Looking great - waiting on March mine news
to come

Atlas Mining Company

February 10, 2004

Message to Shareholders of Atlas Mining Company

We have had a fairly quiet couple of months through the holidays and into January, but have continued to pursue our goals. The number one goal, of course, has been to get the Dragon Mine into operation this year. And we are very close to this.

During the past month we have sent samples of our product to two different ceramics users, two paint manufacturers and two international distributors. We have negotiated an agreement on a major piece of equipment for the processing of our halloysite clay and an equipment financing program with a reputable leasing company. We have also completed a fairly in depth development and mining cost study and we are shopping some of the needed equipment for this process. Our intent is to start work at the Dragon Mine as soon as the weather permits this spring. The best news about our progress is the continued interest by potential buyers due to the unique tubular quality of the halloysite. We originally got into this project because of the opportunities in the existing halloysite markets, but have found that new uses will probably dominate our sales.

Meanwhile to help us get the word out to dealers and investors about our company we have recently attended a dealer broker conference in Dallas, Texas under the sponsorship of Premier Financial Services. This conference has brought renewed interest in our company. We have been invited to speak at the prestigious Industrial Minerals conference in Barcelona, Spain, where our advisory board member, Dr Ron Price, will deliver a paper on the micro-tubular advantages of Atlas unique halloysite clay.

We are continuing our efforts to find a viable merger or acquisition candidate. Our main goal is to make sure that the candidate brings value to the Atlas shareholders and will help bring financial strength to the company.

Our contracting entity and our logging efforts brought us $300,000 in revenues in 2003. We have already created over $60,000 in revenues for the month of January. Although these numbers are small, they do help cover some of our day to day expenses through out the year.

I thank-you for your support of Atlas Mining Company and our efforts to make this a viable company that we can all be proud of.

William T Jacobson
President
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001144204%252D04%252D001163%252Etxt%26filepath%3D%255C2004%255C02%255C11%255C&symbol=ALMI

3/31/04 ALMI 15.00 Speaking at 17th Industrial Minerals International Congress

WEDNESDAY 31 MARCH

15.00
New horizons for halloysite in micro-tubular technology
Ron Price, Technical Consultant Atlas Mining Inc, USA

metalbulletin .com/events/mbcf_im17.asp

Connected?

In a patented process developed by the Naval Research Laboratory, Washington D.C., scientists have created a new method of controlled release using microtubules made from halloysite clay. These microtubules, cylindrical in shape and with a hollow core, can be used in a wide variety of products. In the case of the US Navy, researchers utilized microtubules to add anti-barnacle agents to paints used on the hulls of Navy ships. The microtubules are filled with the anti-fouling agent, which is slowly released over time.

Several U.S. companies are currently looking at microtubules for applications ranging from agricultural chemicals to paints to household products. Although these microtubules can be produced synthetically, researchers have determined that, due to its unique microstructure, halloysite clay may be the preferred source. Halloysite clay is naturally derived, nontoxic and biodegradable.

According to Dr. John Dennis of TechLink, the potential for the use of halloysite as a time-release element could open up many new markets for the process. "Microtubules are cheap compared to many synthetic time-release vehicles -- this opens up a number of markets that could not previously afford the technology."

William Jacobson, President and CEO of Atlas Mining, stated, "We are very interested in the development of new applications for halloysite and are closely monitoring the progress of the Navy in developing new applications with US companies. With the help of MSU's TechLink center, we hope to see these applications successfully commercialized in the coming years." He went on to say, "As new uses are found, we plan to aggressively market our product to take advantage of a growing demand."
http://www.mbendi.co .za/a_sndmsg/news_view.asp?I=47351