Applied Minerals, Inc., (“Applied Minerals”) (OTCBB:AMNL), a leading global producer of Halloysite Clay, is pleased to announce that the Company has engaged the investment banking firm, Dahlman Rose and Company, LLC (“Dahlman Rose”), to advise the Company on financial and corporate development options to further enhance shareholder value.

Dahlman Rose is a privately owned, research-driven investment bank focused on the exploration, recovery and movement of natural resources and refined products around the world. The bank’s industry-leading investment bankers, analysts, advisors and traders offer unique insight into the markets and companies that provide building blocks for the global economy. Further information on Dahlman Rose can be found at their website, http://www.dahlmanrose.com/Content/Corporate_Info.asp.

As Applied Minerals continues to commercialize the Dragon Mine resource, Dahlman Rose will provide advice on potential partnership opportunities, joint venture arrangements and financing alternatives, which Applied Minerals may consider in the future. Dahlman Rose will also assist the Company in broadening its shareholder base and enhancing its visibility among institutional investors and other members of the investment community. Applied Minerals does not plan to make any future comments on these matters unless there are material developments that warrant such a comment.

About Applied Minerals, Inc.

Applied Minerals Inc. is a leading global producer of Halloysite Clay from their wholly owned Dragon Mine property in Utah. Halloysite is an aluminosilicate clay that forms naturally occurring nanotubes. In addition to serving the traditional Halloysite markets for use in technical ceramics and catalytic applications, the Company has targeted niche applications that it feels will benefit from the tubular morphology of its Halloysite. These include: carriers of active ingredients in paints, coatings and building materials, agricultural applications and high‐performance functional fillers in polymer composites.

Safe Harbor

Statements in this press release that are not historical facts, and this includes all the statements concerning future‐oriented statements relating to processing, capacity, costs, notifications, working together, are“forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of significant risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied.

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