Applied Minerals Inc (AMNL)

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Noted in the NaturalNano Form SB - 2 Filed 7-10 - 2006:
NaturalNano, jointly with Nanolution, a wholly owned subsidiary of Biophan entered into a CRADA with the Naval
Reserch Lab (NAL) in June 2005 re hallosite and more.
See page 22 of the Form SB- 2 from the NaturalNano web site.

NAL, as we know, is with whom our Ron Price was associated prior to coming aboard to head Atlas Mining's subsidiary.

ALMI CEO Bill Jacobson has written:
"Another key event in 2005 was the appointment of Dr. Ron Price to the board of directors. Dr Price has been working with micro-tubular and nano-related particles at the US Naval Laboratory for a number of years. His involvement in this field has brought us together because of the unique tubular structure of our Dragon halloysite clay."