Message #18 From:
Stock News Bot Date: September 8, 2005 02:15:00 AM
ALMI News Atlas Mining Company Buys Dragon Mine
OSBURN, Idaho--(BUSINESS WIRE)--Sept. 8, 2005--Atlas Mining Company (OTCBB:ALMI) announced today that they purchased the Dragon Mine from Chester Mining Company. The agreed purchase price of $500,000 was received by Chester, and the warranty deed signed and returned to the company for filing with the Juab County Recorder. According to William T. Jacobson, President and CEO, "We are very happy to be able to finalize this sale. With the Dragon Mine completely under our control, we will continue to develop and bring value to this property." Jacobson went on to explain that according to his commitment to the recent group of investors, the company has taken steps to clean up all debts, to acquire the Dragon Mine and to put the property into a positive cash flow position.
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, 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 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 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 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.
