispersion to be about 1 part per billion. Molybdenite is the only significant host mineral for rhenium. Returned results are significant (up to 9,950 ppb) and will be followed up on all ongoing sampling and drilling programs at Tres Chorreras. At current spot prices reported by BASF Corp. (http://www.catalysts.basf.com/apps/eibprices/mp/ -$10,100 per kilogram / $10.10 per gram), the rhenium reported to date has the potential to add significant credits to the Tres Chorreras project.

Initial analysis was conducted at Acme Laboratories, Vancouver, BC with follow up analysis at ALS Chemex Laboratories in Vancouver, BC. Analytical results of rhenium, along with other associated metal values are presented in the table below.



------------------------------------------------------------------------
Panel
sample
Sample length Re g/t Re g/t
No. (m) Mo% Cu% Au g/t Ag g/t Acme ALSChemex
------------------------------------------------------------------------
T101229 2.00 1.277 0.28 0.29 5.3 greater 9.950
than 2.5
------------------------------------------------------------------------
T101230 3.00 0.192 0.19 0.17 9.7 1.545
------------------------------------------------------------------------
T101231 3.00 0.481 0.27 0.26 5.3 greater 4.440
than 2.5
------------------------------------------------------------------------
T101232 3.00 0.327 0.19 0.22 2.5 greater 3.370
than 2.5
------------------------------------------------------------------------
T101233 3.00 1.561 0.19 0.21 5.4 greater n.s.
than 2.5
------------------------------------------------------------------------
T101234 3.00 0.254 0.14 0.11 2.8 greater 2.390
than 2.5
------------------------------------------------------------------------
T101235 3.00 0.065 0.03 0.01 0.6 0.067
------------------------------------------------------------------------
T101236 3.00 0.071 0.02 0.05 1.1 0.060
------------------------------------------------------------------------
T101237 3.00 0.012 0.06 0.02 1.7 0.012
------------------------------------------------------------------------
T101238 3.00 0.155 0.53 1.53 8.9 1.055
------------------------------------------------------------------------
T101239 3.00 0.132 0.03 0.50 2.1 0.934
------------------------------------------------------------------------
T101241 3.00 0.017 0.35 0.19 25 0.085
------------------------------------------------------------------------
T101242 1.00 0.332 0.03 0.07 1.9 1.938 1.815
------------------------------------------------------------------------
T101243 3.00 0.992 0.21 0.33 25.9 greater 6.570
than 2.5
------------------------------------------------------------------------
T101248 3.00 0.418 0.05 0.27 6.9 0.157
------------------------------------------------------------------------
T101249 3.00 0.470 0.03 0.20 1.8 0.081
------------------------------------------------------------------------
T101663 3.00 greater 0.29 1.25 9.6 0.180
than 0.2
------------------------------------------------------------------------
T101664 2.00 0.056 0.05 0.28 8.5 0.012
------------------------------------------------------------------------
T101665 3.00 0.054 0.07 0.12 1.2 0.031
------------------------------------------------------------------------
T101666 3.00 greater 0.10 0.23 2.8 0.167
than 0.2
------------------------------------------------------------------------
T101667 3.00 0.074 0.03 0.04 1.1 0.027
------------------------------------------------------------------------
T101668 2.00 0.046 0.03 0.04 1.4 0.068
------------------------------------------------------------------------
T101669 3.00 greater 0.10 2.83 9 5.850
than 0.2
------------------------------------------------------------------------

Analysis was conducted by ICP Mass Spectrometer at Acme Laboratories and
ALS Chemex of Vancouver B.C. on panel samples 1 - 3 metres long by 0.5
metres wide collected from the Chorrones adit (see accompanying map).

Note: n.s. equals not sufficient sample remaining for re-analysis.
1 gram per metric tonne (g/t) equals 1 part per million (ppm) equals
1000 parts per billion (ppb) equals 0.029 troy ounce per short ton
(oz/ton)
1 troy ounce per short ton (oz/ton) equals 34.28 grams per metric
tonne
1% equals 10000 parts per million (ppm) equals 10000 grams per metric
tonne


To view the map accompanying this release please click on the following link: http://media3.marketwire.com/docs/0310amr.pdf

About the Breccia 3C Prospect:

The Breccia (3C) is a polymetallic Mo-Cu-Au-Ag deposit. It has been interpreted as a zone of fracturing, faulting and brecciation which roughly parallels the contact between an irregular stock of silicified and tourmalinized microdiorite and host rhyolitic volcanic rocks. Molybdenite, chalcopyrite, pyrite, specularite, and magnetite occur disseminated in breccias, and locally occur massive in pockets or chimneys as higher grade. In addition mineralization is controlled by fracture stockwork of varying intensity beyond the breccias. The first 13 drill holes were started in the centre of the Breccia (3C) zone (for logistical purposes, i.e., topographical considerations, and starting at the highest elevations and working to lower elevations), to confirm and validate results obtained from the 1994 15 hole diamond drill program and to test the western limit of the zone.

The Breccia (3C) prospect, where the rhenium samples were collected, has not been fully defined on its eastern limit. Currently, the Company is drilling the 19th hole of a 30 hole drill program. These holes are starting in the western part of the epithermal zone and are testing the Breccia (3C) zone at depth, and also in part are testing the Epithermal Au-Ag prospect. Results from drill holes #5-9 (08-20 to 08-24) are expected to be released shortly. Rhenium analyses will be undertaken on a routine basis on samples with high molybdenum values.

Qualified person and quality control/quality assurance

The work program at Tres Chorreras was designed and is supervised by Donald G. Allen, PEng (B.C.), vice-president of exploration and director of Atlas Minerals Inc., who is responsible for all aspects of the work, including the quality control/quality assurance program. Donald G. Allen, PEng (B.C.), is the qualified person under National Instrument 43-101.

About Atlas Minerals Inc.

Atlas Minerals is a new publicly held mineral exploration company incorporated in Canada with an attractive land package in Ecuador. Atlas Minerals is committed to maximizing shareholder value through our exploration efforts, to improving the social and economic atmosphere for local communities and to protecting the environment by adhering to industry best practice. Our goal is prosperity for all.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: This press release concerns certain "forward-looking statements," including but not limited to, the statements regarding the Company's strategic plan, work programs and exploration budgets at the Company's Tres Chorreras. The forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with industry risks, risks associated with foreign operations, environmental risks and hazards and other risks.

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