Atlas Mining Company Announces $4.4 Million Private Placement.OSBURN, Idaho -- Atlas Mining Company (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ALMI ALMI Application Level Multicast Infrastructure ALMI Automated Listing and Mapping Instrument (US Census Bureau) ) announced today that it has recently completed a capital raise of $4.4 million via the sale of restricted common stock. The announcement made by company president William T Jacobson, stated, "The company has accepted $4.4 million from existing long term investors through a private placement of its common stock. With these proceeds we will be able to purchase the Dragon Mine, payoff debts and have the necessary funding to move the Dragon Mine into a more productive stage. We are very pleased that we have shareholders with faith in our company and willing to take a long term position such as this." According to Jacobson, the funding came from three major institutional funds that have held Atlas stock prior to this sale. "All have had representatives visit our mine and know we are the real thing. Their due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. was complete and we know we have very supportive financial partners to help move us forward," stated Jacobson. 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 Juab County is a county located in the U.S. state of Utah. As of 2000 the population was 8,238, and by 2005 had been estimated at 9,113. It was named from an Indian word meaning thirsty valley, or possibly only valley. , leased from Chester Mining and the only known commercial source of halloysite clay outside of New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . The unique purity and quality of the Dragon mine halloysite is unmatched anywhere in the world and has spawned considerable research into new and exciting 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 OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol "ALMI". More information about Atlas Mining Company can be found at www.atlasmining.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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 Cautionary Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. Atlas Mining undertakes no duty to update these forward-looking statements. |
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