OSBURN, Idaho, June 29, 2006 (PRIMEZONE) -- Atlas Mining Company (OTCBB:ALMI) announced today that its contracting entity, Atlas Fausett Contracting, was awarded a contract at the East Boulder Mine near Big Timber, Montana. Atlas Fausett Contracting will provide underground drifting and stope preparation work at the property. The contract is slated to begin August 1st, and will generate approximately $200,000 per month in additional revenue for six months.
According to Ron Short, Operations Officer for Atlas Mining Company, "This is the type of project we like to get. We have the experience and the manpower to get it done, and we are pleased to have been awarded the contract."
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, copper and gold properties in Newfoundland, 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.