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GPXM.ob 0.20 Golden Phoenix Mineral's Ashdown Project LLC Generated $10.4 Million in Moly Sales in 2007; First Quarter Sales Continue Strong
Tuesday April 15, 5:00 am ET

SPARKS, Nev., April 15 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) reports that the Ashdown Project LLC generated approximately $10.4 million in gross income from sales of molybdenum (MoS2) concentrates in 2007. By comparison, sales in 2006 totaled $176,777. Golden Phoenix owns 60 percent of the Ashdown Project LLC.

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In 2007, 732,627 pounds of concentrates were produced and shipped at an average sale price of $31.30 per pound of contained Mo. During the fourth quarter of 2007, six shipments of moly concentrates were produced, averaging 44,600 pounds per shipment at a grade of approximately 53% Mo. In that same period, recoveries in the mill averaged approximately 92%.

The rate of production established in the fourth quarter of 2007 continued into 2008, with seven shipments being completed between January 1, 2008 and the present. One of those shipments was processed in nine days, the fastest production rate to date, at an average recovery exceeding 95% for an estimated market value of approximately $660,000.

David A. Caldwell, CEO of Golden Phoenix, commented on the first anniversary of production at Ashdown, "A little over a year since we began to ship product, I am very pleased to report the mill is achieving recoveries routinely exceeding 90%, with moly values well above 50% and copper contamination below half a percent. This means that we are generating a quality concentrate at a time when the industry-at-large is struggling to reach, much less exceed, minimum specifications. This is a credit to our unique ore body as well as the persistent efforts of our technical staff both underground and at the mill. Our focus in the coming months will be completion of the development work needed to raise ore production from the current 60-to-70 tons per day to the 100 tpd design capacity of the mill."

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 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.