VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 3, 2010) - Atacama Minerals Corp. (TSX VENTURE:AAM) ("Atacama" or "the Company") is pleased to report its financial and operating results for the year ended December 31, 2009.

In 2009 the Company benefited from operational improvements, higher iodine prices and lower operating costs. Net income for 2009 was US$2.9 million or US$0.02 per share reflecting higher income from mining operations and a foreign currency translation gain from the strengthening of the Canadian funds against the US dollar as the Company maintains a large portion of its cash in Canadian dollars.

Subsequent to year end the Company continues to have consecutive months of enhanced production reflecting the determination and strong efforts of the Company´s workers. Modifications, optimization and adjustments to the leach pads, processing plant and blow out towers all had a positive effect on throughput and recoveries. I am also proud to inform our shareholders that the Company continues to maintain an excellent safety and environmental record. Our commitment to our people and the environment remains strong.

Financial and Operational Highlights

	Three Months Ended December 31, 2009	Three Months Ended December 31, 2008 (Restated)	Year Ended December 31, 2009	Year Ended December 31, 2008 (Restated)
Financial Highlights In US $'000, except for data per share
Revenue	9,060	4,931	29,426	20,579
Net Income (loss)	93	(5,786)	2,867	(12,358)
Earnings (loss) per Share	0.01	(0.04)	0.02	(0.09)
Earnings (loss) before interest, foreign exchange on cash balances, income taxes, depletion, depreciation and amortization	898	(873)	4,323	(3,870)
Operating Highlights
Tonnes Mined (Mt)	847,345	1,050,299	3,203,373	2,592,083
Iodine Grade (ppm)	633	595	570	659
Iodine Produced (Mt) (000's)	318	203	1,096	844
Iodine Sold (Mt) (000's)	338	205	1,086	861

The Company, however, still had its challenges during the year. Commissioning efforts indicate that the agitated leach plant crushing and grinding circuit needs to be reconfigured, to handle the various ore types found at Aguas Blancas. Options were studied throughout the year and the Company will be installing a fine crushing and screening system in the coming months. We are striving to have the agitated leach plant operational within the next twelve months. Bringing this agitated leach plant on stream will be an important step in improving production and extending the mine life.

Once this hurdle is passed, we will turn our attention to developing our nitrate reserves. We had previously completed a feasibility study on constructing a nitrate fertilizer plant that would produce approximately 70,000 tonnes of nitrate fertilizer per year. The nitrate fertilizer plant would process the nitrate salt-bearing brine solution currently produced from our iodine operations. An update of the feasibility study will be undertaken once the agitated leach plant is proven to run at expected capacity, providing the appropriate feed to the nitrate plant.

Lastly for Aguas Blancas, our exploration program remains strong. This year we will focus on converting resource to reserve to more than cover mined ore, as well as solidifying the additional resources we are encountering in the area. Aguas Blancas has a long mine life ahead of it because of the success of our exploration strategy.

During the year, we commenced an exploration program on our Salvador Potash project in Brazil. This is an exciting new opportunity for the Company which shows excellent potential based on historical work. We are now completing the drilling of our first hole to test that potential – these are deep holes targeting sylvite potash minerals in sedimentary beds 1,000 to 1,500 metres below surface. We expect the results from our first hole by the end of the second quarter, 2010.

Our goal with Atacama is to build it into one of the leading companies in the industrial minerals sector – one that is capable of competing at the top level internationally. Atacama has a solid foundation and is positioned for that growth. We look forward to another great year in 2010.

On behalf of the Board,

Tim Miller, President and CEO

About Atacama Minerals

Atacama Minerals Corp. is a Canadian company focused on the discovery and development of economic industrial minerals projects in South America. The Company produces iodine from its Aguas Blancas mine in northern Chile. In addition, the Company holds a potash exploration project in northeastern Brazil.

This news release contains forward-looking statements concerning the Company's plans for its properties. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of its properties, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described in the Company's periodic filings with the British Columbia Securities Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.