Atlas Mining Earns Mining Contract to Develop Upper Sunshine Mine: Expects $2.8 Million Revenue

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| Source: Atlas Mining Company

OSBURN, Idaho, Feb. 1, 2006 (PRIMEZONE) -- Atlas Mining Company (OTCBB:ALMI) reports today its contracting entity, Atlas Fausett Contracting, has entered into a contract with Sterling Mining Company (Pink Sheets:SRLM) to drive a new tunnel into the Sunshine Mine located near Kellogg, Idaho. The tunnel will be approximately 5,700 feet in length and be driven from above the mine office complex easterly into the property. The project will take 15 months to complete and is expected to create a revenue stream for Atlas Mining Company of approximately $2.8 million.

According to Atlas Operations Manager, Ron Short, "We have worked with Sterling in the past and are pleased to be involved with this project. We have begun assembling a great crew, and will work hard to make this project a success." The Atlas Fausett Contracting group recently completed a project in Alaska, and is using some of those hands for this new project.

About Atlas Mining Company

Atlas Mining Company is a diversified natural resource company with 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 in the nanotechnology fields and has created exciting new 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 Safe Harbor Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. Atlas Mining Company undertakes no duty to update these forward-looking statements.

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Trevor Blank
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