Atlas Mining Company Receives Approval of Mining Application.Business Editors OSBURN, Idaho--(BUSINESS WIRE)--Nov. 13, 2002 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) ) is pleased to announce that it has received approval of its application to commence mining operations at the Dragon Mine site 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. . The application was submitted to the State of Utah Department of Natural Resources Many sub-national governments have a Department of Natural Resources or similarly-named organization:
Now that the State application is approved, the company intends to verify the continuity and quality of the halloysite deposit through exploration from the existing mine shaft and through a surface diamond drill program. Geological records indicate that the quality of the halloysite clay improves with depth. The company is in the process of developing a mining plan that targets these higher quality deposits and moves the site into production. Atlas president, William Jacobson William Jacobson (1803-1884) was Regius Professor of Divinity at Oxford University (1848–1865) and Bishop of Chester (1865–1884). He married Eleanor Jane Turner, the youngest daughter of the banker Dawson Turner in 1836. Their son was the surgeon W.H.A. Jacobson. commented, "Our initial marketing efforts have generated substantial interest in our product. Therefore, we would like to begin production as soon as possible. We will initially target orders with smaller quantities that we know we can fill and then move to meet larger orders as we develop the property." The mining application approved by the State of Utah gives Atlas Mining Company the leeway to conduct all of these activities, including future extraction of halloysite for processing and sale. About Atlas Mining Company Atlas Mining Company is an exploration stage natural resource and mining company with an underground mining contracting business. Atlas Mining has mining and timber properties located in the Silver Valley of Shoshone County, in North Idaho. Atlas Mining also has interest in a halloysite clay property in Juab County, Utah, and in the past has pursued exploration targets in Mexico. This notice does not constitute an offer of any securities for sale. 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 -- 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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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