X0303 4 2009-05-01 0 0000008328 ATLAS MINING CO ALMI 0001450548 Weiss Morris D 110 GREENE ST., SUITE 1101 NEW YORK NY 10012 1 0 0 0 Stock Option Right to Buy .70 2009-05-01 4 A 0 100000 0.00 A 2019-05-01 Common Stock 100000 650000 D The options subject to this grant will vest upon the conclusion of final settlement agreements covering the In re Atlas Mining Company Securities Litigation Class Action and the related insurance coverage litigation involving Atlas Mining Company (the "Company") as more fully described in the Form 8-K filed on May 4, 2009 by the Company. /s/ Morris D. Weiss 2009-05-05