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wenn da nicht zweitens so eine Minengesellschaft selbst im Winter ihre Löcher mit dem Bohrgerät in den Boden treiben würde.
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Und wenn sie an die Beherbergungen in dieser Gegend denken,
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dann gehen sie wohl zum Hauptquatier der Golden Phoenix
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um zu aller letzt den Gipfel der 1000% Kursgewinne wie Steve es sieht selber zu sehen!
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http://www.knobias.com/individual/public/...fbe48666053fe8e78027d0715
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Wednesday March 29, 5:00 am ET
SPARKS, Nev., March 29 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to announce it has retained the New York based investor relations firm, O&M Partners LLC, to implement an institutional targeting program designed to attract new investor interest. The spring program, scheduled to begin in April, will provide introductions to the U.S. investment community.
ADVERTISEMENT
David A. Caldwell, President of Golden Phoenix, stated, "O&M Partners has a history of building institutional support for emerging resource companies that exhibit strong management and advanced geological capabilities. O&M has identified our Company, and in particular its Ashdown molybdenum project, as well-suited to its focus on expanding the following of small-cap generalist funds seeking participation in the metals sector."
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, and is manager/operator 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.
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phoenix002.png (verkleinert auf 99%)
Golden Phoenix Initiates Bulk Sampling at Ashdown; Commences Startup and Testing of Its Molybdenum Mill
Tuesday May 9, 3:10 am ET
SPARKS, Nev., May 9 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to report that on Friday, May 5, its mining crews began removing molybdenum-bearing material from the North Zone of its Nevada-based Ashdown mine in accordance with a 1000-ton bulk sample program permitted by the Bureau of Land Management.
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The moly-bearing material is hosted in the North and South Zones of the Sylvia vein structure, a high-grade mineralization potentially ranging from 1%-to-15% elemental molybdenum (Mo). Golden Phoenix is permitted to take 1000 tons of this material in order to test-process and trial-market a molybdenite concentrate, which is used in a variety of industrial, chemical and pharmaceutical applications.
During this period, Jonathan Sprecher, an independent economic geologist, has been directed by Golden Phoenix to perform a multi-stage evaluation of Ashdown's molybdenite resource under the SEC Guide 7 and Canadian NI 43-101. The first section of his analysis, limited to the South Zone, has been completed. It delineates 4,220,240 pounds Mo (2,774,360 measured plus 1,445,880 indicated) along a 950-foot strike, sufficient to feed Ashdown's 100-ton mill for approximately four years.
Mr. Sprecher will next quantify the North Zone, followed by other mineralized areas known to exist along the Sylvia trend. Once compiled, the data will be used to extend known mineralization and expand the current resource base. The final stage of Mr. Sprecher's analysis will define proven and probable mineable reserves.
David A. Caldwell, President of Golden Phoenix, commented, "The start of bulk sampling and test-processing marks a milestone in our Company's restructuring as we transition from development to production. I believe the Ashdown project is slated to become the highest-grade moly producer to come on line in the current bull market cycle. After 18 months of team effort and individual sacrifice, we all look forward to guiding the project through its test phase to final permits and full-scale production over the coming months."
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, and is manager/operator 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
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Golden Phoenix Initiates Formation of Operating Company With Win-Eldrich to Launch Molybdenum Production at Ashdown MineTicker Symbol: U:GPXM U:WEX C:WEX
SPARKS, Nev., Aug. 30 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. is pleased to announce that it has initiated a plan with joint venture partner, Win-Eldrich Mines, Ltd., , Toronto, Canada, to create a limited liability company (LLC) that will manage and operate the Nevada-based Ashdown molybdenum mining project on behalf of the partners.
The plan was formalized in a Letter Agreement dated August 29, 2006, stipulating the creation of an LLC in which Golden Phoenix will hold a 60% interest and Win-Eldrich will hold a 40% interest. The Letter Agreement defines the steps to be taken over the next five weeks to reconcile the Golden Phoenix earn-in expenditures and to complete transfer to the LLC of each partner's project assets, including the underlying mineral rights, the fully-operative mill facility and preexisting contracts.
In the interim, Win-Eldrich will transfer $550,000 to Golden Phoenix by August 31, 2006 as estimated payment of Win-Eldrich's contribution for the current quarter. Following formation of the LLC, Win-Eldrich will also release to Golden Phoenix 60% of the net proceeds derived from the processing and sale of stockpiled molybdenite ore, which was accomplished under Win-Eldrich's direction in 2005. Upon the completion of financial reviews by each partner final adjustments to both payments are to be made by September 30, 2006.
The LLC will be a Nevada-based company governed by a five-person board selected in proportion to the 60/40 ownership interests. One of the members will be an independent industry professional to be appointed by Golden Phoenix. Continuity of management will be maintained during the interim period by Golden Phoenix under contract to the LLC. VP Operations Don Prahl and Mine Manager Earl Harrison will continue to lead the on-site effort.
David A. Caldwell, President of Golden Phoenix, commented, "This LLC structure will promote tightened communication, faster response times, and an efficient partnership forum by which to guide the growth and direction of the Ashdown mine. As the market price for moly oxide strengthens, the LLC will expedite the start of concentrate production, complete access to the bonanza grades in the South Zone, and aggressively pursue expansion of the overall resource."
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
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Einstieg mit 12,9 Cent an 26. August 2005 voll gelungen!
Performance siehe nachfolgende Charts!
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Es liegt aber nicht am Molypreis sondern die Firma wieder mit jeden Tag profitabeler und die Schulden werden abgebaut!
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Allerdings werden in den nächsten Berichten erst die Gewinne aus der Produktion der Ashdown Mine generiert sein und das unglaubliche Potenzial von unserem Phönix anzeigen - stetig steigent und dementsprechend auch der Aktienkurs.
Ganz zu schweigen von den anderen Projekten -
Figure 1. Map showing the locations of the Nevada properties discussed in this report. Ashdown and Mineral Ridge remain the only active properties, with the assets at Borealis and Contact both having been 100% divested in 2006.
Figure 2. Map showing the Northern Champion property located within the Province of Ontario, Canada. This property was acquired in April 2006.
(Kleiner Auszug aus dem Quarterly Report vom 14.11.2006)
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| Press Release | Source: Golden Phoenix Minerals, Inc. |
Golden Phoenix Resolves All Remaining Issues at Contact Mine; Removes $3.25 Million in Debt From Balance Sheet
Tuesday January 16, 9:00 am ET
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 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."
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 majority owner and partner of the Ashdown Project LLC 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.
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| Pressekommuniquã# | Quelle: Golden Phoenix Minerals, Inc. |
Goldenes Phoenix behebt alle restlichen Ausgaben an der Kontakt-Grube; Entfernt $3.25 Million in der Schuld von der Bilanz
Dienstag, die 16.,9. Januar: 00 morgens UND
FUNKEN, Nev., 16. Jan. /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Anschlagbrett: GPXM - Nachrichten) freuen sich, zu verkünden, daß die Firma einen Abfindungsvertrag und eine gegenseitige Freigabe mit F.W. Lewis, Inc., das aufrichtige Lewis widerrufliche lebende Vertrauen und das Sharon F. Lewis Vertrauen beendet hat und eine Vertrag Debatte hinsichtlich ist einer ehemaligen Miete an der Kontakt-Grube behoben, die in der Elko Grafschaft gelegen ist, Nevada.
Die Parteien haben gegenseitig die Entlassung aller Beanstandungen und der Freigabe von allen Ansprüche zugestimmt. Mit Auflösung der zugelassenen Ausgaben, werden alle anfallenden Verbindlichkeiten, die auf der Kontakt-Grube bezogen werden, mit dem Ergebnis der Beseitigung von ungefähr $3.25 Million in den fälligen kurzfristigen Verbindlichkeiten auf der goldenen Phoenix Bilanz ausgelöscht. Resultate der Firmabetriebe für das vierte Viertel von 2006 schließen einen Gewinn auf Auslöschung der Schuld für die gleiche Menge ein.
Der Abfindungsvertrag ergibt keine Verdünnung zum vorhandenen Aktienkapital der Firma und keine Barzahlungen oder andere Betrachtung, die zu jeder möglicher Partei ausgezahlt werden.
Als Bedingung der Regelung, annulliert die Firma eine einzelne Bescheinigung für 2.753.623 Anteile Stammaktien herausgegeben zu F.W. Lewis, Inc. im Oktober von 2002, gegen 2.753.623 Wiedereinbauanteile Stammaktien herausgegeben unter Abschnitt 3 (a) (10) von der Sicherheiten Tat von 1933, wie geändert. Die Wiedereinbauanteile werden gleichmäßig zwischen das aufrichtige W. Lewis widerrufliche lebende Vertrauen und das Sharon F. Lewis Vertrauen, eine kanzleimäßige routinemäßigangelegenheit geteilt, der weder die anwesende Zahl den herausgeben-und-hervorragenden Anteilen der Firma erhöht noch verringert.
Die Firma nimmt, daß sie nicht Einkommenssteuern auf dem Gewinn auf der Auslöschung der fälliger Forderung fällige Forderung zur Verwendbarkeit eines tragen-Vorwärts Steuerverlustes zahlt, der bei 31. Dezember 2005 vorweg, zusammengezählt ungefähr $25 Million und der vorhanden ist, zukünftiges steuerpflichtiges Einkommen zu versetzen. Eine Rate der Körperschaftssteuer von 34% annehmend, ist der geschätzte Nutzen des Steuerverlustes, der bei 31. Dezember 2005, ein Ausfallzahlungenwert tragen-Vorwärts ist, ungefähr $8.5 Million. Mit der Beseitigung der Verpflichtung $3.25 Million, schätzt die Firma, daß sein Ausfallzahlungenwert jetzt seine fälligen kurzfristigen Verbindlichkeiten übersteigt. Bis 30. September 2006 war kein Nutzen für den Ausfallzahlungenwert in den Finanzberichten über die Firma erkannt worden.
Robert Martin, Executivvizepräsident für goldenes Phoenix, angegeben, „mit der freundlichen Auflösung dieser Angelegenheit, haben wir uns gesetzt, um die letzte Hauptvermächtnisausgabe stillzustehen, die unser gegenwärtiges Umstrukturieren voranging. Kombiniert mit der 7. Juli 2006 Auflösung von Teil internationalen Enexcos der Kontakt-Grube Ausgaben, hat goldenes Phoenix sich ungefähr $5.65 Million in den fälligen kurzfristigen Verbindlichkeiten 2006, an keinen direkten Kosten zu unseren Aktionären zurückgezogen. Wir können unsere volle Aufmerksamkeit weg jetzt drehen von der Vergangenheit und in Richtung zur Zukunft von Ashdown, von Mineralkante und von Nordmeister.“
Golden Phoenix Minerals, Inc. ist eine Nevada-gegründete Minenfirma, die festgelegt wird, um Wert an seine Aktionäre zu liefern, indem es erwirbt, entwickelt und gewinnt überlegene kostbare und strategische Metallablagerungen in Nordamerika mit den konkurrierenden Geschäftsverfahren, die durch Grundregeln der ethischen Führung ausgeglichen werden. Goldenes Phoenix besitzt die Mineralkantegold- und -silbereigenschaft nahe silberner Spitze, Nevada, die Nordmeistermolybdängrube in Ontario, Kanada und ist Manager/Operator- und Majoritätsinhaber und Partner der Ashdown Projekt LLC Gold- und Molybdäneigenschaft in der Humboldt Grafschaft, Nevada.
Die goldene Phoenix Web site bei http://www.Golden-Phoenix.com/ besichtigen
Vorwärts-Schauen von Aussagen. Bestimmte Aussagen, die hierin eingeschlossen sind, können das Vorwärts-Schauen von Informationen innerhalb der Bedeutung von Richtlinie 175 unter der Sicherheiten Tat von 1933 und von Richtlinie 3b-6 unter dem Börsengesetz von 1934 enthalten und sind abhängig von dem sicheren Hafen, der durch jene Richtlinien hergestellt wird. Alle Aussagen, anders als Aussagen über Tatsache, einschließlich, ohne Beschränkung, die Aussagen betreffend sind mögliche zukünftige Pläne und Zielsetzungen der Firma, Vorwärts-schauen Aussagen, die Gefahren und Ungewißheiten miteinbeziehen. Es kann keine Versicherung geben, die solche Aussagen genau sind und tatsächliche Resultate und zukünftige Fälle von denen materiell sich unterscheiden konnten, die in solchen Aussagen vorweggenommen wurden. Die tatsächlichen Resultate der Firma konnten von denen materiell sich unterscheiden, die in solchen Vorwärts-schauenden Aussagen resultierend aus einer Anzahl von Faktoren vorweggenommen wurden. Diese Gefahren und Ungewißheiten und bestimmte andere in Verbindung stehende Faktoren, werden in der Form 10-KSB der Firma, in der Form 10-QSB und in anderen Archivierungen mit der Sicherheiten und Austausch-Kommission besprochen. Diese Vorwärts-schauenden Aussagen werden bis heute abgegeben und die Firma nimmt keine Verpflichtung an, solche Vorwärts-schauende Aussagen resultierend aus einer Anzahl von Faktoren zu aktualisieren.
KONTAKT: Golden Phoenix Minerals, Inc. Robert Martin Executivvizepräsident für strategische Entwicklung 775/853-4919 E u. E Kommunikationen Paul Knopick 949/707-5365 pknopick@eandecommunications.com
Quelle: Golden Phoenix Minerals, Inc.
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| #109 von Knappschaftskassen © 06.02.07 13:50:58 Beitrag Nr.: 123.456.789.2 | GOLDEN PHOENIX MINERALS INC | ||
| " Nur " eine Danksagung: Ken Ripley, vor dem Mann kann man nur noch den Hut ziehen und mir bleibt nur noch eins zu Sagen - Danke Ken, wir haben Dir viel zu verdanken. Alle guten Wünsche begleiten Dich......  Kenneth Ripley Chief Executive Officer http://www.golden-phoenix.com/index.htm -------------------------------------------------- Recent Questions February 5, 2007 Q: Is there more to the story of Ken Ripley's leaving? A: When Rob Martin first approached the Board of Directors with the idea of revitalizing the company near the end of 2004, the Board asked who might help make that happen. Rob suggested a life-long friend and business associate of his, Ken Ripley, who at the time was living in semi-retirement with his family near Seattle. Rob knew Ken had the talent, experience and business acumen needed to jumpstart the process. Always ready for a challenge, Ken generously agreed to assist. At the time, it was felt that Ken might only be needed for three-to-six months. That was 24 months ago. During that period, Ken put his life on hold and gave 110% to the effort of improving the company and building the Ashdown mine. He lived on-site at the mine for months during the freezing winters and searing summers. He worked with his hands as well as his mind. He gave not only his time, but also his equipment and his funds. The Board is deeply indebted. When Ashdown sold its first shipment last week, in essence, Ken had delivered on his promise to the Board to restore the company and create a working mine. While he was encouraged to remain active within the company structure, Ken now wishes to return to his private life in order to spend more time with his daughter Kristen and son Kyle. He remains very supportive of the company and has made himself available for advice and input as we move to the next level. Our hats are off to Ken for a job truly well done. -------------------------------------------------- Miners near the face of the Sylvia Vein  ...einem kontinuierlichem Kursanstieg steht jetzt m.E. nichts mehr im Wege und wenn der Produktionsverlauf zukünftig weiterhin so positiv verläuft, der kann sich in den nächsten 2-3 Jahren auf Kurse bis 3 Euro freuen. Gruß Knappschaftskassen | |||
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Golden Phoenix Reports Progress at Ashdown Molybdenum Mine; Mining Crews Encounter Further High-Grade
SPARKS, Nev., March 21 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, (Nachrichten) Inc. (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/
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 majority owner of the Ashdown Project LLC gold and molybdenum property held jointly by Golden Phoenix Minerals, Inc. and Win-Eldrich Mines, Ltd. of Toronto, Canada through its US subsidiary, Win-Eldrich Gold, Inc.
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 President 775/853-4919 E&E Communications Paul Knopick 949/707-5365 pknopick@eandecommunications.com