Document:

<PAGE>
                                                                   Exhibit 10.19

                                 PROMISSORY NOTE

                                                       Dated as of March 5, 2001
$2,900,000.00                                                Scottsdale, Arizona

      MORTON'S OF CHICAGO/JACKSONVILLE LLC, a Delaware limited liability
company ("Debtor"), for value received, hereby promises to pay to FFCA
FUNDING CORPORATION, a Delaware corporation ("FFCA"), whose address is 17207
North Perimeter Drive, Scottsdale, Arizona 85255, or order, on or before
April 1, 2021 (the "Maturity Date"), as herein provided, the principal sum of
TWO MILLION NINE HUNDRED THOUSAND AND 00/100 DOLLARS ($2,900,000.00), and to
pay interest on the unpaid principal amount of this Note from the date hereof
to the Maturity Date at the rate of 8.17% per annum on the basis of a 360-day
year for the actual number of days elapsed, such principal and interest to be
paid in immediately available funds and in lawful money of the United States.

      Initially capitalized terms which are not otherwise defined in this Note
shall have the meanings set forth in that certain Loan Agreement dated as of the
date hereof between Debtor and FFCA, as such agreement may be amended from time
to time (the "Loan Agreement").

      Interest on the principal amount of this Note for the period commencing
with the date set forth above through the last day in the month in which this
Note is dated shall be due and payable upon delivery of this Note. Thereafter,
principal and interest shall be payable in consecutive monthly installments of
TWENTY-FOUR THOUSAND SEVEN HUNDRED EIGHTY-TWO AND 44/100 DOLLARS ($24,782.44)
commencing on May 1, 2001, and continuing on the first day of each month
thereafter until the Maturity Date, at which time, the outstanding principal and
unpaid accrued interest shall be due and payable.

      Debtor may prepay this Note in full, but not in part, including all
accrued but unpaid interest hereunder and all sums advanced by FFCA pursuant to
the Loan Documents which secure this Note, provided that (i) an Event of Default
shall not have occurred under this Note and be not continuing, (ii) any such
prepayment shall only be made on a regularly scheduled payment date upon not
less than 30 days prior written notice from Debtor to FFCA, and (iii) any such
prepayment shall be made together with payment of a prepayment premium equal to
the Yield Maintenance Amount if such prepayment is made prior to the fifth
anniversary of the date of this Note. The term "Yield Maintenance Amount" means
an amount equal to the difference between (i) the present value computed at the
Reinvestment Rate of the stream of monthly principal and interest payments due
under this Note from the date of such prepayment through the scheduled Maturity
Date, and (ii) the unpaid principal amount of this Note; provided, however, if
such difference is a negative number, the Yield Maintenance Amount shall be
zero. The term "Reinvestment Rate" means an interest rate equal to the then
current yield of U.S. Treasury securities having a weighted average life to
maturity closest to the scheduled Maturity Date of this Note.

01-304147.02
FFCA No. 8001-2168
Jacksonville, Florida

<PAGE>

      If this Note is prepaid on or following the fifth anniversary of the date
of this Note, Debtor shall not be required to pay a prepayment premium.

      The foregoing Yield Maintenance Amount shall be due and payable if
this Note is prepaid prior to the fifth anniversary of this Note regardless of
whether such prepayment is the result of a voluntary prepayment by Debtor or as
a result of FFCA declaring the unpaid principal balance of this Note, accrued
interest and all other sums due under this Note, the Mortgage encumbering the
Premises corresponding to this Note, the other Loan Documents and any Other
Agreements, due and payable as contemplated below (the "Acceleration");
provided, however, the prohibition on prepayment and the Yield Maintenance
Amount or prepayment premium, as applicable, shall not be applicable with
respect to a prepayment of this Note in connection with an application of
condemnation or insurance proceeds as contemplated by the Mortgage or as
contemplated by the Loan Agreement as a result of a breach and subsequent cure
by Debtor of the Fixed Charge Coverage Ratio required by the Loan Agreement.

      Upon execution of this Note, Debtor shall establish arrangements whereby
all payments of principal and interest hereunder are transferred by Automated
Clearing House Debit directly from Debtor's bank account to such account as FFCA
may designate or as FFCA may otherwise designate. Each payment of principal and
interest hereunder shall be applied first toward any past due payments under
this Note (including payment of all Costs (as herein defined)), then to accrued
interest, and the balance, after the payment of such accrued interest, if any,
shall be applied to the unpaid principal balance of this Note; provided,
however, each payment hereunder after an Event of Default has occurred under
this Note shall be applied as FFCA in its sole discretion may determine.

      This Note is secured by the Mortgage and guaranteed by the Guarantor
pursuant to the Guaranty. An "Event of Default" shall be deemed to have occurred
under this Note if (a) any principal, interest or other monetary sum certain due
under this Note is not paid within five days after the date when due and FFCA
shall have given Debtor notice thereof and a period of seven days from the
delivery of such notice shall have elapsed without such past-due sum being paid,
or (b) an Event of Default (as defined under any of the Loan Documents).

      During the continuation of an Event of Default under this Note, then, time
being of the essence hereof, FFCA may declare the entire unpaid principal
balance of this Note, accrued interest, if any, and all other sums due under
this Note and any Loan Documents which secure this Note, due and payable at once
without notice to Debtor.

      All past-due principal and/or interest shall bear interest from the due
date to the date of actual payment at the lesser of the highest rate for which
the undersigned may legally contract, or the rate of 15% per annum (the "Default
Rate"), and such Default Rate shall continue to apply following a judgment in
favor of FFCA under this Note; provided, however, the Default Rate shall not be
applicable if all past due principal and/or interest is paid in full within the
notice and cure periods provided for in the Loan Agreement.

01-304147.02
FFCA No. 8001-2168
Jacksonville, Florida

                                       2
<PAGE>

      All payments of principal and interest due hereunder shall be made (i)
without deduction of any present and future taxes, levies, imposts, deductions,
charges or withholdings, which amounts shall be paid by Debtor, and (ii) without
any other right of abatement, reduction, setoff, defense, counterclaim,
interruption, deferment or recoupment for any reason whatsoever. Debtor will pay
the amounts necessary (such amounts are hereby deemed not to include income
taxes, gross receipts taxes, transfer taxes, franchise taxes and corporate
taxes) such that the gross amount of the principal and interest received by FFCA
is not less than that required by this Note.

      No delay or omission on the part of FFCA in exercising any remedy, right
or option under this Note shall operate as a waiver of such remedy, right or
option. In any event, a waiver on any one occasion shall not be construed as a
waiver or bar to any such remedy, right or option on a future occasion.

      Debtor hereby waives presentment, demand for payment, notice of dishonor,
notice of protest, and protest, notice of intent to accelerate, notice of
acceleration and all other notices or demands in connection with delivery,
acceptance, performance, default or endorsement of this Note.

      All notices, consents, approvals or other instruments required or
permitted to be given by either party pursuant to this Note shall be in writing
and given by (i) hand delivery, (ii) facsimile, (iii) express overnight delivery
service or (iv) certified or registered mail, return receipt requested, and
shall be deemed to have been delivered upon (a) receipt, if hand delivered, (b)
transmission, if delivered by facsimile, (c) the next business day, if delivered
by express overnight delivery service, or (d) the third business day following
the day of deposit of such notice with the United States Postal Service, if sent
by certified or registered mail, return receipt requested. Notices shall be
provided to the parties and addresses (or facsimile numbers, as applicable)
specified below:

               If to Debtor:    Mr. Thomas Baldwin
                                Morton's of Chicago/Jacksonville LLC
                                3333 New Hyde Park Road
                                New Hyde Park, NY 11042
                                Telephone: (516) 627-1515
                                Telecopy:  (516) 627-2050

               with a copy to:  David Gruber, Esq.
                                Salamon, Gruber, Newman and Blaymore
                                Suite 102
                                97 Powerhouse Road
                                Roslyn Heights, NY 11577
                                Telephone: (516) 625-1700
                                Telecopy:  (516) 625-1795

01-304147.02
FFCA No. 8001-2168
Jacksonville, Florida

                                       3
<PAGE>

               If to FFCA:      Dennis L. Ruben, Esq
                                Executive Vice President, General Counsel and
                                Secretary
                                FFCA Funding Corporation
                                17207 North Perimeter Drive
                                Scottsdale, AZ 85255
                                Telephone: (480) 585-4500
                                Telecopy:  (480) 585-2226

or to such other address or such other person as either party may from time to
time hereafter specify to the other party in a notice delivered in the manner
provided above.

      Should any indebtedness represented by this Note be collected at law or in
equity, or in bankruptcy or other proceedings, or should this Note be placed in
the hands of attorneys for collection after default, Debtor shall pay, in
addition to the principal and interest due and payable hereon, all costs of
collecting or attempting to collect this Note (the "Costs"), including
reasonable attorney's fees and expenses of FFCA (including those fees and
expenses incurred in connection with any appeal and those of FFCA's in-house
counsel) whether or not a judicial action is commenced by FFCA.

      This Note may not be amended or modified except by a written agreement
duly executed by Debtor and FFCA. In case any one or more of the provisions
contained in this Note shall be held to be invalid, illegal or unenforceable in
any respect, such invalidity, illegality or unenforceability shall not affect
any other provision of this Note, and this Note shall be construed as if such
provision had never been contained herein or therein.

      Notwithstanding anything to the contrary contained in any of the Loan
Documents, the obligations of Debtor to FFCA under this Note and any other Loan
Documents are subject to the limitation that payments of interest and late
charges to FFCA shall not be required to the extent that receipt of any such
payment by FFCA would be contrary to provisions of applicable law limiting the
maximum rate of interest that may be charged or collected by FFCA. The portion
of any such payment received by FFCA that is in excess of the maximum interest
permitted by such provisions of law shall be credited to the principal balance
of this Note or if such excess portion exceeds the outstanding principal balance
of this Note, then such excess portion shall be refunded to Debtor. All interest
paid or agreed to be paid to FFCA shall, to the extent permitted by applicable
law, be amortized, prorated, allocated and/or spread throughout the full term of
this Note (including, without limitation, the period of any renewal or extension
thereof) so that interest for such full term shall not exceed the maximum amount
permitted by applicable law.

      It is the intent of the parties hereto that the business relationship
created by this Note and the other Loan Documents is solely that of creditor
and debtor and has been entered into by both parties in reliance upon the
economic and legal bargains contained in the Loan Documents. None of the
agreements contained in the Loan Documents is intended, nor shall the same be
deemed or construed, to create a partnership between FFCA and Debtor, to make
them joint

01-304147.02
FFCA No. 8001-2168
Jacksonville, Florida

                                       4
<PAGE>

venturers, to make Debtor an agent, legal representative, partner, subsidiary or
employee of FFCA, nor to make FFCA in any way responsible for the debts,
obligations, or losses of Debtor.

      FFCA, by accepting this Note, and Debtor acknowledge and warrant to each
other that each has been represented by independent counsel and Debtor has
executed this Note after being fully advised by said counsel as to its effect
and significance. This Note shall be interpreted and construed in a fair and
impartial manner without regard to such factors as the party which prepared the
instrument, the relative bargaining powers of the parties or the domicile of any
party.

      Time is of the essence in the performance of each and every obligation
under this Note.

      Debtor acknowledges that this Note was substantially negotiated in the
State of Arizona, the executed Note was delivered in the State of Arizona,
all payments under this Note will be delivered in the State of Arizona and
there are substantial contacts between the parties and the transactions
contemplated herein and the State of Arizona. For purposes of any action or
proceeding arising out of this Note, the parties hereto expressly submit to
the jurisdiction of all federal and state courts located in the State of
Arizona. Debtor consents that it may be served with any process or paper by
registered mail or by personal service within or without the State of Arizona
in accordance with applicable Law. Furthermore, Debtor waives and agrees not
to assert in any such action, suit or proceeding that it is not personally
subject to the jurisdiction of such courts, that the action, suit or
proceeding is brought in an inconvenient forum or that venue of the action,
suit or proceeding is improper. It is the intent of Debtor and FFCA that all
provisions of this Note shall be governed by and construed under the laws of
the State of Arizona, without regard to its conflict of laws principles.
Nothing contained in this paragraph shall limit or restrict the right of FFCA
to commence any proceeding in the federal or state courts located in the
state in which the Premises is located to the extent FFCA deems such
proceeding necessary or advisable to exercise remedies available under the
Loan Documents.

      FFCA, BY ACCEPTING THIS NOTE, AND DEBTOR HEREBY KNOWINGLY, VOLUNTARILY
AND INTENTIONALLY WAIVE THE RIGHT EITHER MAY HAVE TO A TRIAL BY JURY WITH
RESPECT TO ANY AND ALL ISSUES PRESENTED IN ANY ACTION, PROCEEDING, CLAIM OR
COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER OR ITS
SUCCESSORS WITH RESPECT TO ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS
NOTE, THE RELATIONSHIP OF FFCA AND DEBTOR, DEBTOR'S USE OR OCCUPANCY OF THE
PREMISES, AND/OR ANY CLAIM FOR INJURY OR DAMAGE, OR ANY EMERGENCY OR STATUTORY
REMEDY. THIS WAIVER BY THE PARTIES HERETO OF ANY RIGHT EITHER MAY HAVE TO A
TRIAL BY JURY HAS BEEN NEGOTIATED AND IS AN ESSENTIAL ASPECT OF THEIR BARGAIN.
FURTHERMORE, DEBTOR AND FFCA HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
WAIVE THE RIGHT THEY MAY HAVE TO SEEK PUNITIVE, CONSEQUENTIAL AND INDIRECT
DAMAGES FROM THE OTHER PARTY, ANY OF THEIR AFFILIATES, OFFICERS, DIRECTORS OR
EMPLOYEES OR ANY OF THEIR SUCCESSORS WITH RESPECT TO ANY AND ALL

01-304147.02
FFCA No. 8001-2168
Jacksonville, Florida

                                       5
<PAGE>

ISSUES PRESENTED IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT BY
THEM AGAINST THE OTHER PARTY HERETO, THEIR AFFILIATES, OFFICERS, DIRECTORS OR
EMPLOYEES OR THEIR SUCCESSORS WITH RESPECT TO ANY MATTER ARISING OUT OF OR IN
CONNECTION WITH THIS NOTE OR ANY DOCUMENT CONTEMPLATED HEREIN OR RELATED
HERETO. THE WAIVER BY DEBTOR AND FFCA OF ANY RIGHT THEY MAY HAVE TO SEEK
PUNITIVE, CONSEQUENTIAL AND INDIRECT DAMAGES HAS BEEN NEGOTIATED BY THE PARTIES
HERETO AND IS AN ESSENTIAL ASPECT OF THEIR BARGAIN.

      This obligation shall bind Debtor and its successors and assigns, and the
benefits hereof shall inure to FFCA and its successors and assigns. FFCA may
assign its rights under this Note as set forth in the Loan Agreement.

01-304147.02
FFCA No. 8001-2168
Jacksonville, Florida

                                       6
<PAGE>

      IN WITNESS WHEREOF, Debtor has executed and delivered this Note effective
as of the date first set forth above:

                                      DEBTOR:

                                      MORTON'S OF CHICAGO/JACKSONVILLE
                                      LLC, a Delaware limited liability company

                                      By: Morton's of Chicago Holding, Inc., its
                                      member

                                      By /s/ Thomas J. Baldwin
                                         ---------------------------------------
                                      Its EVP & CFO
                                          --------------------------------------
                                      Printed Name THOMAS J. BALDWIN
                                                   -----------------------------

01-304147.02
FFCA No. 8001-2168
Jacksonville, Florida

                                       7<PAGE>
                            TRANSLATOR'S CERTIFICATE

I, Juanita Miller, a professional translator duly accredited by the S.T.I.B.C.-
Society of Translators and Interpreters of British Columbia, the provincial
affiliate of the Canadian Translators and Interpreters Council (CTIC), a member
in good standing of the S.T.I.B.C. and the A.T.A. (American Translators
Association) - having the competence and being authorized to translate from
English into Spanish and from Spanish into English, HEREBY CERTIFY that the
attached translation of an agreement in respect of the sale of shares of stock,
drawn in official, line-numbered paper bearing the coat of arms of the Republic
of Bolivia and the legend "General Treasury of the Country - Stamped Paper" in
the middle of the page, tax stamps at the top, 6 pages back and front starting
at No. 2516025, Series "A-99" and ending in No. 2516030, Series "A-99",
overstamped 21 January 2000, initialed by the parties at left hand margin, which
bears my professional seal and initials is, to the best of my knowledge and
understanding, a true, correct and complete translation of the original document
in Spanish.

This Certificate is issued in the City of North Vancouver, British Columbia,
Canada on the twelfth day of March in the year two thousand and one.

                                                          Juanita Miller
                                                          Certified Translator
                                                          No. 02-04-008

<PAGE>
TRANSLATION FROM SPANISH INTO ENGLISH

TO THE PUBLIC NOTARY:
Please enter into the Register of Public Deeds kept at your office, this
instrument recording the transfer of shares of stock, an express acknowledgement
of assets and liabilities and guarantees of payment of the agreed upon value in
monies and in kind, of a Company called "Sociedad Industrial Minera YAMIN LTDA."
at the tenor of the following clauses:

FIRST. THE PARTIES. The parties to this agreement in respect of the sale of
shares of stock in a Limited Liability Company are the companies and individuals
named hereunder: On the one hand, VISTA GOLD CORP., a legally established
Bolivian company per Administrative Resolution No. 06329/97 dated October 22,
1997 which records that the company resulted from a merger and acknowledges that
its former name was DA CAPO RESOURCES and that it had been authorized to change
the corporate name to VISTA GOLD CORP. with domicile in La Paz, No. 140 Romecin
Campos Street, legally represented in this act by Eng. Romulo Sasamoto Arano
Peredo, per power of attorney specially drawn for this act, set out in Official
Document No. 75/2000 dated January 27, 2000, signed before Dr. Daisy Benito
Pozzo, a Notary Public with offices in this city, which will be inserted into
this instrument; as the owner of 80% of the corporate capital of Sociedad
Industrial Minera YAMIN LTDA, and Raquel Ines Portillo de Reynaga, lawyer, power
of attorney for Mr. David Anthony O'Connor, a British subject, with Foreign
Identity Card No. 4715825, domiciled at La Paz, No. 21 Street, Torres Building,
4th floor, Calacoto, who is the owner of 20% of the corporate capital of YAMIN
LTDA.; and who intervenes in this document and economic transaction representing
the rights and shares of the grantor in accordance with the terms of the
Official Copy of Public Deed 40/2000 dated January 13, 2000 signed before Dr.
Daisy Benito Pozo, Notary Public, whereby the grantor confers sufficient and
ample power or authority, to intervene in this act and which you, Mr. Notary,
will also insert in this instrument. Mr. David Anthony O'Connor through his
power of attorney and VISTA GOLD CORP., shall be known hereinafter simply as THE
VENDORS.

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THE ABOVE TRANSLATION IS, TO THE BEST OF MY KNOWLEDGE AND UNDERSTANDING, A
TRUE, CORRECT AND COMPLETE TRANSLATION OF THE ORIGINAL DOCUMENT IN SPANISH.
<PAGE>

On the other hand, the parties to this agreement are the company EMPRESA MINERA
MULTIPLE CAPACIRCA, S.A., with legal personality recognized per Administrative
Resolution 02-16778/99 dated 23/12/99 issued by the SENAREC and registered in
the Register of Commercial Concerns under No. 070434608 dated 23/12/99 legally
represented in this act by Mr. Freddy Mancilla Cazorla, per the special and
sufficient power of attorney set out in Official Document No. 69/2000 issued
before Dr. Carlos G. Segerich Amusquivar, Notary Public, dated January 14, 2000,
which together with the approved and notarized Minutes of the Ordinary
Shareholders Meeting and Minutes of the Board of Directors meeting prepared by
Dr. Ramiro Lanos Moscoso, Notary Public, will be incorporated into this
document, and Mr. Freddy Mancilla Cazorla, in his own right, miner, identity
card No. 3076245, issued in Oruro, married, with domicile in Chuquihuta, 30
years old, and Mr. Boris Romero Guzman, in his own right, identity card No.
351380 issued in Oruro, married, with domicile in Chiquihuta, 30 years old. All
of the above shall be known hereinafter as THE PURCHASERS.

SECOND. ANTECEDENTS. VISTA GOLD CORP. owns 80% of the shares of stock of the
Sociedad Industrial Minera YAMIN LTDA., as a result of having bought 80% of the
shares of stock owned by the former shareholders of the above mentioned company,
established per Public Deed No. 6/96 issued before the Notary Dr. Jenny Calderon
Aldonate of Cochabamba on March 15, 1996. The third clause of said document
establishes that the former shareholders Boris Dusan, Julian Mlader and Filma
Yasic Ostoic sell and transfer the entirety of their stockholdings in Sociedad
Industrial Minera YAMIN LTDA. to THE PURCHASERS, DA CAPO RESOURCES CORP. and
DAVID O'CONNOR who in turn is the legal representative for DA CAPO RESOURCES. In
the FOURTH Clause of the same Public Deed dealing with the distribution of the
Corporate Capital it is established that DA CAPO RESOURCES owns 80% of the
corporate capital of YAMIN LTDA. and that David O'Connor owns 20% of the
corporate capital. Afterwards, DA CAPO RESOURCES merged with another company and
changed its corporate name to VISTA GOLD CORP., and was so recognized by the
General Bureau of the Register of Commercial Concerns and Corporations, through
Administrative Resolution No. 06329/97

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THE ABOVE TRANSLATION IS, TO THE BEST OF MY KNOWLEDGE AND UNDERSTANDING, A
TRUE, CORRECT AND COMPLETE TRANSLATION OF THE ORIGINAL DOCUMENT IN SPANISH.
<PAGE>

dated October 22, 1997 which approves the new corporate name, and assumed the
rights, obligations and responsibilities of the company formerly known as DA
CAPO RESOURCES. Therefore, VISTA GOLD CORP. is the owner of 80% of the shares
of stock in YAMIN LTDA. and the distribution of capital table in respect of
the shares of stock acquired from the former partners Yaksic Ostoic sets out
the following percentages of ownership:

    VISTA GOLD CORP.     80% of the corporate capital
    DAVID O'CONNOR       20% of the corporate capital

These percentages of ownership are repeated in Public Deed No. 527 dated
December 30, 1999, approved by SENAREC per Administrative Resolution No.
009528/2000 dated January 21, 2000; consequently, the proprietary right of the
shares of stock of Sociedad Industrial Minera YAMIN LTDA., and their
distribution, are as shown in the distribution table and THE PURCHASERS have the
assurance that THE VENDORS are indeed the legitimate owners of the shares of
stock being transferred and sold in this act.

THIRD. OBJECTIVE. In the above transactions the parties are deemed to act as a
joint and several group, and it is established that THE VENDORS irrevocably and
definitely sell and transfer one hundred percent of the shares of Sociedad
Industrial Minera YAMIN LTDA. to THE PURCHASERS who, also for the purposes of
this act, are deemed to be a joint and several group. The percentages of
ownership of the new shareholders are set out in the following distribution
table:

<TABLE>
<CAPTION>

Name                                         Shares of stock        Percentage
                                             Purchased
<S>                                          <C>                    <C>
Empresa Minera Multiple Capacirca, S.A.      258 shares             99.23%
Freddy Mancilla C.                           1 share                0.385%
Boris Romero G.                              1 share                0.385%
TOTAL                                        260 shares             100.00
</TABLE>

THE VENDORS transfer the totality of the shares of stock in Sociedad Industrial
Minera YAMIN LTDA. to THE PURCHASERS who become the new shareholders and who
hold

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THE ABOVE TRANSLATION IS, TO THE BEST OF MY KNOWLEDGE AND UNDERSTANDING, A
TRUE, CORRECT AND COMPLETE TRANSLATION OF THE ORIGINAL DOCUMENT IN SPANISH.
<PAGE>

the shares of stock transferred in the numbers and percentages shown in the
distribution table accepted by the parties.

FOURTH. ASSETS AND LIABILITIES. Included in the Assets of the Company which
shares are being transferred, are the following mining concessions: SANTA ROSA,
30 mining claims, title No. 55 dated August 24, 1921, transferred to Mr. Juan
Yaksic by Public Deed No. 188 dated May 12, 1935. Incorporated to Sociedad
Industrial Minera YAMIN LTDA., in the Articles of Incorporation No. 9/76 dated
March 31, 1976. Incorporated again to Sociedad YAMIN LTDA, per Public Deed No.
446/99 dated November 30, 1999 registered in the Land Register Office of Uncia
under Entry No. 16-229, Folio No. 95-151, Book No. 49-17 dated December 10,
1999.

SAN MATEO, 20 mining claims, title No. 39 dated May 3, 1941. This concession was
transferred to Mr. Juan Yaksic on May 23, 1941 under instrument No. 102, and is
later incorporated into the assets of YAMIN LTDA., per Public Deed No. 9/76 of
March 31, 1976. It is incorporated again to Sociedad YAMIN LTDA, per Public Deed
No. 446/99 dated November 30, 1999, registered in the Land Register Office of
Uncia under Entry No. 16-229, Folio No. 95-151 and back, Book No. 49-17 dated
December 10, 1999. INOCENTES, 34 mining claims, title No. 136 dated September
24, 1936 in the name of Mr. Juan Yaksic. Incorporated to the assets of Sociedad
Industrial Minera Yamin Ltda. in its Articles of Incorporation 9/76 of March 31,
1976. It is incorporated again into Sociedad Yamin Ltda., per public Deed No.
446/99 dated November 30, 199, [SIC] registered in the Land Register Office
under entry No. 16-229, Folio 95-151 and back, Book 49-17 dated December 10,
1999.

SANTA BENIGNA, 23 mining claims., title No. 56/40 dated July 12, 1940, by
Official Document No. 1/73 executed before the Registrar of Mines of North
Postosi, registered in the Land Property Office of the Province of Bustillos,
department of Potosi, dated July 17, 1973, where it states that the proprietary
right belongs to Juan Yaksic Y. This mining concession was acquired by
inheritance under the provisions of the Declaration of Heirs Judgment issued by
the Civil Court No. 4 which states that Golubica widow of Yaksic, Dusan, Juan,
Boris, Mladen and Filma Yaksic Ostoic, owners of the concession, who incorporate
the concession to YAMIN LTDA by Public Deed No. 6/96 dated March 15,

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THE ABOVE TRANSLATION IS, TO THE BEST OF MY KNOWLEDGE AND UNDERSTANDING, A
TRUE, CORRECT AND COMPLETE TRANSLATION OF THE ORIGINAL DOCUMENT IN SPANISH.
<PAGE>

1996 and then proceeded with the sale of the shares of stock of YAMIN LTDA.
with this concession included. It was incorporated again into Sociedad YAMIN
LTDA. per Public Deed No. 446/99 dated November 30, 1999 registered in the
Land Register Office of Uncia under Entry No. 16-229, Folio No. 95-151 and
back, Book No. 49-17, dated December 10, 1999.

In addition, eight (8) lots of land belonging to YAMIN LTDA., are also included
in the sale, as well as machinery, furnishings, facilities, equipment and real
estate in accordance with the inventory carried out in Capacirca on October 31,
1999, by Industrial Minera YAMIN LTDA and Mr. Freddy Mancilla and other labor
leaders. Said inventory is also an integral part of this agreement. The only
exclusion of the assets situated in Capacirca are the pyritic tailings located
in the Kapaloma area which belong to the Yaksic family and the electricity
transmission line from Amayapampa to Capacirca; these assets are not the
property of YAMIN LTDA and belong to others.

The company's liabilities are as shown in the Balance Sheet and Financial
Statements as of December 20, 1999. These documents are also an integral part of
this agreement. Therefore, it is reiterated that the transfer of the shares of
stock of YAMIN LTDA., includes the assets and liabilities of the Company which
have been identified and discussed previously and are known to THE PURCHASERS;
thus, as of the date of execution of this Public Deed, VISTA GOLD CORP. and
DAVID O'CONNOR, cease to be shareholders of YAMIN LTDA. and, in effect, are no
longer part of Company and consequently are released from any and all
responsibilities arising from the management of the company and from the
liabilities transferred under the terms hereunder, and the full responsibility
for them rests with the PURCHASERS. However, THE VENDORS guarantee that the
shares of stock being transferred and the mining concessions which form the
major portion of the assets are free of liens, mortgages, and have not been
given as security or collateral, nor are in any other way hindered in such a
manner that would affect the proprietary rights on these assets.

FIFTH. PRICE AND FORM OF PAYMENT. The price, freely agreed upon by the parties
by mutual agreement, without pressure or duress, is as follows:

                                                                              5
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THE ABOVE TRANSLATION IS, TO THE BEST OF MY KNOWLEDGE AND UNDERSTANDING, A
TRUE, CORRECT AND COMPLETE TRANSLATION OF THE ORIGINAL DOCUMENT IN SPANISH.
<PAGE>

a)      US $89,461.00 (EIGHTY NINE THOUSAND FOUR HUNDRED AND SIXTY ONE 00/100
        US DOLLARS), paid by THE PURCHASERS to THE VENDORS at the time of
        signing this agreement, and THE VENDORS state that they have received
        this amount to their full satisfaction.

b)      US $200,000.00 (TWO HUNDRED THOUSAND 00/100 US DOLLARS) payable on four
        (4) annual installments, that is to say, US$ 50,000.00 (FIFTY THOUSAND
        00/100 US DOLLARS) every year for four years. The yearly term is
        calculated as of August 1, 2000, thus the first installment is to be
        paid by July 30, 2001; the second installment by July 30, 2002; the
        third installment by July 30, 2003 and the final installment by July 30,
        2004.

Furthermore, starting on July 1, 2000, THE PURCHASERS shall deliver to THE
VENDORS 200 grams of gold per month during the first two years and 400 grams of
gold per month in the following six years. For the purposes of payment of the
purchase price between THE VENDORS and THE PURCHASERS, it is decided that VISTA
GOLD CORP. shall receive the payment of the purchase price and shall be
responsible for any claims, clarifications or questions arising from this
transfer of shares, expressly releasing Mr. David O'Connor from this
responsibility. Similarly, THE PURCHASERS state that the sole responsible party
for the obligations hereunder, bound to comply with the terms agreed upon in the
sale of the shares of stock is the corporation EMPRESA MINERA MULTIPLE
CAPACIRCA, S.A.

SIXTH. GUARANTEE OF PAYMENT AND COMPLIANCE OF OBLIGATIONS. THE PURCHASERS
warrant that they shall comply with the payments set in this instrument in
respect of the purchase of the shares of stock of the company and that they
shall fully comply with the provisions contained in each and all of the pages of
this agreement, by a first mortgage on all the mining concessions listed in the
Fourth Clause of this agreement, for which purpose, they undertake the register
the mortgage security in the Land Register Office of North Potosi, indicating
that in everything else they have the right to negotiate potential agreements
with investors outside the Company or within the corporation, but point out that
any obligations thus assumed shall comply with the conditions established in the
present agreement.

                                                                              6
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THE ABOVE TRANSLATION IS, TO THE BEST OF MY KNOWLEDGE AND UNDERSTANDING, A
TRUE, CORRECT AND COMPLETE TRANSLATION OF THE ORIGINAL DOCUMENT IN SPANISH.
<PAGE>

SEVENTH. CONDITION SUBSEQUENT. THE PURCHASERS are bound by and undertake to
comply with the provisions of this Agreement per Article 494 of the Civil Code,
thus any failure to comply with the terms herein contained shall be considered a
Condition Subsequent for the resolution of this contract at the unilateral
decision of THE VENDORS. Likewise, the obligations of price and form of payment
established shall be complied on the dates and on the conditions indicated and
for this purpose THE PURCHASERS shall deposit the amounts agreed upon in United
States currency or provide a check endorsed by the issuing banking institution
or the institution on which the check is drawn, in the same currency. Payment in
kind shall be delivered at the end of each month, at the offices of VISTA GOLD
CORP. in La Paz and an acknowledgement of receipt shall be issued for said
payment. THE PURCHASERS are bound and undertake not to sell their shares of
stock to third parties within the first two years calculated from the date of
the Public Deed. Contravention to this restriction shall be cause to rescind the
contract.

EIGHTH. REPRESENTATION OF THE PURCHASERS. THE PURCHASERS expressly state that
they have made all the necessary arrangements for the execution of this contract
and that they know the sites where the mining concessions are located, the
properties themselves, equipment and machinery which form part of the assets
being transferred as well as the financial situation of the company, the
liabilities of the company particularly the obligation held by the institution
formerly known as FONVIS and any other that may be reflected in the Financial
Statements and General Balance Sheet as of September 30, 1999 and the Balance
Sheet and Financial Statements as December 20, 1999, which is the Closing
Balance Sheet for this legal-economic transaction.

NINTH. OBLIGATIONS OF THE PURCHASERS. The purchasers undertake to comply
strictly with the provisions of Article 84 and following of the Mining Code with
reference to the environmental obligations, releasing the former shareholders of
YAMIN LTDA. of any and all responsibility in this regard. Likewise they are
obligated and undertake to comply with the obligations assumed hereunder
regarding the sale / purchase of the shares of stock.

                                                                              7
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THE ABOVE TRANSLATION IS, TO THE BEST OF MY KNOWLEDGE AND UNDERSTANDING, A
TRUE, CORRECT AND COMPLETE TRANSLATION OF THE ORIGINAL DOCUMENT IN SPANISH.
<PAGE>

TENTH. OBLIGATIONS OF THE VENDORS. THE VENDORS are obligated and undertake to
deliver all the documentation, public deeds, titles and other documents and
administrative resolutions that cover the proprietary right of the mining
concessions, the proprietary right of the shareholders that assign the shares of
stock, the documents that show the validity of the Sociedad Industrial Minera
YAMIN LTDA., the respective Balance Sheets up to 1999 and the Closing Balance
dated December 20, 1999.

ELEVENTH. DOCUMENTS TO BE INCORPORATED INTO THIS AGREEMENT. Power of Attorney
granted by the Board of Directors of VISTA GOLD CORP. to its representative,
Eng. Romulo Sasamoto Arano Pereda; Power of Attorney granted by Mr. David
Anthony O'Connor to his representative to execute this agreement; Administrative
Resolution No. 06329/97 dated October 22, 1997.

TWELFTH. NOTARIZATION AND PAYMENT OF TAXES. Upon execution of this Preliminary
Agreement, THE PURCHASERS assume the responsibility for the payment of the taxes
in respect of the transfer of shares, registration in the notary's protocol and
notary's fees, as well as the expenses in respect of registration in the
respective Registers to perfect this transfer of shares of stock.

THIRTEENTH. PRIVATE DOCUMENT. The parties recognize that this preliminary
agreement has the status of a private document until such time as it is
notarized before the Public Notary Office, in accordance with the provisions of
the Civil Procedures Code.

FOURTEENTH. AGREEMENT. The undersigned, Romulo Sasamoto Arano Peredo, legal
representative of VISTA GOLD CORP. and Raquel Ines Portillo de Reynaga, power of
attorney for Mr. David Anthony O'Connor, in their capacity as THE VENDORS;
Freddy Mancilla Cazorla, in his own right and in representation of the company
Empresa Minera Multiple Capacirca, S.A. and Mr. Boris Romero Guzman, on his own
right, in their capacity as THE PURCHASERS, state to be in agreement with each
and everyone of the clauses of this document and undertake to comply fully and
strictly with its provisions.

                                                                              8
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THE ABOVE TRANSLATION IS, TO THE BEST OF MY KNOWLEDGE AND UNDERSTANDING, A
TRUE, CORRECT AND COMPLETE TRANSLATION OF THE ORIGINAL DOCUMENT IN SPANISH.
<PAGE>

Mr. Notary, please add the clauses required by law for this instrument to be
legally valid and binding.

                            La Paz, January 31, 2000
                                     VENDORS

[SIGNED]                                 [SIGNED]
Romulo Sasamoto Arano Peredo             Dr. Raquel Portillo de Reynaga
Representative of VISTA GOLD CORP.       Power of Attorney for David A. O'Connor

                                   PURCHASERS
                     Empresa Minera Multiple Capacirca S.A.

                                    [SIGNED]
                             Freddy Mancilla Cazorla
                                 REPRESENTATIVE

[SIGNED]                                             [SIGNED]
Freddy Mancilla Cazorla                              Boris Romero Guzman

                                                                              9
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THE ABOVE TRANSLATION IS, TO THE BEST OF MY KNOWLEDGE AND UNDERSTANDING, A
TRUE, CORRECT AND COMPLETE TRANSLATION OF THE ORIGINAL DOCUMENT IN SPANISH.

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