Golden Phoenix Applies for Full-Scale Gold Mill at Its Mineral Ridge Mine; Planned Idling of Heap Leach Nears

SPARKS, Nev., Aug 19, 2005 /PRNewswire-FirstCall via COMTEX/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM) has notified the Bureau of Land Management and the Nevada Division of Environmental Protection of its intent to modify the Mineral Ridge Plan of Operations (POO) to allow the addition of a full-scale milling facility at its 3800-acre gold property located near Silver Peak, Nevada. The plan calls for building an on-site mill to process the high-grade ores, supplemented by use of the heap-leach to process lower-grade material.
As part of its strategy to optimize production at the property, Golden Phoenix is preparing to place the current heap-leach operation on stand-by so as to preserve the mine's contained gold resource until it can be economically processed under the modified POO. The leach pad will be idled in the coming weeks as gold recovery drops below its economic threshold due to depletion. Personnel will remain on site to monitor and maintain the facilities and assist in development of the expanded mill and mine plans.

A comprehensive review of the past performance of selective underground mining at Mineral Ridge has lead Golden Phoenix to re-evaluate the one method of extraction that has proven to be economic: milling. Metallurgical testing by the Company and performance records from historic mill operations indicate that a gold recovery rate of 90% or greater is achievable. The Company's new three-tiered approach is to make modifications to the POO; preserve the existing gold resource until it can be economically extracted; and actively identify and explore the zones of mill-grade gold mineralization. A project timeline will be developed after additional engineering work has been completed.

Golden Phoenix Minerals, Inc. is a Nevada-based mining company committed to deliver value to its shareholders by acquiring, developing and mining superior precious and strategic metal deposits in the western United States using competitive business practices balanced by principles of ethical stewardship.

Golden Phoenix Receives Final Approval for Full-Scale Operations at Ashdown Molybdenum Mine
via COMTEX

November 1, 2006

- First U.S. Moly Mine On Line in Current Bull Market -

SPARKS, Nev., Nov 01, 2006 /PRNewswire-FirstCall via COMTEX News Network/ --

Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM) today announced that the Bureau of Land Management (BLM) has approved the Plan of Operations for the Ashdown molybdenum and gold mine located in Humboldt County, Nevada. A Finding of No Significant Impact (FONSI) and Decision Record have been issued and signed by the BLM Winnemucca Field Manager.

The mine is operated by the Ashdown Project LLC, a cooperative venture between Golden Phoenix and Win-Eldrich Mines, Ltd. of Toronto, Canada. Ashdown is being readied to produce molybdenite concentrates for sale through a purchase contract with a London-based brokerage.

Approval of the Plan of Operations makes Ashdown the first new U.S. molybdenum mine to come on line during the current commodity bull market. The mine's reclamation plan has also been approved by BLM and a $216,518 bond, posted on October 19, 2006, is awaiting processing for final acceptance. Prior to bond clearance, mining and milling activities are scaling up under a pre-existing bulk sample permit.

Robert Martin, Executive Vice President of Golden Phoenix, commented, "As moly prices continue to consolidate at historically high levels, our mining crews are starting to deliver high-grade material to the mill. Working with Win-Eldrich through our LLC Management Committee, we are preparing to ramp up the production and sale of moly concentrates as rapidly as possible."

Golden Phoenix Minerals, Inc. is a Nevada-based mining company committed to deliver value to its shareholders by acquiring, developing and mining superior precious and strategic metal deposits in North America using competitive business practices balanced by principles of ethical stewardship. Golden Phoenix owns the Mineral Ridge gold and silver property near Silver Peak, Nevada, the Northern Champion molybdenum mine in Ontario, Canada, and is manager/operator and 60% owner and partner of the Ashdown gold and molybdenum property in Humboldt County, Nevada.

Visit the Golden Phoenix Web site at http://www.Golden-Phoenix.com/

Forward-Looking Statements. Certain statements included herein may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of a number of factors. These risks and uncertainties, and certain other related factors, are discussed in the Company's Form 10-KSB, Form 10-QSB and other filings with the Securities and Exchange Commission. These forward-looking statements are made as of this date and the Company assumes no obligation to update such forward- looking statements as a result of a number of factors.

CONTACT: Golden Phoenix Minerals, Inc. Robert Martin Executive Vice President for Strategic Development 775/853-4919 E & E Communications Paul Knopick 949/707-5365 pknopick@eandecommunications.com

SOURCE Golden Phoenix Minerals, Inc.

Robert Martin, Executive Vice President for Strategic Development, Golden Phoenix Minerals, Inc., +1-775-853-4919; or Paul Knopick of E & E Communications, +1-949-707-5365, pknopick@eandecommunications.com, for Golden Phoenix Minerals, Inc. http://www.Golden-Phoenix.com
Copyright (C) 2006 PR Newswire. All rights reserved

Good to gooooooo!!!!!!

SPARKS, Nev., Jan. 16 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to announce that the Company has finalized a Settlement Agreement and Mutual Release with F.W. Lewis, Inc., The Frank Lewis Revocable Living Trust, and The Sharon F. Lewis Trust, resolving a contract dispute concerning a former lease at the Contact Mine located in Elko County, Nevada.

The parties have mutually agreed to the dismissal of all complaints and the release of all claims. With resolution of the legal issues, all accrued liabilities related to the Contact Mine are extinguished, resulting in the elimination of approximately $3.25 million in current liabilities on the Golden Phoenix Balance Sheet. Results of Company operations for the fourth quarter of 2006 will include a gain on extinguishment of debt for the same amount.

The Settlement Agreement results in no dilution to the Company's existing share capital, and no cash payments or other consideration disbursed to any party.

As a stipulation of the settlement, the Company will cancel a single certificate for 2,753,623 shares of common stock issued to F.W. Lewis, Inc. in October of 2002, in exchange for 2,753,623 replacement shares of common stock issued under Section 3(a) (10) of the of the Securities Act of 1933, as amended. The replacement shares will be equally divided between The Frank W. Lewis Revocable Living Trust and The Sharon F. Lewis Trust, a routine clerical matter that neither increases nor decreases the present number of the Company's issued-and-outstanding shares.

The Company anticipates that it will not pay income taxes on the gain on extinguishment of debt due to the availability of a tax loss carry-forward, which at December 31, 2005, totaled approximately $25 million and which is available to offset future taxable income. Assuming a corporate income tax rate of 34%, the estimated benefit of the tax loss carry-forward at December 31, 2005, a deferred tax asset, is approximately $8.5 million. With the elimination of the $3.25 million obligation, the Company estimates that its deferred tax asset now exceeds its current liabilities. Through September 30, 2006, no benefit for the deferred tax asset had been recognized in the financial statements of the Company.

Robert Martin, Executive Vice President for Golden Phoenix, stated, "With the amicable resolution of this matter, we have put to rest the last major legacy issue that preceded our current restructuring. Combined with the July 7, 2006 resolution of International Enexco's portion of the Contact Mine issues, Golden Phoenix has retired approximately $5.65 million in current liabilities in 2006, at no direct cost to our shareholders. We can now turn our full attention away from the past, and toward the future of Ashdown, Mineral Ridge and Northern Champion."

PPS has been on a downtrend for almost 10 months. It's just about time to get recoverd. Trying to read between the lines I also believe the good news is that the rate of production increased approximately 50% from the January 2007 average of 1,341 pounds of molybdenite per day.
FTS


Golden Phoenix's Ashdown Project Completes Third Sale of Molybdenum Concentrates; Mine Ramp-Up Continues
Thursday February 22, 5:00 am ET

SPARKS, Nev., Feb. 22 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to announce the sale of the third consignment of molybdenite concentrates produced by the Ashdown Project LLC, located in Humboldt County, Nevada.
ADVERTISEMENT

A sale of 12 Supersacks of moly concentrate has been made to Derek Raphael & Company of London, England. The consignment weighed more than 47,000 pounds and contained over 25,000 pounds of elemental molybdenum. Provisional invoice value of the shipment is in excess of $470,000 with a final value to be determined following delivery and processing of the material. Cumulative moly sales to date total approximately $972,000.


This sale marks the first time an entire shipment was produced in one continuous weeklong milling campaign that finished on February 20th. Apart from minor mechanical interruptions, the mill crew was able to operate on a 24-hour basis. Rate of production increased approximately 50% from the January 2007 average of 1,341 pounds of molybdenite per day, to a projected average of 2022 pounds per day during February. The mill is scheduled to resume production next week.

In the Ashdown mine, development crews continue to drive a second raise to increase access to the high-grade mineralization of the Sylvia vein. Once the development work is completed, crews will be able to mine in two directions. At the same time, mining crews have been removing mineralized material along the southern section of the sill drift. Additional development includes extension of the ventilation ducting, completion of a second refuge chamber, start of construction of a truck scale to weigh mine output, and installation of a screening plant to process sand fill used to stabilize the mine workings.

Also adding an interesting post taken from another board. Simply it caught my eyes. I wish it could come true...
FTS

Your estimates are not right or wrong, it's potential numbers. Below I attached a prior post I put together with some of my guesses. Also, you do not account for downtime. Yes, in theory they could do 100tpd but I would not expect more than 80% or so of that. I basically put in a 73% running rate at mill. Yes, the mill can handle 100tpd but they have to get the dirt out of the ground first. I heard some employees at GPXM think they can get there in March/April, I do not know if I believe that. If they can get 70-85tpd average out by summer, than I would be happy with that.
Just remember, these are just guesses, and even if GPXM can do 100tpd, that does not mean they will average 3-4% moly, nor is it 100% the market will reward us for that.

With that said, I am bullish on GPXM, the only thing I can see as a problem would be a cave-in. Also, they need to dump the Fusion financing, when/if they can.

I think if GPXM starts a drill program and find vast more moly than we will be rewarded with a much higher P/E when/if profit comes.

Just my take.

<<<<<<<<<<<>>>>>>>>>>>
this is my thoughts.

100tpd x 22days = 2200t
2200t x .60 = 1320t x .03 = 79200lbs. gpxm share at 60%
2200t x .69 = 1518t x .03 = 91000lbs gpxm share at 69%

60% 79200 x $19 ($5 for productions) = 1.5m a month
69% 91000 x $19 = 1.73m a month

60% .122 a share
69% .141 a share


P/E 15 30 45 60
60% $1.83 $3.66 $5.49 $7.32
69% $2.12 $4.23 $6.36 $8.48

Right now some of my mining stocks are trading well over a 30 P/E... I even had mid-tier producers in the 60 P/E range earlier last year. A new junior should trade at a rather high P/E... if they get into the exploring mode and start finding a lot of material, than 60 P/E would probably be low.

If??? all goes well, why can't this be a $4-12 stock this year? I think these estimates are still estimates, they have to pull the crap out of the ground, you cannot count the money before the have moly in hand.

Basically, .32 is saying this company cannot mine it, which does not seem correct, but the market is always right. Let's see how right we are when the market says $7+.

There's a rumor flying on the other boards that GS will be involved in this Coy. Also there's should be kind of PR next week. PPS poped up 10% on Friday with over double of avg volume. Will be interesting to watch Mon-Fri trading.

Taken from other board.
We (apparently GS) made a determination to invest 5% of our calculated GP future portfolio based on certain information we feel will be released next week, along with the current rise in Moly prices. Before we fully dive into this venture, exploration must be concluded with X years of moly mine life > 2%. Now, that's not to say we won't take another small step before then if our analysts make that determination.

FTS

no matter what - not my slice of cake, lol
JIMO

Sapper, I have held GPXM for quite a while and have been to their office in Sparks.  Several of us will be meeting with the GPXM president in Seattle sometime during the second week of April.  Everything that Ron has told us at the last meeting has taken place.  It will be interesting to see what he has to say.  He holds over 3,000,000 shares of Golden Phoenix.

Popeye, do you envisage any surprise (in a positive way) info from the president at your meeting? Apparently he's a trusty man if his words to investors come true. BTW, how would you assess the current PPS? It's been on a downtrend almost for a year. Time to reverse....
FTS

GPXM has had a downtrend because all of the work has been exploratory.  The company has yet to file on a net profit which should happen within the next two quarters.  I believe that this year will be a very good year for Golden Phoenix.  They are now producing and are in one of the richest if not the richest molybdenum ares in the world.

Popeye,
Do you think that within the next couple of years this company will be in the position to get out of the OTCBB, and file with a bigger exchange?

Seth, I will make it a point to ask Ron next week when we meet.  With the world class molybdenum deposit now producing it will be a lot easier to get the gold mining exploration and possible production on track.

Golden Phoenix Reports Progress at Ashdown Molybdenum Mine; Mining Crews Encounter Further High-Grade

SPARKS, Nev., March 21, 2007 /PRNewswire-FirstCall via COMTEX/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM) is pleased to report continued progress in the development and production of molybdenum concentrates at the Ashdown Project LLC mine, located in Humboldt County, Nevada.

Underground crews continue to extract molybdenite along the southern section of the Sylvia sill drift. The crews blasted south approximately 135 feet, increasing the daily volume of mineralized rock being removed and delivered to the mill. As drifting continued, the grade abruptly increased along the last 35 feet. In-house face assays have returned values of 3%-to-7% Mo, equivalent of up to $4,000 per ton value, awaiting confirmation by outside labs. This is an exploratory drift running south from the known high-grade zone in an area defined by little previous data. The width of the vein has also expanded from between four-and-five feet to an average of approximately eight feet, with some sections reaching up to 14 feet in total thickness.

Work progresses on the development of a second high-grade stope located in the main Sylvia zone to the north of the current mining. This stope is designed to open two new faces within the known high-grade portions of the vein over the coming weeks, and will replace the previously developed stope access due to superior efficiencies in working geometry and rock quality.

Development crews are also making excellent progress on the southwest crosscut that will open access to the down-dip extension of the high-grade zone. (Updated site maps are available at http://www.golden-phoenix.com) This area, which lies about 110 feet down-dip from the current working level, will provide access to an estimated 15,000-ton block of mineralization within the expected highest-grade segment of the vein. This represents approximately six-months production in addition to that accessed by the upper stope. Over 110 feet of crosscut has been blasted and is nearing intercept with the vein. When completed, this crosscut will allow the opening of a number of new working faces in the high-grade zones, giving more miners access to the higher quality mineralization. Six additional miners have been added to the staff, bringing the current total to 24 underground personnel. This has increased both production and development activity throughout the mine.

David A. Caldwell, CEO and Chief Geoscientist for Golden Phoenix, commented, "The discovery of the additional mineralization in the south extension of the Sylvia drift highlights the potential for future discovery on the Ashdown property. We are currently planning to utilize targeted geologic and geophysical methods that we believe are uniquely suited to unlocking the true magnitude of this largely unexplored property."

The mill has also increased its staff levels and is now capable of round- the-clock operation. The mill has been running continuously during March, except for a five-day scheduled maintenance and upgrade period during which mill feed continued to be stockpiled. The mill resumed production on March 13, 2007 and continues to produce and bag moly concentrate for near-term sale and shipment. Recoveries at the mill have improved rapidly through this ramp-up period and are now generally up to 90-to-95%, with concentrate values averaging 54% Mo. Work continues on the metallurgy of the deposit, with variances in the mineralogical composition of the moly-bearing rock being addressed through bench-testing at the mill.

The 350-foot surface hole, which was drilled two months ago, has now been accessed underground. This 12-inch hole provides communication and ventilation to the deepest portions of the workings. A refuge chamber is being constructed adjacent to the hole to provide the mine crews additional safety support. It will also allow for the delivery of sand to backfill and stabilize the active stopes as they are mined, opening the way for full-scale stope mining to proceed.

Spring weather has arrived at the mine, with milder temperatures facilitating all aspects of production. Water intrusion into the mine, which occurred two months ago, has abated and the working conditions are currently ideal.

Visit the Golden Phoenix Web site at http://www.Golden-Phoenix.com/

Quoted from eugj

no matter what - not my slice of cake, lol
JIMO

May I ask why Eugj? This company has decent financials, and has a strong strategic plan. They are starting to show some promising signs, albeit, starting is the emphasing word here.

Quoted from Seth

May I ask why Eugj? This company has decent financials, and has a strong strategic plan. They are starting to show some promising signs, albeit, starting is the emphasing word here.

Just don't like their Balance sheet right now

once they improve their balnce sheet, well, maybe

Nice move so far today. Up almost 10%. Touching 200MA.
FTS

It appears we may be on the verge of Molymania. It would only help GPXM for the long haul
FTS

Just taken from other web site

It's not often that I would make any future Moly price projections outside of an editorial piece on Moly, but today I must as I don't have time for a lengthy editorial at present. After conversations today with one who is far more connected than I could ever hope to be w/ regards to Moly (& Uranium) players and worldwide demands going forward, I found my own past and present optimism on Moly prices being soundly confirmed. In a nutshell we are in the latest & still early stages of the "REAL" Molymania. (last years (2) were just the opening salvo).

I'm hearing we will see $50.00 Moly in /07 and the mania will equal what we have seen (and will see more of) in the Uranium sector. Apparently from another source also today, I hear that already some end users are trying to outbid for Moly production from a couple of Jr miners who have entered into off-take agreements (abeit too early price wise) by offering higher prices.

These are all things that I have expected would happen and written about in past. If you love Moly plays hang in there for the longer haul, buy a near-term producer with a BFS in hand and enjoy the ride on the Moly express. I do believe in the next 8 months many Moly nay-sayers are going to be very sorry they didn't pay more attention to just how much more world Moly demand there is & will be compared to production over the next few years.

Sapper ,
I have to somehow agree with you on this company overall,
but: I have a Question - what is Molymania ? or  Moly  as you call it ?
I might sound stupid but I really don't know - and what is it used for?
thanks

Mania is something you are obssessed with. Add Moly and see that's kind of Moly Rush or Moly fever lika e.g. Gold fever. Everybody talks, buys, analyze it etc...
FTS

Quoted from Sapper

Mania is something you are obssessed with. Add Moly and see that's kind of Moly Rush or Moly fever lika e.g. Gold fever. Everybody talks, buys, analyze it etc...
FTS

thank you very much - and I thought it was some king of material, lol

ok, thanks again

Another interesting day for GPXM (also had a nice run yesterday). It made kind of double top around $0.38 and moving down. Apparently it's a certain level of resistance .
I'm trying to get rid off my loosers and free up some funds to load up more as the time goes. Not even trying to guess PPS by the end of this year or the next one.
FTS

Sapper,
It seems like all your stocks are in  MINRL.
please don't put all your money in one nestegg.
Deversify as much as you can

Eugj,
you are quite right. Minerals are my preferable field of investing. I try to sort out and find the ones with the real potential. I used to have som techs but I burnt up myself a loooot.....
Looking at the global economy / financial world and the future prospects I would say the commodity field will have one of the best performance. IMHO

FTS

Quoted from Sapper

Eugj,
you are quite right. Minerals are my preferable field of investing. I try to sort out and find the ones with the real potential. I used to have som techs but I burnt up myself a loooot.....
Looking at the global economy / financial world and the future prospects I would say the commodity field will have one of the best performance. IMHO

FTS

YES,
overall imo the Energy stocks in a whole, will most likely the best,
but diversify - OIL - BIO FUEL - ETHANOL - SOLAR  etc.

I do have some solar stocks as well. Energy on radar.
FTS

Quoted from Sapper

I do have some solar stocks as well. Energy on radar.
FTS

ok -  good luck and one Solar stock is WWAT.OB

imo only

10K out as of yesterday. Surely not a great one. Too many talks and opinions around so I just did quit and left only the free shares. Once there are more proofs I will be back in. In general I am positive about GPXM, but carefull.
FTS

Nice chart pattren since the mid of March. Golden cross to occur in a short time. Apparently, 0.47 may become kind of resistance. In case we fall back on 200MA. I believe that would be great chance to load up the boat. Moly has the potential to go up. JMO
a FTS

Sapper hop in the chat and check it out!

Several trades at .515 this morning.  On 3-9-07 it closed at .29.

popeye ,
YOU LIKE THIS COMPANY ????

Eugi, I have held stock in GPXM since the .12 level and plan to stay for at least 18 more months.  The surging molybdenum prices are just what this company  needs for price appreciation.  The company has the richest molybdenum deposit in the world and they are just getting started.  

Wow !  thanks popeye ,
I really appreciate that and will look at it for sure,
because that are really stocks I look for, thanks again