X0306 4 2012-11-20 0 0000008328 Applied Minerals, Inc. AMNL 0001453391 Zeitoun Andre 110 GREENE ST. NY NY 10012 1 1 0 0 President and CEO COMMON STOCK OPTION (RIGHT TO BUY) 1.66 2012-11-20 4 A 0 1742792 1.66 A 2013-02-01 2022-11-19 COMMON STOCK 1742792 7435550 D On November 20, 2012, the Board of Directors granted Mr. Zeitoun 1,742,792 options to purchase common shares at $1.66 per share. The options vest monthly over a 12-month period starting February 1, 2013. The option grant was previously communicated on Applied Minerals, Inc.'s Form 8-K filed on November 26, 2012. Includes the following option grants: (i) options (held through Material Advisors) to purchase 3,949,966 shares of common stock at $0.70 per share granted in January 2009, fully vested and expiring in January 2019; (i) options (held through Material Advisors) to purchase 1,742,792 shares of common stock at $0.83 per share, granted in January 2011, fully vested and expiring in January 2021; and (iii) options to purchase 1,742,792 shares of common stock as described in footnote (1). /s/ Andre M. Zeitoun 2013-04-09