Atlas Mining Reports Quarterly Results.

Business Editors

OSBURN, Idaho--(BUSINESS WIRE)--Nov. 13, 2003

Atlas Mining Company (OTCBB:ALMI), the only US company with a halloysite clay deposit of which the purity and quality is unmatched anywhere in the world, recently reported its third quarter results.

The 10QSB filing with the Securities and Exchange Commission reported the issuance of ten million shares of SB-2 stock, the proceeds of which will be used in part to help move the high grade halloysite clay property, known as the Dragon Mine, into production. During the first nine months of 2003, the company has completed additional drilling at the Dragon Mine to verify reserve data reported by previous owners. Along with the drilling Atlas has sent bulk samples of halloysite to three different processors to ascertain the most suitable processing methods, and Atlas personnel have also completed studies to determine development and mining costs. Atlas representatives are currently in discussion with a potential major buyer to supply product from the mine.

Year to date contracting revenue was $234,900, which was comparable to the previous period in 2002, however the company did experience higher general and administrative costs due to the expense of having the SB-2 filing approved. Commented William Jacobson, president, "We are finally moving in the direction we wanted. With the ability to bring capital into the company through our offering, we can start making progress at the Dragon Mine and bring our unique halloysite clay to market." Atlas has received commitments from distributors in the U.S. and the Orient that will bring first year sales to well over 10,000 tons. Current pricing of halloysite is at $450 per ton and more.

Mr. Jacobson went on to say, "The cost of becoming a fully listed and reporting company is behind us and our main goal right now is to pull the halloysite from the ground. We have been doing specific visits to evaluate the situation, and we feel with the cash on hand we can begin to mine the top surface and process orders for our private testing with our major clients. We have also been focusing on alternative applications and have been looking at multiple ways of exploiting the product." Mr. Jacobson went on to say, "We have taken the necessary steps to fund our company to take advantage of this asset. Getting this asset into the sales channels has already begun. We have assembled a powerhouse advisory board and have the interest of many of the end users and the attention of the competition. The current numbers don't speak to the potential of Atlas and we will continue to drive our efforts into the cash flow positive range."

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.