Show J President Cranmer's Annual Reports of of New Park and East Utah Properties Properties' To the Stockholders and Employees of the New Park Mining Company Your company's past record gives the I best boat background for tor predicting Its future fu fu- fu ture Lets Let's take a glance at the record When New Park was WI organized It was WI burdened with a ft large debt much litigation liti- liti gallon gation had no credit no ore are and Its Its property was attached by legal proceed proceed-I proceed 1 I Ings inga by a 1 smelting company Its stock sold for 9 0 cents per share and millions I of shares were outstanding Issued by byi I predecessor companies and authorized by their promotion-minded promotion officers The litigation was settled commercial ore was Wall found and opened up debts were paid ald a tunnel over feet In length was driven the property was waa expanded from 1100 acres with doubtful tI titles ties to acres secured by loca loca- I tion and purchase with good marketable marketable market- market f able titles A modern well-equipped well mine was created and most valuable of at atall of all an efficient and enthusiastic organIzation organ organ- organ 1 I of management and employees was WI established with cordial and friendly labor relations Pensions Insurance sick benefits and liberal paid vacations and I other benefits were provided Over 2 3 2 was paid In dividends I 1 j Now lets let's look at the picture for the II future I Diversification has bas been secured by Investing In Oil all Incorporated a company company company com com- I pany having a large acreage of leases inthe In Inthe Inthe the western states and In the Williston and Basins Bl now actively being I explored for oil all The Pearl fissure was opened up and I J Is s showing assays of as high as 4 ounces In gold The Company has joined with 1 the Exploration Company In a copper venture In the West Dla j DIs where encouraging results have bave been obtained by geophysical methods I and drilling Is la about to begin The Company has secured over 1200 1200 acres of State land under uranium leases In the Marysvale area The on onI these lands may be the home of primary I uranium ores The Company has leases on lands containing building sandstone on which quarries will be opened A consolidation of ot the Sliver Silver King and I Park Utah Companies now pending will unite the only other large mining companies companies com com- In the Park City District com I This will open a new era highly favorable to cooperation and the systematic development develop develop- develop I I ment of ot the district and will result In j i making the Park City District one ono comparable comparable com com- comi i parable to Butte or the Coeur d dAlene Alene where a cooperative spirit has greatly I aided In their development New Park has demonstrated that the I eastern and southern parts of the Park City Anticline contain ore-bearing ore fissures fissures fis fis- and replaced limestone beds containing containing con con- taming large amounts of at gold and copper copper copper cop cop- per as well as silver sliver lead and zinc and that some of these fissures are mineralized mineralIzed mineralized mineral mineral- to great depths while some do not come to the surface The Park Utah and New Park operations opera opera- have both demonstrated that the J replaceable limestone beds below the Weber quartzite are thicker and contain a better grade of ot ore than the Park City Limestone which lies above the quartzite quartzite quart quart- zite and from which mo most t of the production production production pro pro- of ot the District has haa been derived The Park City District has produced over worth of ore to date The Bureau of ot Reclamation Is studyIng study- study j Ing a plan for tor cooperating with the mini Ing companies In the driving of ot a a. 20 mile mUe tunnel which would be used to bring water to the Salt Lake Valley and would woula aid In the solving of problems of drainage exploration and transportation for the Park City District as well as forthe for forthe forthe the American Fork and Alta Districts The keys to future success are cooperation cooperation cooperation coop coop- geological study efficient minIng mining mining min min- ing drainage good milling transportation tion and ana excellent labor relations Patience courage vision coupled with cooperation from our stockholders and employees are creating growth that will show the past record Is but the foundation foundation tion for greater success to come Cordially yours W W. H. H H H. H CRANMER President April 14 1953 1053 Salt Lake City Utah I TO TU Tilt THE OF ot I t EAST tT T UTAH lIT MINING COMPANY S I The United States Government par pat j I In In Inand and paid one half of the cost of two Defense Minerals I Projects which were completed I I during the past l fiscal year at a total cost of East 87 East Utah's Utah one halt I amounting to 93 I Project No 1 uncovered a small vein of ore are which we plan to follow at some future date when the prices of non non- I metals are more favorable Project No 2 3 After the tunnel and ana driving toward the western I I boundary of the property It was found that the objective the ore bearing McHenry Mc- Mc McI I Henry Fissure had evidently broken up Into small strands of non-commercial non and therefore the re results results reo re- sulta were negative I The management of your Com Company l after examining into the opportunities I afforded by special growth situations I h has s found In the baste basic minerals and chemicals Industries what the manage t manage management manage manage-I ment meat believes to be an unusually favorable favorable favorable favor- favor able opportunity to enter the basic mineral and chemical Industry which I has haa unlimited possibilities for growth at the present time In the Mountain Empire Em Em- I pire and we are now Investigating the phosphate rock deposits in n Northern I Utah and Southern Idaho where some I of ot the highest grade of phosphate rock I I occurs Geological examination and engineers engineers' reports have been completed on available properties and will soon loon be submitted submitted I to your Board of Directors for their consideration con con- side ration It is believed the future earnIngs earn earn- con I ings inga of this booming Industry will far tar exceed those of non-ferrous non mining and anda a consolidation of East Utah with a I company having some of the phosphate I deposits mentioned above offers an at attractive attractive at- at opportunity for growth and I prout Sincerely W W. H. H II II n. CRANMER President |