Atlas Mining Announces Dragon Mine Operations Poised to begin in April of 2004

Osburn, Idaho March 18, 2004--Atlas Mining Company (OTCBB: ALMI), a natural resource and mining company, announced today that it has completed negotiations and secured a commitment for a $500,000 equipment line of credit to assist the company in the acquisition of mining and processing equipment for its Dragon Mine project in Juab County, Utah.

In an earlier announcement Atlas disclosed the purchase of the primary processing equipment from a Canadian manufacturer, scheduled for delivery for the end of March. In preparation of completing the purchase agreement, a financing arrangement was negotiated with Keystone Capital of Costa Mesa, California. Atlas takes on equipment financing rather than issue shares and dilute shareholders.

Atlas Mining President and CEO William Jacobson stated, "With this credit line, our previous sales from the SB2, and our recently announced strategic alliance with First American Scientific (OTCBB: FASC), we are in the best position we've ever been in to get the Dragon Mine into production this spring. We have been very methodical in our approach while trying to bring this very valuable commodity out of the ground. While taking debt can sometimes be a concern, our shares are too undervalued to issue at today's price, and we felt the prudent approach was to not dilute the shareholders."

Although the snow level at the mine site still does not permit re-entry to the property, plans are being made to mobilize equipment and manpower. Company personnel will begin snow removal at the mine in the coming weeks in an effort to accelerate the necessary ground thaw and moisture evaporation. The company has, ready buyers, so a clear path into the mine, as quickly as possible, is critical.

Jacobson continued, "We are scheduled to start work at the Dragon Mine this spring. Delivery of the KDS processing plant is scheduled for March 31. Between now and then we will start our mining activities. Securing this credit line was critical for us to begin operations in Utah this spring."

Keystone Capital, Inc. is a private equity investment advisory firm that, along with its affiliates, manages in excess of $50 million in committed capital. The company has been in the equipment financing business since 1994.

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: 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.

Contact Information:
John Roskelley, President, First Global Media, 480.219.0886

The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the Annual Report on Form 10K for the fiscal year ended December 31, 2002, as well as the Quarterly Reports and Current Reports on Form 8-K by the company.






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