X0306 4 2016-01-01 0000008328 Applied Minerals, Inc. AMNL 0001600854 BETZ ROBERT 110 GREENE STREET SUITE 1101 NEW YORK NY 10012 1 COMMON STOCK OPTION (RIGHT TO BUY) 0.28 2016-01-01 4 A 0 50000 0.28 A 2016-03-31 2026-01-01 COMMON STOCK 50000 248752 D On January 1, 2016, Mr. Betz was granted an option to purchase 50,000 shares of common stock of the Company at $0.28 per share. The term of the option is 10 years. The option vests equally on March 31, June 30, September 30 and December 31, 2016. The option is an annual grant provided to directors of the Company. The reporting of this grant is late due to an administrative error. /s/ Robert Betz 2016-03-30