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Golden Phoenix Minerals Inc. (GPXM) Takes Flight with Precious Metals

Founded in 1997, Golden Phoenix Minerals, Inc. is an OTCBB-traded company headquartered in Sparks, Nevada. They acquire, develop, and mine superior precious and strategic metal deposits in North America. They focus their efforts on properties that contain deposits of gold, silver, molybdenum and other minerals. Their current market capitalization is $17.42 million.

The company owns the Mineral Ridge gold and silver property near Silver Peak, Nevada. They also own the Northern Champion molybdenum mine in Ontario, Canada. Golden Phoenix Minerals Inc. is also manager/operator and majority owner of the Ashdown Project LLC gold and molybdenum property, jointly held by Win-Eldrich Mines Ltd. of Toronto. Win-Eldrich owns their share through their U.S. subsidiary, Win-Eldrich Gold Inc.

Golden Phoenix’s Mineral Ridge Gold & Silver Mine gold deposits are on the northeast portion of the Silver Peak Mountain Range in Esmeralda County, Nevada. Records show the mine historically produced 680,000 ounces of gold. It has underground workings, open pits, a six-acre heap leach operation, an ADR facility, and a high-volume crusher plant. This mine is currently inactive while the company performs engineering work to streamline future operations.

The Northern Champion mine is in south-central Ontario, Canada, near the town of Renfrew. This approximately 700-acre claim group contains molybdenite deposits in two different types of formations located near the surface. Golden Phoenix acquired the mine and a NI 43-101 Technical Report in 2006. Formerly a producing mine, it is now undergoing geological exploratory work to determine the scope of its resources and reserves.

Golden Phoenix’s Ashdown mine consists of 293 unpatented lode-mining claims covering nine square miles in Humboldt County, Nevada. Ashdown contains an estimated 65,000-ounce gold mineralization as well as a drilled-and-sampled high-grade molybdenum disulfide deposit. Commercial production of molybdenum concentrate began here in December of 2006.

Golden Phoenix Minerals Inc. looks for properties that are near production. They also seek properties that have the potential for additional discoveries. The company desires to acquire properties through purchase or partnership agreements.

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