0000008328-10-000046 Sample Contracts

REGISTRATION RIGHTS AGREEMENT
Registration Rights Agreement • May 20th, 2010 • Applied Minerals, Inc. • Gold and silver ores • New York

This Registration Rights Agreement (the “Agreement”) is made and entered into as of May ____, 2010 by and among Applied Minerals, Inc. a Delaware corporation (the “Company”), and the purchaser of a 10% PIK-Election Convertible Note due 2018 (the “Note”). Notes may be sold to more than one purchaser (each purchaser an “Investor” and collectively the “Investors”).

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