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Golden Phoenix Receives Permits From Humboldt County to Build a Molybdenum Mill for Its Ashdown Mine
SPARKS, Nev., May 18, 2005 /PRNewswire-FirstCall via COMTEX/ --
Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM), announced today it has received approvals from the Humboldt County Commissioners and Planning Commission to operate the Ashdown Moly Mine and Mill Project, located near Denio, Nevada. Building permits have been issued to Golden Phoenix by the Humboldt County Building Department to erect the structure that will house the mill machinery. Concurrently, the Nevada Division of Environmental Protection has issued written approval authorizing the mill machinery to be moved from its staging area onto the mill site.

With receipt of these permits, Golden Phoenix starts construction of a 100-ton-per-day flotation mill to process molybdenite ore from the Ashdown mine, beginning with a targeted section of the Sylvia vein, which is detailed in the Golden Phoenix press release dated March 8, 2005. As soon as cash flow from the sale of molybdenum concentrates is established, Golden Phoenix will initiate an exploratory program to locate and define both existing and future moly targets, as well as prospective gold mineralization, using underground and surface step-out drilling.

Golden Phoenix is earning a 60% interest in the Ashdown Joint Venture with Win-Eldrich Mines, Ltd. (TSXV: WEX), and serves as manager and operator of the property.

Golden Phoenix Minerals, Inc. is committed to deliver value to its shareholders by acquiring, developing and mining superior precious and strategic metal deposits in the western United States using competitive business practices balanced by principles of ethical stewardship.

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, Director of Corporate Development, 775/853-4919

E & E Communications
Paul Knopick
949/707-5365

[e-mail]

SOURCE Golden Phoenix Minerals, Inc.

Robert Martin, Director of Corporate Development of Golden Phoenix Minerals, Inc.,
[phone]; or Paul Knopick of E & E Communications, [phone],

[e-mail]
, for Golden Phoenix Minerals, Inc.

http://www.prnewswire.com


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