Golden Phoenix der Moly - Produzent

GOLDEN PHOENIX REPORTS PROGRESS AT ASHDOWN
MOLYBDENUM MINE; MINING CREWS ENCOUNTER FURTHER HIGHGRADE
SPARKS, NV, March 21, 2007 - Golden Phoenix Minerals, Inc. (OTC
Bulletin Board: GPXM - News) 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.goldenphoenix.
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 roundthe-
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 forwardlooking
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
Source: Golden Phoenix Minerals, Inc.
http://www.golden-phoenix.com/documents/GPXMPR32107.pdf

Phoenix (GPXM): Three-nation rise

SILVER PEAK, Nevada – It has taken two weeks, a trip to a Nevada mine, eight hours in a truck and a miner’s dozen hours on conference calls, Skype and e-mail. But I finally figured it out.

Golden Phoenix (OTC:BB: GPXM, Stock Forum), two years ago a rubber-band’s width from Chapter 11 insolvency, has engineered a strategy for gold production, footprints in three nations and royalties that one day could become an El Dorado annuity of income for shareholders.

Longtime director and investment banker Thomas Klein is the earth mover in Golden Phoenix’s rise from the ash-pit. Mr. Klein joined Golden Phoenix during the 2007-’08 credit crisis. Since then, the 50-year-old Montreal resident has erased nearly all debt, settled lawsuits, downsized, eliminated royalty obligations and sealed what looks like a potent joint venture at Scorpio Gold’s Mineral Ridge Gold Project in Nevada.

On the face of it, Golden Phoenix looks like a hornet’s nest of 80-20 and 70-30 partnerships, earn-ins and negotiating hurdles. Not to mention the usual nail-biting about milling permits, equipment and of course, adjacent exploratory drilling at Mineral Ridge on properties called Coyote Ridge and Vanderbilt. Blow-by-Blow of three-nation rollout and principal properties: See presentation.

Yet some investors, including those with stakes in Canada-traded Scorpio Gold (TSX: V.SGN, Stock Forum) and USA-traded Golden Phoenix, are recognizing that Mr. Klein’s stubbornness might lead to an 11,000-acre district of high-grade gold and silver.

“Tom gets credit for bringing everyone to the table,” says Peter J. Hawley, an Ottawa-based executive at Scorpio Mining (TSX: T.SPM, Stock Forum) and as of Jan. 1, CEO of sister company Scorpio Gold. Mr. Hawley’s Scorpio Gold is running the Nevada venture with Golden Phoenix at mothballed Mary Mine and now emerging Mineral Ridge properties and joint venture. The mine and surrounding area from the late 1800s until its closing, because of the 1942 USA War Act, produced about 550,000 ounces of gold, with plenty of high-grade silver.

Our tour of the property came under the stewardship of Paul Dockweiler, a geologist, consultant and someone who gets credit for recognizing the mineralized quartz and intruding granites of the region. Paul and several potent analysts, investors and writers joined us on the tour this week. (Photo: Bob Moriarty, left, Paul, center, Tom Klein, right)

Paul and his Silver Spartan LLC consulting firm of Las Vegas were early into this historic mining area, approximately 5,600 feet altitude and fours’ northwest of Vegas. The 32-year-old Mr. Dockweiler claimed many of the parcels around here and also at one time served as lead geologist for Golden Phoenix Minerals, which is still contracting his services.

 “See these granite foot walls,” Paul Dockweiler tells a small group of us, including Thomas Klein and Mr. Moriarty of www.321gold.com. “Tremendous potential for an open pit.”

The rig (photo here) on site is already stockpiling ore for crushing. Part of the intricate link with Scorpio Gold and the Mineral Ridge joint venture is a requirement that Mr. Hawley be producing gold for delivery if he is to raise his interests’ stake t0 80 percent of the venture from 70 percent. (All photos – Thom Calandra)

He wants it all

Mr. Hawley, a 54-year-old engineer and McGill-trained geologist, says gold output is almost a certainty by mid-2011, even with heap leach recoveries of just 60 percent to 65 percent. Better recoveries will require an on-site mill.

“Look, it takes three to four years to permit for a milling facility in Nevada and we have started that process so before the pad expires we will have built and started a mill,” Mr. Hawley says. “My interest is getting the entire 100 percent of everything here and that would be cash for Golden Phoenix based on a third-party assay of reserves and resources.”

Peter Hawley says his 2011 goal is for one million old-equivalent ounces in a “proven and probable” resource category. “In our Drinkwater pit we already have 375,000 ounces proven and probable,” he says. “I had a theory that the primary mineralization was around the Mary Mine. It was these north-40-west stress faults and north-northeast wrenching faults and a secondary pulse with large dilation zones, my theory that is. We drilled a hole to test one of my theories and we hit 46 feet of 1.1 ounces per ton gold.” That was three miles to the west of the open pit on-site here at Silver Peak, Nevada.

Mr. Hawley tells me Mr. Klein has come a long way in several years of de-toxing Golden Phoenix’s debt load, sloppy strategy and deadwood employees and directors. “Tom Klein mentioned this project to me and (Canada asset manager) Eric Sprott was an investor because of a Golden Phoenix moly mine (this one in the USA). But the company was truly distressed and between Tom and Eric they said this is a rebuild. We’ve done a lot of boot and hammer work since then, 450 samples … and 78 percent came back ore grade. That’s half-an-ounce of gold or better per ton.”

For his part, Thomas Klein acknowledges he is burning the Golden Phoenix candle at three ends: Shining Tree in Ontario, Peru (five properties) and Nevada. His Nevada take: “It is in Peter’s (Hawley) interest to make this a $1 billion project and to pay us $200 million.”

And for my part, I believe we’ll see Peter Hawley and the joint venture ramp up steady gold (and silver) production from the 53 miles of drifts beneath Mineral Ridge as soon as January or February 2011.

Next week, if all goes as planned with an intended property purchase, tiny Golden Phoenix will become entrenched in what appears to be Ontario’s latest hot-button gold district, Shining Tree. It’s halfway between Sudbury and Timmins.

A geologist at a company working in Ontario, Trueclaim Exploration (TSX: V.TRM, Stock Forum), describes Shining Tree as an east-west trending greenstone belt composed of archean felsic-calaalkaline-intermediate-felsic volcanic and metasedimentary rocks with intrusions of mafic to ultramafic rocks as well as later feldspar porphyrys.

Trueclaim’s Bob Komarechka says, “Currently a number of juniors are working in the area such as Goldeye (TSX: V.GGY, Stock Forum), Creso (TSX: V.CXT, Stock Forum), Temex and others. Most of the activity has been for gold exploration although interest in silver is becoming more active.” Trelawney Mining (TSX: V.TRR, Stock Forum) is also in the area.

Note: Thom Calandra owns none of the stocks in this report. Next week, Thom heads back to Nevada to see something at the southern end of the Carlin Trend. Ticker Trax, the subscriber report, today (Friday) cites two publicly- traded Colombia prospects – neither of them in the news -- that appear to be ripe for acquisition. And no, Seafield Resources most certainly is not one of them. See: www.tickertrax.com.

Ticker Trax™ Please see tickertrax.com to learn more about the subscriber service. For an index of free Thom Calandra articles, please click here. For an explanation of our strategies, research methods and disclosure procedures regarding of Ticker Trax and our Stockhouse reports, please visit our readily available Stockhouse articles at Stockhouse.com. Please see: Stockhouse articles – Core Box Revealed. Companies whose site tours I attend for research purposes pay part or all of my airfare and hotel. For the password-protected Ticker Trax library, please see: www.tickertrax.com/Login.aspx.

HOLDINGS: Thom’s holdings are listed for Stockhouse members at www.Stockhouse.com under the “portfolio setting” for user TCALANDRA. It is public and free to view. He owns shares of about 30 companies.

THOM CALANDRA of Ticker Trax helps his audience find value in a quagmire of investment choices. Thom was founding editor of MarketWatch, CBS MarketWatch and FT MarketWatch. He was the voice of Thom Calandra's StockWatch and The Calandra Report. Thom has been covering life-sciences and natural resources since 1988.

http://www.stockhouse.com/columnists/2010/dec/10/...national-up-comer