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ATLAS DELINEATES NEW GOLD RESERVES AT GOLD BAR

 ATLAS DELINEATES NEW GOLD RESERVES AT GOLD BAR
 DENVER, Feb. 10 /PRNewswire/ -- Atlas Corp. (NYSE: AZ) announced


today the delineation of a new gold orebody located approximately 5,000 feet northwest of its Gold Ridge gold mine in Eureka County, Nev.
 Pincock, Allen and Holt Inc. (PAH), an independent mining consulting firm, has determined that the newly delineated gold deposit, which is on the property recently optioned to Atlas, contains a geologic resource of 131,000 ounces of gold using a cutoff of five feet of 0.02 ounce of gold per ton. Within this resource area, PAH has identified a proven and probable mineable reserve -- at a gold price of $400 per ounce -- of 86,500 ounces of gold averaging .094 ounce of gold per ton of ore. The deposit contains an additional 22,000 ounces of gold, which may be upgraded to the proven and probable mineable reserve categories after further confirmation work is completed.
 Atlas commenced drilling the target in November 1991 and has completed 64 drill holes on 100 foot centers. The new orebody is known as the Gold Canyon deposit and lies in an area approximately 1,300 feet in diameter. Gold occurs at the surface, and the deposit has an overall estimated 5.9 to 1 waste to ore stripping ratio. Preliminary metallurgical testing indicates the composition of the ore is very similar to that currently being mined from the other three deposits located on the Gold Bar land block. The ore from the Gold Canyon deposit will be processed in the company's Gold Bar Mill.
 Preliminary mapping and sampling work by Atlas geologists near the Gold Canyon deposit have to date identified one additional target, which the company will drill in the near future.
 Richard R. Weaver, Atlas' president and chief executive officer, said, "We quickly extended our mine life with the Gold Canyon discovery, and I see no reason why additional reserves will not be found nearby. This new discovery will play a major role in moving us toward our goal of building a 1,000,000 ounce mineable reserve at Gold Bar during the next two years."
 Atlas is a mining company whose primary business is gold exploration and production. The company currently produces approximately 80,000 ounces of gold per year from its Gold Bar Mill in Nevada. Development of the company's Grassy Mountain Project in Oregon is anticipated to increase gold production by 100,000 ounces annually with production beginning in 1994. The company has exploration efforts under way in several states.
 -0- 2/10/92
 /CONTACT: Robbin A. Lee of Atlas, 303-825-1200/
 (AZ) CO: Atlas Corp. ST: Colorado IN: MNG SU:


MC -- DV002 -- 8202 02/10/92 10:27 EST
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Date:Feb 10, 1992
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