ALMI News....10/21/03
Press Release Source: Atlas Mining Company
Atlas Mining Enters into Agreement with a Major Industrial Producer to Share Technical Information
Tuesday October 21, 8:45 am ET
OSBURN, Idaho--(BUSINESS WIRE)--Oct. 21, 2003--Atlas Mining Company (OTCBB:ALMI - News) is pleased to announce that it has signed an agreement with a major industrial producer to share technical information regarding its Dragon Mine Halloysite Clay Project and to explore other business relationship possibilities.
According to company sources, Atlas has entered into an agreement with a world-renowned industrial minerals producer that specializes in mining and processing rare minerals. It will commence with Atlas providing geological information on the Dragon Mine and will likely be followed by additional technical exchanges. If the project is found to meet the investment criteria of the counter party, then more advanced, business-related discussions will ensue.
Atlas President Bill Jacobson commented, "Our dialogue is in a preliminary phase, but this agreement is an encouraging first step. Although our current intention remains to bring the Dragon Mine into production ourselves, we recognize that a relationship with a global industrial minerals producer could provide immediate and tangible benefits to the company and its shareholders. Any operational agreements that we ultimately pursue must sufficiently reward Atlas shareholders to obtain our consideration."
Please visit the Atlas website at www.atlasmining.com for more information.
Atlas Mining Company is a diversified natural resources 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 purity and quality of halloysite from the Dragon Mine is unmatched anywhere in the world and has spawned considerable research into new applications for this unique 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".
Safe Harbor Statement -- As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company's ability to execute its business model and strategic plans; and the risks described from time to time in the Company's SEC filings.
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Contact:
For Atlas Mining Company
Market Advantages
Jason Genet, 480-664-3773
www.atlasmining.com
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Source: Atlas Mining Company
