Section 1
SECTION 1. Any locator, lease applicant, permittee, lessee, concessionaire, assignee, owner, or holder of raining claims or concessions the records of which were lost or destroyed, either totally or partially by reason of the last war or the circumstances arising therefrom, and which have not as yet been reconstituted or reconstructed under an administrative proceeding in the Bureau of Mines, shall file a petition under oath with the Director of Mines for the reconstitution or reconstruction of said records within two years from the date of the approval of this Act, and shall prosecute the same with reasonable diligence in accordance with the rules and regulations to be promulgated by the Secretary of Agriculture and Natural Resources: Provided, That the rights of said locator, lease applicant, permittee, lessee, concessionaire, assignee, owner or holder over such mining claims or concessions are valid and existing at the time said petition for reconstitution or reconstruction of records is filed. Failure to file said petition within the period fixed in this Act, or to prosecute the same with due diligence, shall result in the loss of all rights acquired by virtue of the said location, application, permit, lease or concession, and the land covered by the same shall thereupon be open to relocation or application by third parties in the same manner as if no previous location, application, permit, lease r concession for the same land had ever been made or granted.