UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Earliest Event Reported: ~~January~~July 622, 2005

METALINE CONTACT MINES

(Name of Small Business Issuer in its charter)

Washington	000-31025	991-779945
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification Number)
(State or other jurisdiction of	(Commission File Number)	(IRS Employer
incorporation or organization)		Identification Number)


W. 3848 Turtle Patch Road, Pine River, WI		54965

(Address of principal executive offices)		(Zip Code)

920-987-5317
Issuer’s telephone number

N/A
(Former name, former address, and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o___Written ~~Written~~ communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o___Soliciting ~~Soliciting~~ material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a –— 12)

~~o Pre~~___Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d –— 2(b)

~~o Pre~~___Pre-commencement communications pursuant to Rule 13e-4© under the Exchange Act (17 CFR 240.13e –— 4(c))

SECTION 13 –— ~~REGISTRANT’S~~SECURITIES ~~BUSINESS~~ AND ~~OPERATIONS~~TRADING MARKETS

Item 13.0102 –— ~~Entry~~Unregistered ~~into~~Sales aof ~~Material~~Equity ~~Definitive Agreement~~Securities

On ~~January~~July 322, 2005, Metaline Contact Mines (the “Company”) ~~executed~~issued a1,000,000 ~~Mining~~shares ~~Lease~~of ~~with~~its ~~New Jersey~~authorized, ~~Mining~~but ~~Company~~unissued, oncommon ~~the~~stock, ~~Company’s~~par ~~Golden~~value ~~Chest~~$0.05 ~~Mine~~per share, to Paymaster Resources Incorporated (“Paymaster”).

~~The~~On ~~lease~~January 10, is2004, ~~for~~the ~~15-years~~Company ~~and~~entered ~~thereafter~~into asan ~~long~~Agreement aswith ~~minerals~~Paymaster ~~are~~to ~~being~~acquire ~~mined~~Paymaster’s mineral lease on the Golden Chest Mine, ~~processed~~near orMurray, ~~marketed~~Idaho, and Paymaster’s exploration agreement ~~from~~with ~~the~~New ~~mine.~~Jersey ~~Upon~~Mining ~~execution~~Company. ofThe ~~the~~Paymaster ~~lease~~shareholders approved the ~~Company~~Agreement ~~received~~at a ~~payment~~special meeting ~~from~~on ~~New~~February 23, ~~Jersey~~2004. ~~Mining of~~The ~~100~~Company issued Paymaster 466,~~000~~954 shares of ~~their~~its authorized, but unissued common stock. ~~The~~In ~~Company~~the ~~also~~event ~~receives~~the aproperties 3%subject ~~Net~~to ~~Smelter~~the ~~Return~~Golden ~~(“NSR”)~~Chest Lease commence ~~royalty,~~commercial ~~with~~production ~~additional~~during ~~royalties~~the tenure of upthe toexploration 6%agreement ifwith ~~gold~~New ~~prices~~Jersey ~~exceed~~Mining Company, ~~certain~~or ~~inflation~~any ~~adjusted gold~~lease ~~prices~~as a result thereof, ~~and~~the 50Company will pay Paymaster an additional 1,000 ,000 shares of ~~New Jersey~~it’s ~~common~~authorized, ~~stock~~but ~~for each 10~~unissued,~~000~~ ~~ounces~~common ofstock. ~~gold~~On ~~produced from~~July 4, 2005, the Golden Chest Mine commenced ~~during~~commercial production according to the ~~term~~terms of the ~~lease~~Agreement with Paymaster.

InThe ~~a press release dated January 6, 2005, the~~ Company ~~announced~~valued the ~~execution~~transaction ofat ~~the Mining Lease~~$250,000.

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01 Financial Statements and Exhibits.

99.1 Press Release issued January 6, 2005.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

Dated: January 6, 2005	METALINE CONTACT MINES
Dated: August 4, 2005		METALINE CONTACT MINES
	~~By:~~	~~/s/ John W. Beasley~~By:	/s/ John W. Beasley
		John W. Beasley
			John W. Beasley Secretary/Treasurer/CFO
		Secretary/Treasurer/CFO

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