UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB


(Mark  One)

[X]     QUARTERLY  REPORT  UNDER  SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
        ACT  OF  1934
                  For the quarterly period ended March 31, 2004

[ ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
        ACT  OF  1934
                      For  the  transition  period          to




                         Commission file number 33-00215

                       UNITED STATES ANTIMONY CORPORATION

                 (Name of small business issuer in its charter)


      MONTANA                                         81-0305822
      -------                                         ----------
(State or other jurisdiction                      (I.R.S. Employer
of incorporation or organization)                 Identification No.)

         P.O.  BOX  643,  THOMPSON  FALLS,  MONTANA       59873
         ------------------------------------------     -------
        (Address  of  principal  executive  offices)  (Zip  code)


       Registrant's telephone number, including area code:  (406) 827-3523



Check  whether  the issuer (1) filed all reports required to be filed by Section
13  or  15(d) of the Exchange Act during the past 12 months (or for such shorter
period  that the registrant was required to file such reports), and (2) has been
subject  to  such  filing  requirements  for  the  past  90  days.
YES     X          No
       --          --




At  May  14,  2004, the registrant had outstanding 2,472,028 shares of par value
$0.01  common  stock.





<PAGE>


                       UNITED STATES ANTIMONY CORPORATION
                         QUARTERLY REPORT ON FORM 10-QSB
                            FOR THE QUARTERLY PERIOD
                              ENDED MARCH 31, 2004



                                TABLE OF CONTENTS

<TABLE>
<CAPTION>


                                                                    Page

<S>                                                                 <C>
PART I - FINANCIAL INFORMATION

Item 1: Financial Statements . . . . . . . . . . . . . . . . . . .   1

Item 2: Management's Discussion and Analysis or Plan of Operations   6

Item 3: Controls and Procedures. . . . . . . . . . . . . . . . . .   8

PART II - OTHER INFORMATION

Item 1: Legal Proceedings. . . . . . . . . . . . . . . . . . . . .   8

Item 2: Changes in Securities. . . . . . . . . . . . . . . . . . .   8

Item 3: Defaults upon Senior Securities. . . . . . . . . . . . . .   8

Item 4: Submission of Matters to a Vote of Security Holders. . . .   8

Item 5: Other Information. . . . . . . . . . . . . . . . . . . . .   8

Item 6: Exhibits and Reports on Form 8-K . . . . . . . . . . . . .   8


SIGNATURE. . . . . . . . . . . . . . . . . . . . . . . . . . . . .   9

CERTIFICATIONS . . . . . . . . . . . . . . . . . . . . . . . . . .  10



</TABLE>




         [The balance of this page has been intentionally left blank.]






<PAGE>


                           PART  I-FINANCIAL  INFORMATION

ITEM  1.  FINANCIAL  STATEMENTS
UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY
CONSOLIDATED  BALANCE  SHEETS
<TABLE>
<CAPTION>


                                                                             (UNAUDITED)
                                                                              MARCH  31,     DECEMBER  31,
                                                                                2004            2003
                                                            ASSETS

<S>                                                                       <C>                                    <C>
Current assets:
Accounts receivable, less allowance
    for doubtful accounts of $30,000 . . . . . . . . . . . . . . . . . .  $     37,686   $     51,081
  Inventories. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       114,108        153,053
                                                                          -------------  -------------
          Total current assets . . . . . . . . . . . . . . . . . . . . .       151,794        204,134

Investment in USAMSA, net. . . . . . . . . . . . . . . . . . . . . . . .        10,263         11,913
Properties, plants and equipment, net. . . . . . . . . . . . . . . . . .       559,282        554,311
Restricted cash for bank note payable. . . . . . . . . . . . . . . . . .       105,649        105,649
Restricted cash for reclamation bonds. . . . . . . . . . . . . . . . . .        99,043         99,043
Deferred financing costs . . . . . . . . . . . . . . . . . . . . . . . .        28,125         30,000
                                                                          -------------  -------------
          Total assets . . . . . . . . . . . . . . . . . . . . . . . . .  $    954,156   $  1,005,050
                                                                           ============  =============

                                   LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
  Checks issued and payable. . . . . . . . . . . . . . . . . . . . . . .  $     94,141   $     87,927
  Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . .       548,349        909,696
  Accrued payroll and property taxes . . . . . . . . . . . . . . . . . .       151,948        197,761
  Accrued payroll and other. . . . . . . . . . . . . . . . . . . . . . .        87,806         88,085
  Judgment payable . . . . . . . . . . . . . . . . . . . . . . . . . . .        53,980         53,130
  Accrued interest payable . . . . . . . . . . . . . . . . . . . . . . .        17,106         16,645
  Payable to related parties . . . . . . . . . . . . . . . . . . . . . .       231,679        232,111
  Notes payable to bank, current . . . . . . . . . . . . . . . . . . . .       222,889        144,391
  Accrued reclamation costs, current . . . . . . . . . . . . . . . . . .       151,000        151,000
                                                                          -------------  -------------
          Total current liabilities. . . . . . . . . . . . . . . . . . .     1,558,898      1,880,746

Secured and unsecured convertible notes payable. . . . . . . . . . . . .       350,000        350,000
Notes payable to bank, noncurrent. . . . . . . . . . . . . . . . . . . .       400,422        409,141
Accrued reclamations costs, noncurrent . . . . . . . . . . . . . . . . .        57,500         57,500
                                                                          -------------  -------------
          Total liabilities. . . . . . . . . . . . . . . . . . . . . . .     2,366,820      2,697,387
                                                                          -------------  -------------

Commitments and contingencies (Note 3)
Stockholders' deficit:
  Preferred stock, $0.01 par value, 10,000,000 shares authorized:
      Series A: 4,500 shares issued and outstanding. . . . . . . . . . .            45             45
      Series B: 750,000 shares issued and outstanding. . . . . . . . . .         7,500          7,500
      Series C: 177,904 shares issued and outstanding. . . . . . . . . .         1,779          1,779
      Series D: 1,836,672 shares issued and outstanding. . . . . . . . .        18,636         18,636
  Common stock, $0.01 par value, 50,000,000 shares
    authorized; 29,948,816 and 28,114,288 shares issued and outstanding.       299,489        281,143
  Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . .    17,756,984     17,387,970
  Accumulated deficit. . . . . . . . . . . . . . . . . . . . . . . . . .   (19,497,097)   (19,389,410)
                                                                         --------------  -------------
          Total stockholders' deficit. . . . . . . . . . . . . . . . . .    (1,412,664)    (1,692,337)
                                                                         --------------  -------------
          Total liabilities and stockholders' deficit. . . . . . . . . .  $    954,156   $  1,005,050
                                                                          =============  =============
</TABLE>


  The accompanying notes are an integral part of the financial statements.
                                        1



<PAGE>


UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY
CONSOLIDATED  STATEMENTS  OF  OPERATIONS  (UNAUDITED)

<TABLE>
<CAPTION>


                                                  FOR  THE  THREE  MONTHS  ENDED
                                                    MARCH  31,     MARCH  31,

<S>                                                   <C>           <C>
                                                     2004           2003
Revenues:
  Sales of antimony products and other          $   582,415   $   1,019,496
  Sales of zeolite products                         195,085         120,700
                                                ------------  --------------
                                                    777,500        1,140,196
                                                ------------  --------------

Cost of sales:
  Cost of antimony production                       406,621         775,666
  Antimony depreciation                              10,300           9,476
  Antimony freight and delivery                      44,156          77,677
  Cost of zeolite production                        154,600         123,269
  Zeolite depreciation                               13,800          13,686
  Zeolite freight and delivery                       14,671          20,594
                                                ------------  -------------
                                                    644,148        1,020,368
                                                -----------   --------------

Gross profit                                        133,352         119,828
                                                ------------  -------------

Other operating expenses:
  Antimony general and administrative                90,540         130,884
  Antimony sales expenses                            14,068          25,568
  Zeolite general and administrative                 71,161          73,314
  Zeolite sales expenses                             19,164          14,436
                                                ------------  -------------
                                                    194,933          244,202
                                                -----------   --------------
Other (income) expense:
  Interest expense                                   27,313          16,376
  Factoring expense                                  19,279          33,565
  Interest income and other                            (486)           (605)
                                                ------------  --------------
                                                     46,106           49,336
                                                 -----------  --------------

Net loss                                        $   107,687   $     173,710
                                                ============  ==============

Net loss per share of common stock. . . .       $    Nil      $        0.01
                                             =  ============  ==============

Basic weighted average shares outstanding        28,590,273      27,027,959
                                                ============  ==============

</TABLE>



  The accompanying notes are an integral part of the financial statements.
                                       2


<PAGE>

UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY
CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS  (UNAUDITED)
<TABLE>
<CAPTION>


                                                         FOR  THE  THREE  MONTHS  ENDED
                                                           MARCH  31,     MARCH  31,
                                                             2004            2003

<S>                                                          <C>         <C>
Cash flows from operating activities:
  Net loss. . . . . . . . . . . . . . . . . . . . . . . . .  $(107,687)  $(173,710)
  Adjustments to reconcile net loss to
    net cash used by operating activities:
      Depreciation and amortization . . . . . . . . . . . .     27,625      24,662
      Series D stock issued to directors. . . . . . . . . .                  7,200
      Series D stock issued for legal services. . . . . . .                 20,000
    Change in:
        Restricted cash . . . . . . . . . . . . . . . . . .                (14,000)
        Accounts receivable . . . . . . . . . . . . . . . .     13,395     (60,252)
        Inventories . . . . . . . . . . . . . . . . . . . .     38,945      77,238
        Accounts payable. . . . . . . . . . . . . . . . . .   (211,202)    134,551
        Accrued payroll and property taxes. . . . . . . . .    (45,813)     (9,263)
        Accrued payroll and other . . . . . . . . . . . . .       (279)      4,568
        Judgment payable. . . . . . . . . . . . . . . . . .        850         850
        Accrued interest payable. . . . . . . . . . . . . .        461      (4,023)
        Payable to related parties. . . . . . . . . . . . .       (432)    (30,314)
        Accrued reclamation costs . . . . . . . . . . . . .                 (3,482)
                                                             ----------
          Net cash used by operating activities . . . . . .   (284,137)    (25,975)
                                                             ----------  ----------

Cash flows from investing activities:
  Purchases of properties, plants and equipment . . . . . .    (29,071)     (9,474)
                                                             ----------  ----------
          Net cash used in investing activities . . . . . .    (29,071)     (9,474)
                                                             ----------  ----------

Cash flows from financing activities:
  Proceeds from issuance of common stock and warrants . . .     10,000
  Proceeds from exercise of warrants. . . . . . . . . . . .    227,215
  Principal payments on notes payable to bank . . . . . . .    (30,221)    (74,370)
  Proceeds from notes payable to bank . . . . . . . . . . .    100,000      49,368
  Change in checks issued and payable . . . . . . . . . . .      6,214      60,451
                                                             ----------  ----------
          Net cash provided by financing activities . . . .    313,208      35,449
                                                             ----------  ----------
Net change in cash. . . . . . . . . . . . . . . . . . . . .          0           0
Cash, beginning of period . . . . . . . . . . . . . . . . .          0           0
                                                             ----------  ----------
Cash, end of period . . . . . . . . . . . . . . . . . . . .  $       0   $       0
                                                             ==========  ==========

Supplemental disclosures:
  Non cash financing activities:
    Common stock issued in satisfaction of accounts payable  $ 150,145
                                                             ==========


</TABLE>


 The accompanying notes are an integral part of the financial statements.
                                        3



<PAGE>

PART  I  -  FINANCIAL  INFORMATION,  CONTINUED:

UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY
NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS  (UNAUDITED)

1.   BASIS  OF  PRESENTATION:

The  unaudited  consolidated  financial  statements  have  been  prepared by the
Company  in  accordance  with  accounting  principles  generally accepted in the
United  States  of  America  for  interim  financial information, as well as the
instructions  to  Form  10-QSB.  Accordingly,  they  do  not  include all of the
information  and  footnotes required by accounting principles generally accepted
in  the  United  States  of  America  for  complete financial statements. In the
opinion  of the Company's management, all adjustments (consisting of only normal
recurring  accruals) considered necessary for a fair presentation of the interim
financial  statements  have been included. Operating results for the three-month
period  ended  March 31, 2004 are not necessarily indicative of the results that
may  be  expected  for  the  full  year  ending  December  31,  2004.  Certain
consolidated  financial statement amounts for the three-month period ended March
31,  2003  have  been  reclassified  to conform to the 2004 presentation.  These
reclassifications  had  no  effect  on  the  net  loss or accumulated deficit as
previously  reported.

For  further information refer to the financial statements and footnotes thereto
in  the  Company's  Annual Report on Form 10-KSB for the year ended December 31,
2003.

2.  LOSS  PER  COMMON  SHARE:

The  Company  accounts  for  its  income  (loss)  per  common share according to
Statement  of Financial Accounting Standards No. 128 "Earnings Per Share" ("SFAS
No.  128").  Under  the  provisions  of  SFAS No. 128, primary and fully diluted
earnings  per  share  are  replaced  with  basic and diluted earnings per share.
Basic  earnings  per share is arrived at by dividing net income (loss) available
to  common  stockholders  by  the  weighted  average  number  of  common  shares
outstanding,  and does not include the impact of any potentially dilutive common
stock equivalents.  Common stock equivalents, including warrants to purchase the
Company's  common  stock  and  common  stock  issuable  upon  the  conversion of
debentures are excluded from the calculations when their effect is antidilutive.

3.  COMMITMENTS  AND  CONTINGENCIES:

Until  1989, the Company mined, milled and leached gold and silver in the Yankee
Fork  Mining District in Custer County, Idaho. In 1994, the U.S. Forest Service,
under  the  provisions of the Comprehensive Environmental Response Liability Act
of  1980  ("CERCLA"), designated the cyanide leach plant as a contaminated site.
In  1996,  the  Idaho  Department  of  Environmental  Quality requested that the
Company  sign  a  consent  decree  related  to  completing  the  reclamation and
remediation  at  the  Preachers  Cove  mill. The Company has been reclaiming the
property and anticipates it will have the reclamation complete in the near term.

In  November  of  2001,  the  Environmental Protection Agency ("EPA") listed two
by-products  of  the Company's antimony oxide manufacturing process as hazardous
wastes  under subtitle C of the Resource Conservation and Recovery Act ("RCRA"),
and  emergency  notification  requirements for releases to the environment under
CERCLA.  On  November  26,  2002,  the  Company  received  a notice of violation
related  to  a  hazardous waste discharge that was discovered during a hazardous
waste compliance evaluation inspection conducted at the Company's Thompson Falls
antimony  facility.  In  response  to  the  notice,  the Company removed certain
antimony  materials  from  its  production area and agreed to ensure that future
releases  of  hazardous  waste  would  not occur.  At March 31, 2004, management
believes  that  no  additional  liability  will  result  from  the  violation.

                                   4

<PAGE>

UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY
NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS  (UNAUDITED),  CONTINUED:

3.    COMMITMENTS  AND  CONTINGENCIES,  CONTINUED:

The  Company's  management  believes  that  USAC  is  currently  in  substantial
compliance  with  environmental  regulatory  requirements  and  that its accrued
environmental  reclamation  costs are representative of management's estimate of
costs  required  to fulfill its reclamation obligations.  Such costs are accrued
at  the  time  the  expenditure becomes probable and the costs can reasonably be
estimated.  The  Company  recognizes,  however,  that  in  some  cases  future
environmental  expenditures cannot be reliably determined due to the uncertainty
of  specific remediation methods, conflicts between regulating agencies relating
to  remediation  methods  and  environmental law interpretations, and changes in
environmental  laws  and  regulations.  Any changes to the Company's reclamation
plans as a result of these factors could have an adverse affect on the Company's
operations.  The  range  of  possible  losses  in  excess of the amounts accrued
cannot  be  reasonably  estimated  at  this  time.

4.     BUSINESS  SEGMENTS

The  Company  has  two  operating  segments,  antimony  and zeolite.  Management
reviews and evaluates the operating segments exclusive of interest and factoring
expenses.  Therefore,  interest  expense  is  not  allocated  to  the  segments.
Selected  information  with  respect to segments for the quarter ended March 31,
2004  and  2003  are  as  follows:
<TABLE>
<CAPTION>


     2004     2003

<S>                                     <C>       <C>
Revenues:
    Antimony . . . . . . . . . . . . .  $582,415  $1,019,496
    Zeolite. . . . . . . . . . . . . .   195,085     120,700
                                        --------  ----------
                                        $777,500  $1,140,196
                                        ========  ==========
Cost of sales:
  Production and freight and delivery:
    Antimony . . . . . . . . . . . . .  $450,777  $  853,343
    Zeolite. . . . . . . . . . . . . .   169,271     143,863
  Depreciation:
    Antimony . . . . . . . . . . . . .    10,300       9,476
    Zeolite. . . . . . . . . . . . . .    13,800      13,686
                                        --------  ----------
                                        $644,148  $1,020,368
                                        ========  ==========

Gross profit . . . . . . . . . . . . .  $133,352  $  119,828
                                        ========  ==========

Other operating expenses:
  Sales expense:
    Antimony . . . . . . . . . . . . .  $ 14,068  $   25,568
    Zeolite. . . . . . . . . . . . . .    19,164      14,436
  General and administrative expense:
    Antimony . . . . . . . . . . . . .    90,540     130,884
    Zeolite. . . . . . . . . . . . . .    71,161      73,314
                                        --------  ----------
                                        $194,933  $  244,202
                                        ========  ==========

Capital expenditures:
    Antimony . . . . . . . . . . . . .  $      0  $        0
    Zeolite. . . . . . . . . . . . . .    29,071       9,474
                                        --------  ----------
                                        $ 29,071  $    9,474
                                        ========  ==========

Properties, plant and equipment, net:
    Antimony . . . . . . . . . . . . .  $122,308  $  138,410
    Zeolite. . . . . . . . . . . . . .   436,974     377,318
                                        --------  ----------
                                        $559,282  $  515,728
                                        ========  ==========
</TABLE>
                                5
<PAGE>



ITEM  2.     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATION

General

This  report  contains both historical and prospective statements concerning the
Company  and  its operations.  Prospective statements (known as "forward-looking
statements") may or may not prove to be true with the passage of time because of
future  risks  and uncertainties.  The Company cannot predict what factors might
cause  actual  results  to differ materially from those indicated by prospective
statements.

Results  of  Operations

The  Company's operations resulted in a net loss of $107,687 for the three-month
period  ended  March  31,  2004,  compared  with  a net loss of $173,710 for the
three-month  period ended March 31, 2003. The decrease in the loss for the first
quarter  of  2004 compared to the similar quarter of 2003 is primarily due to an
increase  in sales of zeolite during the first quarter of 2004 and a decrease in
general  and  administrative  and  other  operating  expenses.

Total  revenues  from  antimony product sales for the first quarter of 2004 were
$582,415  compared  with  $1,019,496  for  the  comparable  quarter  of  2003, a
decrease  of  $437,081.  During  the  three-month  period  ended March 31, 2004,
40.01%  of the Company's revenues from antimony product sales were from sales to
one  customer  and 6.54% were from sales to a second individual customer.  Sales
of  antimony  products  during  the  first  quarter of 2004 consisted of 401,496
pounds at an average sale price of $1.17 per pound.  During the first quarter of
2003  sales  of antimony products consisted of 751,681 pounds at an average sale
price  of $1.36 per pound.  The decrease in the amount of product sold is due to
the Company's customers buying antimony from Chinese suppliers at a lower price.
The  decrease in sale prices of antimony products from the first quarter of 2003
to the first quarter of 2004 is the result of competitor's bids being lower than
the  Company's  causing  the Company to have to lower its price. The company has
been  able  to  increase sales prices significantly during the second quarter of
2004.

Sales  of  zeolite  products  during  the  first  quarter  of 2004 were $195,085
compared with first quarter sales in 2003 of $120,700. The increase in sales for
the  first quarter of 2004 compared to the first quarter of 2003  was due to the
Company's  marketing  efforts  and  a  corresponding  increase  in the number of
zeolite customers. Gross profit from antimony and zeolite sales during the first
three-month  period  of 2004 was $153,238 compared with gross profit of $119,828
during  the  first  three-month  period  of  2003.

The  cost  of  antimony  sales was $406,621, or $1.01 per pound sold, during the
first  quarter  of 2004 compared to $775,666 or $1.03 per pound sold, during the
first  quarter  of 2003.  The decrease was due to a reduction in fuel prices for
the  quarter  ended  March  31,  2004 as compared to the quarter ended March 31,
2003.

The cost of zeolite sales was $154,600 for the first quarter of 2004 compared to
$123,269  during the first quarter of 2003.  The increase was principally due to
the  increase in sales of zeolite.  The Company is increasing its plant capacity
in  hopes  of  reducing  overall  production  costs.

Antimony  depreciation  for  the  first  quarter  of  2004  was  $10,300 and was
comparable  to  $9,476  for  the  first  quarter  of  2003.

Zeolite  depreciation  for  the  first  quarter  of  2004  was  $13,800  and was
comparable  to  $13,686  for  the  first  quarter  of  2003.

Antimony freight and delivery for the first quarter of 2004 was $44,156 compared
to  $77,677  of  freight  and delivery expense during the first quarter of 2003.
The  decrease  is  due  to  a  corresponding  decrease  in  antimony  sales.

                                 6

<PAGE>

Zeolite  freight and delivery for the first quarter of 2004 was $14,671 compared
to  $20,594  for  the first quarter of 2003.  The decrease is due to the Company
shipping  product  to  customers  who  pay  for  their  own freight and delivery
charges,  during  the  quarter  ended  March 31, 2004.  During the quarter ended
March  31, 2003, the Company shipped more product to warehouses and incurred the
costs  themselves.

During  the  first  quarter of 2004, the Company incurred costs totaling $71,161
associated  with  general  and  administrative  expenses  of  its  100%  owned
subsidiary,  Bear River Zeolite Company, compared to $73,314 of such expenses in
the  comparable  quarter  of  2003.

Zeolite sales expenses were $19,164 during the first quarter of 2004 compared to
$14,436 during the first quarter of 2003.  The increase in zeolite sales expense
was  due  to  a  corresponding  increase  in  zeolite  sales.

General and administrative expenses in the antimony division were $90,540 during
the first quarter of 2004 compared to $130,884 during the first quarter of 2003.
The  decrease in general and administrative expenses during the first quarter of
2004  is  due to the Company incurring legal costs associated with the filing of
their  proxy  statement  during  the first quarter of 2003.  No such expense was
incurred  during  the  first  quarter  of  2004.

Antimony  sales  expenses  were $14,068 in the first quarter of 2004 compared to
$25,568  during the first quarter of 2003. The decrease was due primarily to the
decrease  in  antimony  sales.

Interest  expense  of  $27,313  was  incurred  during  the first quarter of 2004
compared  to  $16,376  during  the  first  quarter of 2003. The increase was due
primarily  from  the  increase  in  interest  on  convertible  notes  payable.

Accounts  receivable  factoring  expense was $19,279 during the first quarter of
2004  compared  to  $33,565  during the first quarter of 2003.  The decrease was
primarily  due  to  the  decrease  in  antimony  sales.

Interest  and  other  income  was  $605 during the first quarter of 2003 and was
comparable  to  $486  during  the  first  quarter  of  2004.

Financial  Condition  and  Liquidity

At  March  31,  2004,  Company  assets  totaled  $954,156,  and  there  was  a
stockholders'  deficit  of  $1,412,664.  The  stockholders'  deficit  decreased
$279,673  from  December 31, 2003. At March 31, 2004 the Company's total current
liabilities  exceeded  its  total  current  assets  by  $1,407,104.  Due  to the
Company's operating losses, negative working capital, and stockholders' deficit,
the Company's independent accountants included a paragraph in the Company's 2003
financial  statements  relating to a going concern uncertainty. To continue as a
going  concern  the  Company must generate profits from its antimony and zeolite
sales  and  acquire  additional  capital  resources  through  the  sale  of  its
securities  or  from  short  and long-term debt financing. Without financing and
profitable operations, the Company may not be able to meet its obligations, fund
operations  and  continue  in existence. While management is optimistic that the
Company  will  be  able  to sustain profitable operations and meet its financial
obligations,  there  can  be  no  assurance  of  such.

     Cash used by operating activities during the first three months of 2004 was
$284,137,  and  resulted from the first quarter net loss of $107,687 as adjusted
by,  decreasing  accounts payable and other current liabilities and the non-cash
affects  of  depreciation  and  amortization  expenses.

Cash  used  in  investing  activities  during the first three months of 2004 was
$29,071  and primarily related to the construction of capital assets at the Bear
River  Zeolite  facility.

Net  cash  provided  by financing activities was $313,208 during the first three
months  of  2004 was primarily generated from sales of common stock and exercise
of  warrants.

During  the  quarter  ended  March  31, 2004, 66,667 shares of common stock were
issued  to  an  individual  for  $10,000  or  $0.15  per  share.

                                       7
<PAGE>


During  the  quarter  ended March 31, 2004, the Company sent a letter to warrant
holders offering a reduced exercise price for outstanding warrants.  The reduced
price  was  $0.20 per share.  The total number shares of common stock issued for
the  exercise  of  warrants  was  1,136,071 for a total sales price of $227,214.

During  the  quarter  ended  March  31,  2004, the Company satisfied outstanding
accounts  payable  with an attorney and a metals supplier in exchange for common
stock.  The  total  shares  issued  were  631,790  and the total debt relief was
$150,145.

The Company plans to offer certain of its inactive mining claims for sale during
2004  in  an  effort  to  continue  generating  cash to fund its operations.  In
addition,  the  Company  hopes  that  it  will be able to continue expanding its
zeolite  business  by  increasing marketing efforts and researching new products
and  uses  for  zeolite.

ITEM  3.     CONTROLS  AND  PROCEDURES

Based on their most recent evaluation, which was completed within 90 days of the
filing  of  this  Form  10-QSB,  the  Company's president believes the Company's
disclosure  controls and procedures (as defined in Exchange Act Rules 13a-14 and
15d-14) are effective to ensure that information required to be disclosed by the
Company  in  this  report  is  accumulated  and  communicated  to  the Company's
management,  including  its  principal executive officer and principal financial
officer,  as  appropriate,  to  allow  timely  decisions  regarding  required
disclosure.  There  were  no  significant  changes  in  the  Company's  internal
controls  or  other  factors  that  could  significantly  affect  these controls
subsequent  to the date of their evaluation and there were no corrective actions
with  regard  to  significant  deficiencies  and  material  weaknesses.


                           PART II - OTHER INFORMATION

ITEM  1.     LEGAL  PROCEEDINGS

None

ITEM  2.     CHANGES  IN  SECURITIES

Neither  the  constituent  instruments  defining  the rights of the registrant's
securities  filers  nor  the  rights  evidenced  by the registrant's outstanding
common  stock  have  been  modified,  limited or qualified.  The Registrant has,
however, issued 1,834,528 shares of its common stock in a sale to an individual;
various  parties  exercising  warrants  held  by  them; and to satisfy creditors
accounts  payable  (See  Item  2).

ITEM  3.     DEFAULTS  UPON  SENIOR  SECURITIES

The  registrant  has  no  outstanding  senior  securities.

ITEM  4.     SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

None

ITEM  5.     OTHER  INFORMATION

None

ITEM  6.     EXHIBITS  AND  REPORTS  ON  FORM  8-K

     Exhibit:               None


     Reports  on  Form  8-K     None


                                 8
<PAGE>

                                    SIGNATURE


  Pursuant to the requirements of Section 13 or 15(b) of the Securities Exchange
    Act of 1934, the Registrant has duly caused this report to be signed on its
              behalf by the undersigned, thereunto duly authorized.


                       UNITED STATES ANTIMONY CORPORATION
                                  (Registrant)



          By:/s/  John  C.  Lawrence            Date:  May  14,  2004
             --------------------------------------------------------
                    John C. Lawrence, Director and President
             (Principal Executive, Financial and Accounting Officer)

                                      9

<PAGE>
                                  CERTIFICATION

I,  John  C.  Lawrence,  certify  that:

1.     I  have  reviewed  this  quarterly report on Form 10-QSB of United States
Antimony  Corporation.

2.     Based  on my knowledge, this quarterly report does not contain any untrue
statement  of a material fact or omit to state a material fact necessary to make
the  statements  made, in light of the circumstances under which such statements
were  made,  not misleading with respect to the period covered by this quarterly
report;

3.     Based  on  my  knowledge,  the  financial statements, and other financial
information  included  in this quarterly  report, fairly present in all material
respects  the  financial  condition, results of operations and cash flows of the
registrant  as  of  and  for  the  periods  presented  in this quarterly report.

4.     I am responsible for establishing and maintaining disclosure controls and
procedures  (as  defined  in  Exchange  Act  Rules  13a-14  and  15d-14) for the
registrant  and  have:

a.     designed  such disclosure controls and procedures to ensure that material
information  relating  to the registrant, including its consolidated subsidiary,
is made known to us by others within that entity, particularly during the period
in  which  this  quarterly  report  is  being  prepared;
b.     evaluated  the  effectiveness of the registrant's disclosure controls and
procedures  as  of  a  date  within  90  days  prior  to the filing date of this
quarterly  report  (the  "Evaluation  Date");  and
c.     presented  in  this  quarterly  report  our  conclusions  about  the
effectiveness  of  disclosure controls and procedures based on our evaluation as
of  the  Evaluation  Date;

5.      I  have  disclosed,  based  on  my  most  recent  evaluation,  to  the
registrant's  auditors  and  the  audit  committee  of the registrant's board of
directors  (or  persons  performing  the  equivalent  functions);

a.     all  significant  deficiencies  in  the  design or operations of internal
controls  which  could  adversely  affect  the  registrant's  ability to record,
process,  summarize  and  report  financial  data  and  have  identified for the
Registrant's  auditors  any  material  weaknesses  in  internal  controls;  and
b.     any  fraud,  whether  or  not material, that involves management or other
employees who have a significant role in the registrant's internal controls; and

6.     I  have indicated in this quarterly report whether there were significant
changes in internal controls or in other factors that could significantly affect
internal controls subsequent to the date of my most recent evaluation, including
any  corrective  actions  with  regard  to significant deficiencies and material
weaknesses.

Date:     May  14,  2004
          --------------


/s/  John  C.  Lawrence
-----------------------
John  C.  Lawrence
President,  Director  and  Principal  Financial  Officer
                            10

<PAGE>

CERTIFICATION  PURSUANT  TO  THE  SARBANES-OXLEY  ACT
18  U.S.C.  SECTION  1350
AS  ADOPTED  PURSUANT  TO  SECTION  906
OF  THE  SARBANES-OXLEY  ACT  OF  2002

I,  John  C.  Lawrence,  President,  Director and Principal Financial Officer of
United  States  Antimony  Corporation  ("the  Registrant")  do  hereby  certify,
pursuant  to  18  U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley  Act  of  2002,  that,  to  my  knowledge:

1.     This  Quarterly  Report  on  Form 10-QSB of the Registrant for the period
ended  March 31, 2004, as filed with the Securities and Exchange Commission (the
"report"), fully complies with the requirements of Section 13(a) or 15(d) of the
Securities  Exchange  Act  of  1934;  and

2.     The  information contained in the report fairly presents, in all material
respects,  the  financial condition and results of operations of the Registrant.

Date:     May  14,  2004
          --------------


/s/John  C.  Lawrence
---------------------
John  C.  Lawrence
President,  Director  and  Principal  Financial  Officer


                               11

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