X0203 3/A 2009-02-17 2009-03-26 0 0000008328 ATLAS MINING CO ALMI 0001459133 Carney Christopher T 110 GREENE STREET, SUITE 1101 NEW YORK NY 10012 0 1 0 0 Interim CFO Stock Option Right to Purchase .70 2019-01-01 Common Stock 6583277 I Material Advisors LLC The original Form 3 reported an excessive number of shares subject to the Stock Option due to an error in calculation of Atlas Mining Company's outstanding shares which was identified and corrected following reporting person's appointment as an officer of Atlas Mining Company. The correct number of shares subject to the Stock Option is 6,583,277 as reported above. The Stock Option vests in 36 installments, the first two on February 23, 2009 and the remaining 34 on a monthly basis thereafter. The Stock Option is owned by Material Advisors LLC in which reporting person owns a minority interest. This and the original filing will not be deemed an admission that reporting person is a beneficial owner of the Stock Option or the Common Stock into which the Stock Option is convertible and because voting and investment decisions of Material Advisors require and are made by three or more individuals the ownership of the Stock Option and all of the Common Stock into which the Stock Option is convertible is expressly disclaimed. Except for the amendment in this amended Form 3 the original Form 3 of reporting person filed on March 26, 2009 remains in effect. /s/ Christopher T. Carney 2009-04-28