Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Devers Robert J
  2. Issuer Name and Ticker or Trading Symbol
METALLINE MINING CO [MMG]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Financial Officer
(Last)
(First)
(Middle)
C/O METALLINE MINING COMPANY, 6400 S FIDDLERS GREEN CIRCLE, SUITE 950
3. Date of Earliest Transaction (Month/Day/Year)
08/23/2010
(Street)

GREENWOOD VILLAGE, CO 80111
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               10,000 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (1) $ 4.3             06/18/2007 06/18/2017 Common Stock 250,000   250,000 D  
Stock Options (2) $ 2.18             01/18/2008 01/18/2018 Common Stock 100,000   100,000 D  
Stock Options (3) $ 0.34             02/11/2009 02/11/2019 Common Stock 34,000   34,000 D  
Stock Options (4) $ 0.34             02/11/2009 02/11/2019 Common Stock 27,875   27,875 D  
Stock Options (5) $ 0.72 08/23/2010   A   500,000   08/23/2010 08/23/2015 Common Stock 500,000 $ 0 500,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Devers Robert J
C/O METALLINE MINING COMPANY
6400 S FIDDLERS GREEN CIRCLE, SUITE 950
GREENWOOD VILLAGE, CO 80111
      Chief Financial Officer  

Signatures

 /s/ Robert J. Devers   08/24/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Options granted pursuant to the Company's 2006 Stock Option Plan on June 4, 2007, and such options are currently vested in full.
(2) Options granted pursuant to the Company's 2006 Stock Option Plan on January 18, 2008, and such options are currently vested in full.
(3) Options granted pursuant to the Company's 2000 Equity Incentive Plan in February 2009, the options vested immediately upon grant.
(4) Options granted pursuant to the Company's 2006 Stock Option Plan in February 2009, the options vested immediately upon grant.
(5) Options granted pursuant to the Company's 2010 Stock Option Plan on August 23, 2010. This option vests as follows: 1/3 vested immediately upon grant, 1/3 vest on August 23, 2011, and the final 1/3 vest on August 23, 2012. This transaction is exempt from 16(b) pursuant to Rule 16b-3(d).

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