PSE Circular for Brokers No. 330-98

March 10, 1998 PSE CIRCULAR FOR BROKERS NO. 330-98 March 9, 1998 PRESS RELEASE The directors of Atlas Consolidated Mining and Development Corp. (Atlas) announce that the new investor group, Minoro Mining and Exploration Corporation (Minoro) has completed the bankable feasibility study for the rehabilitation and re-opening of its Cebu Copper Mines. The joint financial advisors (Rothschild of Australia) of Minoro, and Atlas, have appointed Behre Dolbear Australia (BDA), an international mining consulting company, to audit the bankable feasibility study prepared by Minoro. BDA is an associated company of Behre Dolbear and Company, Inc. of the U.S.A. The firm specializes in mineral evaluations, due diligence assessments, technical audits, independent experts' reports and strategic planning as well as technical geological, mining and process engineering and consulting. dctai From review of the Minoro Feasibility Study on the rehabilitation and development of the Carmen open pit and underground mines, BDA considers that the project is technically feasible and, subject primarily to commodity prices, represents an economically viable operation under the selected parameters. As such, the due diligence report was signed by BDA February 1998. The preparation of the Feasibility Study was headed by Mr. John Reiss. widely experienced in mining construction and production and, in particular, is knowledgeable in block-caving mining operations, both in the U.S.A. (Henderson Mine) and South Africa (Palabora). Assisting him in the preparation of the study is a select group of retained/recalled ACMDC technical staff familiar with the operation. In addition, Minoro has retained the services of several international and local technical groups including the Kvaerner group, which is the largest engineering group in the world. Minoro and its financial advisors have commenced the sourcing of funding needed to bring the Toledo Copper mine back into full-scale commercial operation.