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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 WV0PsuUYcQzcD3jCRS0waD3b1Lw1KaI9/htmv8CTQxFz5MErG+f35ZOU0JbrprcR
 Ort/8YzCTrL6ontpAJL/Gg==

<SEC-DOCUMENT>0001144204-08-044712.txt : 20080807
<SEC-HEADER>0001144204-08-044712.hdr.sgml : 20080807
<ACCEPTANCE-DATETIME>20080807194138
ACCESSION NUMBER:		0001144204-08-044712
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080514
FILED AS OF DATE:		20080807
DATE AS OF CHANGE:		20080807

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INDEPENDENCE LEAD MINES CO
		CENTRAL INDEX KEY:			0000050073
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		IRS NUMBER:				820131980
		STATE OF INCORPORATION:			AZ
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 717
		CITY:			WALLACE
		STATE:			ID
		ZIP:			83873
		BUSINESS PHONE:		2087532525

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BERKHAUG GORDON
		CENTRAL INDEX KEY:			0001431122

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00316
		FILM NUMBER:		081000099

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		509 326 2860

	MAIL ADDRESS:	
		STREET 1:		922 WEST 32ND AVNEUE
		CITY:			SPOKANE
		STATE:			WA
		ZIP:			99203
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v122463_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-05-14</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000050073</issuerCik>
        <issuerName>INDEPENDENCE LEAD MINES CO</issuerName>
        <issuerTradingSymbol>NONE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001431122</rptOwnerCik>
            <rptOwnerName>BERKHAUG GORDON</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>922 WEST 32ND AVNEUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SPOKANE</rptOwnerCity>
            <rptOwnerState>WA</rptOwnerState>
            <rptOwnerZipCode>99261</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-05-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10.25</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>233593</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>/s/  Gordon Berkhaug</signatureName>
        <signatureDate>2008-08-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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