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Atlas Mining Determines Production Potential at Dragon Mine

Posted on: Tuesday, 28 November 2006, 09:00 CST

Atlas Mining Company (OTCBB: ALMI) disclosed today the Dragon Mine production and processing potential for halloysite clay. After reviewing the past several months of underground production at the Dragon Mine, the only halloysite mine in the U.S. with commercial production capabilities, Atlas management has determined its mining operation has the ability to produce over 30,000 tons of raw halloysite material annually with its existing equipment and crew structure. The Company's wholly owned subsidiary, Nano Clay and Technologies, Inc., under the direction of Dr. Ron Price, has completed initial runs on the newly improved processing facility. According to Dr. Price, "We still have some adjustments to make to the plant, but every piece of equipment we have is operating correctly and doing what we expected of it. At one shift per day our processing plant has the capacity to produce 12,000 tons of quality halloysite on an annual basis. Two shifts per day would double this figure and three shifts would bring the plant production up to matching the underground mine production. Our need to increase run time by adding shifts will depend on sales as we move into the new year." Dr. Price went on to say, "Our customers have conducted extensive research and product development using the unique aspects of our halloysite clay. We will make sales of our halloysite clay as soon as we have built a stockpile of completed product and can be assured we can match production and quality with sales orders."

William Jacobson, President and CEO, added, "As we move forward, we, of course, plan to add and replace machinery at both the mining operation and the processing plant in order to enhance the entire production process. But overall, right now, I'm very pleased with the capacity we have been able to establish, knowing we will now be able to meet immediate and intermediate demands."

About Atlas Mining Company: Atlas Mining Company is a diversified natural resource company with 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, and holds interests in copper and gold properties in Newfoundland. Atlas stock trades on the OTC Bulletin Board under the symbol "ALMI". More information about Atlas Mining Company can be found at http://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.

Source: Business Wire

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