I have a series of old screwdrivers that I keep for this purpose. You need to weld the tip of the screwdriver to the end of the bolt with a good HOT blast of the mig. Allow it to cool for quite a while (20 mins or more) and it should come free. Just gently jiggle the screwdriver initially back and forth (clockwise/anticlockwise) 1 or 2 degrees until it starts to work loose. By gently teasing it back and forth (with the old screwdriver attached) it will come out. In over 20 years of working on vintage cars, trucks and bikes this routine has worked every single time.
Make sure you weld the screwdriver (a long old bolt will do) on at a bit of an angle so you can get good leverage. Just make sure it will spin within the work area.
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