UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 18,1996
____________________
USMX, INC.
(Exact name of registrant as specified in its charter)
____________________
Delaware 0-9370 84-1076625
(State or other jurisdiction of Commission (I.R.S. Employer
incorporation or organization) File Number Identification No.)
141 Union Boulevard, Suite 100
Lakewood, Colorado 80228
(Address of principal executive (Zip Code)
offices)
(303) 985-4665
(Registrant's telephone number, including area code)
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Item 5. Other Events
a) On April 18, 1996, Donald P. Bellum was elected
Chairman of the Board of Directors and Chief Executive
Officer of the Company, effective May 1, 1996. Mr. Bellum
has served as a member of the Company's Board since 1992.
He has over 38 years of experience in the mining industry
including management positions with Utah International,
Kennecott, Amoco Minerals and Cyprus Minerals, and is
currently a consultant to the mining industry. Mr. Bellum
retired as Executive Vice President of Cyprus Minerals
Company and was a key member of the management team that
built Cyprus Minerals into a major mining company during the
1980s and early 1990s.
Mr. Bellum will receive a salary of $16,800 per month and
has been granted an option to purchase up to 150,000
shares of the Company's common stock at $2.55 per share.
The options vest in annual installments of 50,000 shares
each commencing on the date of grant. Vesting would
occur in the event of termination of Mr. Bellum's
employment without cause. This would include a change in
control wherein the Company's executive offices were
relocated or his duties were changed in a substantial
manner.
James A. Knox will continue to serve as the Company's
President through June 30, 1996. Thereafter, Mr. Knox
will concentrate his duties in the areas of acquiring
mineral properties and mining operations for the Company.
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Signatures
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly
authorized.
USMX, INC.
(Registrant)
/s/ Donald E. Nilson
Date: April 29, 1996 By:____________________________
Donald E. Nilson, Vice President-
Finance, Secretary
