EXHIBIT 99.1
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ATLAS MINERALS INC. NEWS RELEASE
2323 S. Troy Street 01-2
Bldg. 5-210 OTC (Pink Sheets): ATMR
Aurora, Colorado 80014 6.1 million shares outstanding
Tel: 303-306-0823 September 17, 2001
Fax: 303-306-1139
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ATLAS ANNOUNCES CHANGES IN MANAGEMENT AND THE BOARD
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Denver, Colorado - Atlas Minerals Inc. (the "Company") is pleased to announce
that four new directors and one prior director have been elected to the Board of
Directors of the Company by its shareholders at its annual meeting held on
Friday, September 7, 2001. Newly elected directors are: Gary E. Davis, David
Groshoff, Robert Miller and H.R. (Roy) Shipes. Douglas Cook was re-elected to
the Board. Messrs. Groshoff and Miller are affiliated with Atlas' two largest
shareholders, Pension Benefit Guaranty Corporation and Lindner Growth and Income
Fund respectively. Mr. Shipes is the Company's third largest shareholder. Mr.
Davis is a former President and Director of Atlas (1995-1996). Mr. Cook, a prior
member of the Board and consulting geologist, was previously the Chairman of
Atlas (1996-1998).
The Board elected Gary E. Davis as Chairman and Corporate Secretary and Roy
Shipes as President and Chief Executive Officer.
With this change, control of Atlas' Board of Directors transfers from its
present management to a group nominated by its largest shareholders. The new
Board contemplates no immediate change in Atlas' business or policies but will
immediately conduct a diligent review of all Company assets with a view to
maximizing value to the shareholders. This will include a review of the status
of the Andacaba mine located in Bolivia, which has been the primary asset of the
Company's wholly-owned subsidiary, Arisur Inc. In March 2001, the Company
announced that it had ceased all operations of the mine.
The Company has also acquired the legal rights to the name "Atlas Corporation"
in Colorado and is considering a change to operate under this name.
Atlas is a mining exploration and development company with properties in Nevada
and Oregon.
For further information contact H.R. (Roy) Shipes, Chief Executive Officer, at
520-889-2040.
On behalf of Atlas Minerals Inc.
"H.R. ("Roy") Shipes"
CEO and President
THE STATEMENTS CONTAINED IN THIS RELEASE, THAT ARE NOT HISTORICAL FACTS, ARE
FORWARD-LOOKING STATEMENTS UNDER THE FEDERAL SECURITIES LAW. THESE
FORWARD-LOOKING STATEMENTS ARE NO GUARANTEE OF FUTURE PERFORMANCE, AND INVOLVE
CERTAIN RISKS, UNCERTAINTIES AND PRESUMPTIONS THAT ARE DIFFICULT TO PREDICT.
ACTUAL OUTCOMES AND RESULTS MAY DIFFER MATERIALLY FROM WHAT IS EXPRESSED OR
IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. THE COMPANY TAKES NO OBLIGATION TO
UPDATE PUBLICLY ANY FORWARD-LOOKING STATEMENTS, WHETHER AS THE RESULT OF NEW
INFORMATION, FUTURE EVENTS OR OTHERWISE. THIS RELEASE IS NOT AN OFFER OF
SECURITIES FOR SALE IN THE UNITED STATES; SECURITIES MAY NOT BE OFFERED OR SOLD
IN THE UNITED STATES WITHOUT REGISTRATION OR AN EXEMPTION FROM REGISTRATION.