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Golden Phoenix Names Craig Patrick Vice President of Corporate Development

Posted on: Thursday, 14 June 2007, 12:15 CDT

SPARKS, Nev., June 14 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (BULLETIN BOARD: GPXM) , is pleased to announce that Craig Patrick has joined the Company in the position of Vice President Corporate Development. Mr. Patrick will be working at both corporate headquarters and the Ashdown Project LLC in Denio, Nevada.

Craig Patrick is a 38-year mining industry veteran with underground and surface experience in both hard and soft rock mining throughout the United States, Australia, Latin America and Africa. He has served in numerous senior level positions with major mining companies, successfully streamlining new operations, reducing costs, directing employee relations and supervising new hires.

As VP Corporate Development, Mr. Patrick will initially focus on attracting mining talent as well as streamlining human resources, security, safety and purchasing at Ashdown, before assuming additional duties at corporate headquarters. David A. Caldwell, CEO of Golden Phoenix, welcomed Mr. Patrick, saying, "Craig is a multi-faceted manager who will help us create the environment to attract and retain top talent. Craig understands the importance of optimizing operations, for the sake of the employees as well as our shareholders. His drive and positive outlook will add to our momentum."

Mr. Patrick comes to Golden Phoenix from Phelps-Dodge Mining Company where he was a Resource Management Consultant focused on optimization of mine lifecycle costs. Prior to that, Mr. Patrick was Vice President of Kennecott Energy Company, where he oversaw Safety, Human Resources and Public Relations for operations in Montana, Wyoming and Colorado, with special emphasis on reorganizing and growing the company via acquisition and merger. Mr. Patrick has also served as Director of Operational Excellence and Safety for Asarco, Inc. in Tucson, Arizona, where, as a General Electric Certified Acceleration Process Facilitator, he oversaw the transition from a "compliance" to a "commitment" culture. Mr. Patrick was also Vice President for Human Relations for the Stillwater platinum/palladium mine expansion in Montana, and Regional Director for Cyprus Minerals, managing human resources and safety for its gold, lithium, copper and molybdenum operations throughout the US, Latin America and Africa.

Mr. Patrick emphasized that "I welcome the chance to participate in the design and growth of a junior mining company with Golden Phoenix's breath of opportunity. From the remarkable molybdenum of Ashdown, to the gold and silver of Mineral Ridge, and other opportunities, my ability to help our team bring this value to market is what truly excites me. Since the majority of my background is with large mining companies, I hope to contribute those specific operational skills that can accelerate the development of this young enterprise to its fullest potential."

Mr. Patrick received his B.S in Business Administration and Economics from the University of Arizona, and earned a Masters of Business Administration from the University of Phoenix. He is a recipient of the Chairman's International Safety Award for outstanding safety record at the Cerro Verde operation in Peru, the Sentinels of Safety Award for outstanding safety record at the Sierrita Operation, and a two-time winner of the Soaring Eagle Award for Outstanding Performance in Safety & Human Resources at Cyprus Mining Corporation.

Please visit the Golden Phoenix website 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.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements by David A. Caldwell, CEO, and other statements regarding the expansion of production at the Ashdown Mine, optimism related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many factors including continued market prices for the Company's mineral products. In addition, actual results could vary materially based on changes or slower growth in the molybdenum and gold markets; the potential inability to realize expected benefits and synergies in the Company's mining operations; domestic and international business and economic conditions; changes in the mining industry for base and precious minerals, especially molybdenum; unexpected difficulties in expanding production at the Company's mines; changes in customer demand or ordering patterns for molybdenum; changes in the competitive environment including pricing pressures or technological changes; technological advances; shortages of skilled miners; the need for additional capital and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

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

Golden Phoenix Minerals, Inc.

CONTACT: Robert Martin, President of 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.

Web site: http://www.golden-phoenix.com/

Source: PRNewswire-FirstCall

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