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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 JR/QmOah2Glgw/bgt3sMXYz4RAHT5dtq2yB/J/NTJ3qpAK8zdFjdy8Y/+Jc4Dn+6
 8nBMhMZyke130G1RWTHyvA==

<SEC-DOCUMENT>0001179110-03-011360.txt : 20031126
<SEC-HEADER>0001179110-03-011360.hdr.sgml : 20031126
<ACCEPTANCE-DATETIME>20031126120611
ACCESSION NUMBER:		0001179110-03-011360
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031105
FILED AS OF DATE:		20031126

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ARANDJELOVIC ZORAN
		CENTRAL INDEX KEY:			0001270862

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12401
		FILM NUMBER:		031025357

	MAIL ADDRESS:	
		STREET 1:		150 JARDIN DRIVE STE. 9
		CITY:			CONCORD
		STATE:			A6
		ZIP:			L4K 3P9

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WITS BASIN PRECIOUS MINERALS INC
		CENTRAL INDEX KEY:			0000912875
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-AUTO & HOME SUPPLY STORES [5531]
		IRS NUMBER:				841236619
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		800 NICOLLET MALL
		STREET 2:		SUITE 2690
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402
		BUSINESS PHONE:		(612)664-0570

	MAIL ADDRESS:	
		STREET 1:		800 NICOLLET MALL
		STREET 2:		SUITE 2690
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACTIVE IQ TECHNOLOGIES INC
		DATE OF NAME CHANGE:	20010702

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	METEOR INDUSTRIES INC
		DATE OF NAME CHANGE:	19960313
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-11-05</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000912875</issuerCik>
        <issuerName>WITS BASIN PRECIOUS MINERALS INC</issuerName>
        <issuerTradingSymbol>AIQT</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001270862</rptOwnerCik>
            <rptOwnerName>ARANDJELOVIC ZORAN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>150 JARDIN DRIVE, SUITE #9</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CONCORD</rptOwnerCity>
            <rptOwnerState>A6</rptOwnerState>
            <rptOwnerZipCode>L4K 3P9</rptOwnerZipCode>
            <rptOwnerStateDescription>ONTARIO, CANADA</rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeHolding><securityTitle><value>Common Stock, $.01 par value</value>
</securityTitle>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeHolding>
<nonDerivativeHolding><securityTitle><value>Common Stock, $.01 par value</value>
</securityTitle>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>200000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership><value>By Capital Z Corp.</value>
<footnoteId id="F1"></footnoteId>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeHolding>
</nonDerivativeTable>
<derivativeTable><derivativeTransaction><securityTitle><value>Director Stock Option</value>
</securityTitle>
<conversionOrExercisePrice><value>.65</value>
</conversionOrExercisePrice>
<transactionDate><value>2003-11-05</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>400000</value>
</transactionShares>
<transactionPricePerShare><value>0</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><footnoteId id="F2"></footnoteId>
</exerciseDate>
<expirationDate><value>2008-11-05</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock, $.01 par value</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>400000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>400000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
<derivativeHolding><securityTitle><value>Warrant</value>
</securityTitle>
<conversionOrExercisePrice><value>.75</value>
</conversionOrExercisePrice>
<exerciseDate><value>2003-10-24</value>
</exerciseDate>
<expirationDate><value>2004-10-24</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock, $.01 par value</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>100000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>100000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership><value>By Capital Z Corp.</value>
<footnoteId id="F1"></footnoteId>
</natureOfOwnership>
</ownershipNature>
</derivativeHolding>
</derivativeTable>
<footnotes><footnote id="F1">A corporation of which the Reporting Person is the President and CEO.</footnote>
<footnote id="F2">200,000 shares vest immediately, 100,000 shares each vest on May 5, 2004 and November 5, 2004.</footnote>
</footnotes>
<ownerSignature><signatureName>/s/ Zoran Arandjelovic</signatureName>
<signatureDate>2003-11-26</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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