X0306 4 2016-05-11 0000008328 Applied Minerals, Inc. AMNL 0001600367 ALI ZAMANI 110 GREENE STREET SUITE 1101 NEW YORK NY 10012 1 COMMON STOCK OPTION (RIGHT TO BUY) 0.25 2016-05-11 4 A 0 50000 0 A 2016-05-11 2021-05-11 COMMON STOCK 50000 354621 D On May 11, 2016, Mr. Zamani was granted an option to purchase 50,000 shares of common stock of the Company at $0.25 per share. This grant represents 100% of the $12,500 fee payable to Mr. Zamani on April 1, 2016 for work to be performed as director of the Company for the three months ending June 30, 2016. This grant was issued from the Company's 2016 Long Term Incentive Plan, effective as of May 11, 2016. /s/ Ali Zamani 2016-05-18