X0203 3 2009-02-17 0 0000008328 ATLAS MINING CO ALMI 0001459133 Carney Christopher T 630 E MULLAN AVE. SUITE D OSBURN ID 83849 0 1 0 0 Interim CFO Common Stock 788000 D Stock Option Right to Purchase .70 2019-01-01 Common Stock 6966419 I Material Advisors LLC A Stock Option for 6,966,419 shares of Common Stock of Atlas Mining Company (the "Company") was granted to Material Advisors LLC effective January 1, 2009 pursuant to a Management Agreement dated December 30, 2008 with the Company, pursuant to which Material Advisors will perform senior management services for the Company. The option will vest in 36 equal monthly installments over 3 years. Mr. Carney is the owner of a minority interest in Material Advisors LLC. This filing will not be deemed an admission that Mr. Carney is a beneficial owner of the Stock Option or any of the Common Stock covered by the Stock Option. /s/ Christopher T. Carney 2009-03-25