Welcome to the Atlas Mining Class Action Settlement Website.

The following is a summary of information presented in more detail in the Notice, which Class Members should have received in the mail, and which you can access by clicking the box to the left. Since this is just a summary, you should read the full Notice for additional details.

Please read this information carefully. If you are a Class Member (as defined below), your rights will be affected by these proceedings and you may be entitled to receive benefits under a proposed $1,250,000 class action settlement.

Securities Brokers and other Nominees: Please see instructions on page 7 of the Notice.

THE COURT’S FAIRNESS HEARING
The Court will hold a hearing on January 19, 2010, at 9:30 a.m., at the United States District Court for the District of Idaho, 550 W. Fort Street, Boise, ID 83724. At this hearing, the Court will consider whether the proposed Settlement is fair, reasonable and adequate. If there are objections, the Court will consider them. The Court will listen to people who have asked to speak at the hearing. The Court will also decide whether to approve the payment of fees and expenses to Class Counsel, including the awards to Lead Plaintiffs and the Plan of Allocation.

WHAT IS THIS LAWSUIT ABOUT?
Lead Plaintiffs allege that Defendants violated the federal securities laws by making false and misleading statements during the Class Period regarding Atlas’s business and prospects in publicly disseminated press releases and SEC filings regarding the extent of a deposit of valuable halloysite clay on Atlas property, the availability and quality of halloysite for sale, and claimed sales of halloysite. Lead Plaintiffs also contend that, on October 9, 2007, Atlas announced that its financial statements for the fiscal years ended December 31, 2004, 2005 and 2006 were materially false and misleading and had to be restated. Similarly, Lead Plaintiffs allege that Atlas admitted that restatements were necessary because Atlas had wrongfully inflated its revenues and under-reported net losses and long-term liabilities by improperly recognizing as revenues speculative sales of halloysite. Finally, Lead Plaintiffs allege that when Defendants disclosed the truth about the actual financial results, Class Members suffered damages as a result of the decline in the price of Atlas stock.

Defendants deny all of Lead Plaintiffs’ allegations and further deny that they did anything wrong. Defendants also deny that Lead Plaintiffs or the Class suffered damages or that the price of Atlas common stock was artificially inflated by reasons of alleged misrepresentations, non-disclosures or otherwise.

THE SETTLEMENT BENEFITS
Atlas has agreed to pay $1.25 million in cash to settle this case (the “Settlement Fund”). This $1.25 million will be placed into a bank account that will earn interest. The Settlement Fund, plus interest, minus costs, fees and expenses (the “Net Settlement Fund”), will be divided among all eligible Class Members who send in valid Proof of Claim forms (“Claim Form”).

THE OPTIONS AVAILABLE TO CLASS MEMBERS UNDER THIS SETTLEMENT
If you are a Class Member, you have the following options:

FILE A PROOF OF CLAIM FORM
To qualify to get money from the proposed Settlement, you must timely send in a completed Proof of Claim form with supporting documents (DO NOT SEND ORIGINALS) to the Claims Administrator. At the link on the left, you may get a Proof of Claim form. Please read the instructions carefully, fill out the Proof of Claim form, include all the documents the form asks for, sign it, and mail it to the Claims Administrator by first class mail, postmarked no later than May 6, 2010. The Claims Administrator needs all of the information requested in the Proof of Claim in order to determine what you may be entitled to.

EXCLUDE YOURSELF FROM THE CLASS
If you exclude yourself from the Class, you will not get any money from the proposed Settlement. You will no longer be part of the Class, and nothing that happens in the lawsuit will affect you. You will not be bound by the proposed Settlement and can sue Atlas on your own. To exclude yourself from the Class, you must mail a written request stating:

• Your name, address, and telephone number;
• The name and number of the lawsuit: In re Atlas Mining Securities Litigation, No. C-07-428;
• Your purchases and sales of Atlas stock during the Class Period including the dates, the number of shares and price paid for each purchase of Atlas stock; and
• A statement that you want to be excluded from the Class.

All exclusion letters must be sent by first class mail (although registered mail is preferred). You cannot exclude yourself from the Class by phone or email. Exclusions must be postmarked no later than December 22, 2009, to:

Jennifer Sarnelli, Esq.
Lite DePalma Greenberg & Rivas, LLC
Two Gateway Center, 12th Floor
Newark, NJ 07102

OBJECT TO THE SETTLEMENT
You can object to the proposed Settlement if you wish, but you do not have to. You can also hire your own lawyer to speak for you at your own expense. You can still share in any benefits the Class might receive from the proposed Settlement if you appear in the case. You can only object if you do not exclude yourself from the Class.

Any objection, to be heard at the Fairness Hearing, must be in writing and postmarked on or before December 22, 2009. Any such objection must include the following information:

• Your name, address, telephone number and, if applicable, e-mail address;
• A statement that you purchased Atlas stock between January 19, 2005 and October 8, 2007;
• A detailed statement of the basis of your objections to the Settlement; and
• Any supporting papers, including all documents and writings you want the Court to consider.

The objection must be mailed to Class Counsel at:

Jennifer Sarnelli, Esq.
Lite DePalma Greenberg & Rivas, LLC
Two Gateway Center, 12th Floor
Newark, NJ 07102

If you object to the proposed Settlement or otherwise request to be heard at the Fairness Hearing, you are submitting to the jurisdiction of the Court. In the event that the Court overrules your objection, you should complete a Claim Form so that you can obtain a share of the proposed Settlement Fund if you are eligible.

If you do not object to any part of the proposed Settlement, you will have waived your right to object. You will forever be barred from objecting to the proposed Settlement, or from otherwise being heard in this or any other proceeding.

FURTHER INFORMATION
Further information regarding the Litigation, the Notice and how to file your claim may be obtained by contacting the Claims Administrator or reading through the Notice and Proof of Claim links at the left. You may also contact Class Counsel at the address listed above.

IMPORTANT: THIS SITE IS NOT OPERATED ATLAS MINING COMPANY. THIS SETTLEMENT IS SUPERVISED BY CLASS COUNSEL. THE CLAIMS ADMINISTRATOR HANDLES ALL ASPECTS OF CLAIM PROCESSING. THIS IS THE AUTHORIZED WEBSITE FOR THIS SETTTLEMENT. PLEASE DO NOT RELY UPON OTHER SITES THAT SET OUT DIFFERENT AND UNAUTHORIZED INFORMATION.