Atlas Mining Company Enters into Collaborative Agreement With NaturalNano Inc.

Jan 19, 2005, 00:00 ET from Atlas Mining Company

    OSBURN, Idaho, Jan. 19 /Xinhua-PRNewswire/ -- Atlas Mining Company
 (OTC Bulletin Board:   ALMI), announced today that the company has sold 500 tons
 of halloysite clay to NaturalNano Inc. and has agreed to collaborate in the
 development and implementation of a proprietary separation process.  Atlas and
 its partner NanoDynamics will work closely with NaturalNano.
     Atlas Mining was awarded the supply contract by NaturalNano Inc., a
 technology firm that develops new processing techniques and commercial
 applications of natural nanoscale materials.  The supply agreement could make
 Atlas one of the world's largest providers of a unique mineral that contains
 natural nanotubes -- hollow tubes that are billionths of a meter in diameter.
 Researchers believe the natural nanotubes can become a central component of a
 new generation of nano-engineered products and technologies.
     William Jacobson, CEO of Atlas Mining said, ''NaturalNano has taken a very
 serious interest in our unique halloysite due to its tubular structure.  They
 specialize in processing systems for nano-size materials, and we think that by
 utilizing their system, we can create an even greater value for our product.''
 NaturalNano has remitted an initial payment of $125,000 and will process the
 clay on-site at Atlas Mining's Dragon Mine in Juab County, Utah for its own
 use.  ''The future value of this product is not yet known.  However, we expect
 to realize over $500 per ton for this order and will end up with a processing
 method that will bring us even greater value,'' stated Jacobson.  Atlas will
 have the right to license NaturalNano's proprietary separation process once
     The Dragon Mine halloysite clay contains naturally occurring halloysite
 nanotubes, based on an inorganic molecule composed of aluminum, silicon,
 hydrogen, and oxygen, which formed in the earth from hydrothermal alteration
 and surface weathering of aluminosilicate minerals.  Like carbon nanotubes,
 halloysite nanotubes are long, hollow tubes, allowing them to store and
 deliver a variety of materials, with external diameters ranging from less than
 100 nanometers (nm.) up to several microns (or micrometers) and internal
 diameters ranging from under 20 nm. to 200 nm. or more.
     Unlike carbon nanotubes, naturally occurring halloysite nanotubes are
 inexpensive, readily available in quantity, environmentally benign, and safe
 and easy to process.  Halloysite nanotubes don't clump together, making them
 ideal for use in electronic fabrication and other high-tech ceramic-composite
 applications.  The potential marketplace for naturally occurring nanotubes
 crosses numerous industries, representing significant potential revenues.
     ''It is our intent to work directly with NaturalNano and NanoDynamics to
 provide industrial users with a refined and predictable nanotubular
 material,'' concluded Jacobson.
     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 .
     About NaturalNano Inc.
     NaturalNano, a subsidiary of Technology Innovations, LLC
 ( ) based in Rochester, N.Y., was formed to pursue
 processing and applications of naturally occurring nanoscale materials such as
 halloysite or materials that can be manufactured at very low cost and in high
 quantity.  NaturalNano currently has a team of scientists and engineers
 developing new processing methods as well as commercial applications for
 halloysite.  More information about NaturalNano can be found at , or by contacting company representatives at
 585-214-8000 or
     About NanoDynamics, Inc.
     NanoDynamics, Inc. is a leading company in the field of nanotechnology and
 manufacturer of superior nanomaterials that will dramatically improve the form,
 function and performance of a wide range of both industrial and consumer
 products.  The Company is uniquely positioned, utilizing proprietary and
 protected technologies, to commercially manufacture economical, high quality
 nanomaterials that will enable revolutionary advancements in industries
 including electronics, semiconductors, consumer products, fuel cells,
 transportation, energy and biotechnology.  For further information, please
 visit the Company's website at .
     For more information, please contact:
      For Atlas Mining Company:
      John Roskelley, President,
      First Global Media
      Tel:   +1-480-902-3110
      Michael Riedlinger, VP New Business Development,
      Technology Innovations, LLC
      Tel:   +1-585-214-8000

SOURCE Atlas Mining Company