Board of Directors Meeting page 19

The Secretary then addressed the chair, and read to the meeting, a copy of a proposition which had been submitted to the corporation in words and figures following, towit:-Tonopah, Nevada. January - 10 -1912.Goldfield Belmont Extension Mining Co., Goldfield, Nevada.Gentlemen;Your corporation, having been organised for the purpose of acquiring and operating mining claims, mines and properties incident to and necessary for the production and treatment of ores and mineral bearing rock earth, as set forth more particulary in your Articles of Incorporation, I, the undersigned, hereby offer to sell you, all of my right, title and interest, in the^ Midnight Fraction4 and pawnee.. Patented :Lode Mining Claims, patent No. 2298, situated near Diamondfield,Nye County, Nevada.The consideration for this offer shall be One Hundred and Forty Nine Thousand Eight Hundred and Fifty Dollars ($149,850. 00) ] or One Million Four Hundred Nine eight Thousand Five Hundred shares of capital stock of your Company, you to have the option as to pay-ment of stock or in money, and this offer to be accepted or refused by you, within ten days from the date hereof.Yours very truly,R. F. Brown.After a thorough consideration and discussion of this porposition by the members of the Board, it was, upon motion duly made, seconded and carried, ffRESOLVED: that the Goldfield Belmont Extension Mining Company accept the proposition of Mr. R. P. Brown as made, and the president and Secretary be -- and they are hereby authorized. and directed to take the necessary steps to close the transaction and receive from Mr. R. F. Brown, the proper deeds and other in-struments in writing, duly executed, conveying and transferring said patented mining claims and their appurtenances, to this cor-poration, free and clear of all incumbrances, andBE IT FURTHER RESOLVED: that it shall be the sense of this meeting that this Company, exercise its option as to purchase price by paying for said property with One Million Four Hundred Ninety Eight Thousand shares of the capital stock of this cor-poration, and that the President and Secretary be, and they are hereby authorized and directed to issue that amount of stock to Mr. R. F. Brown, or his order, the said stock to be issued as full paid and assessable and as and for the consideration and the transfer of said properties.There being no other or further business to come before the meeting, it was, by consent, adjourned until 3:00 o'clock P. M. January 15 th, 1912.