X0306 4 2015-12-14 0 0000066649 MINES MANAGEMENT INC MGN 0001281821 BABCOCK RUSSELL C 1418 E. KRISTIANNA CIRCLE SALT LAKE CITY UT 84103 1 0 0 0 Stock Options (Right to Buy) 1.74 2015-12-14 4 D 0 50000 D 2016-01-14 Common Stock 50000 0 D Stock Options (Right to Buy) 0.20 2015-12-14 4 A 0 50000 A 2016-01-14 Common Stock 50000 50000 D Stock Options (Right to Buy) 1.19 2015-12-14 4 D 0 25000 D 2017-07-18 Common Stock 25000 0 D Stock Options (Right to Buy) 0.20 2015-12-14 4 A 0 25000 A 2017-07-18 Common Stock 25000 25000 D Stock Options (Right to Buy) 1.05 2015-12-14 4 D 0 25000 D 2018-02-19 Common Stock 25000 0 D Stock Options (Right to Buy) 0.20 2015-12-14 4 A 0 25000 A 2018-02-19 Common Stock 25000 25000 D The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on July 14, 2010 and vested 100% on January 14, 2011. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on July 18, 2012 and vested 100% on July 18, 2012. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on February 19, 2013 and vested 100% on February 19, 2013. /s/ Glenn M. Dobbs for Russell C. Babcock Pursuant to Power of Attorney 2015-12-16