Applied Minerals, Inc. Receives New Purchase Order for its DRAGONITE Halloysite Clay Products

EUREKA, February 16, 2023 - Applied Minerals Inc. (the "Company" or "AMI") (OTC:AMNL), a leading producer of halloysite clay products for high-value industrial applications, recently received a new purchase order from a customer for 40,000 lbs. of its DRAGONITE halloysite clay product. The volume ordered will be used to market a flame retardant and a coating application recently commercialized by the customer. Management continues to focus on increasing sales of its DRAGONITE halloysite clay to its current customers as well as developing new customers for its products.

About Applied Minerals, Inc.

Applied Minerals Inc., the owner of the Dragon Mine property in Eureka, UT, is a producer of halloysite clay. Halloysite is aluminosilicate clay that possesses a naturally formed tubular structure. The Company markets its halloysite clay into a number of high-value application areas including, but not limited, catalysts and molecular sieves, polymer reinforcement, flame retardant additives, controlled release, construction products and lithium-ion battery minerals. Applied Minerals sells its halloysite products under the DRAGONITE trade name.

Safe Harbor Statements

The following are safe harbor statements under the Private Securities Litigation Reform Act of 1995 for Applied Minerals Inc. Some statements contained or implied in this news release may be considered forward-looking statements, which by their nature are uncertain. Consequently, actual results could materially differ. For more detailed information concerning how risks and uncertainties could affect the Company's revenue pipeline, please refer to Applied Minerals' most recent annual and quarterly reports filed with the SEC. The Company assumes no obligation to update any forward-looking information.

Investor Relations Contact:

Christopher Carney
President and CEO
info@appliedminerals.com

SOURCE: Applied Minerals Inc.