Golden Phoenix Minerals sell Mister_x

GOLDEN PHOENIX MINERALS

Da sehen wir leider keine Zukunft! - rein Charttechnisch wohl eher eine Niete. Sell

Geldkurs   -  021                       Briefkurs  - .061
Geldkurs  -  .02                          Briefkurs    -.06 

Geldkurs    - 026                        Briefkurs    .046 

Geldkurs     -.016                        Briefkurs     .056 

Golden Phoenix Minerals Reports Scorpio Gold's Surface RC Drilling Findings at
Mineral Ridge Gold Deposit
- 45 FEET GRADING 0.352 OZ PER TON GOLD REPORTED IN SURFACE PIT AREA -

SPARKS, Nev., Oct. 21 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc.
(OTC Bulletin Board: GPXM) is pleased to report initial drill results from
Scorpio Gold Corporation's reverse circulation (RC) drilling in the pit areas
of the Mineral Ridge gold deposit, located near Silver Peak, Nevada.
Additional results of RC and diamond drilling will be reported on a timely
basis once received and compiled.

Peter J. Hawley, CEO of Scorpio Gold, reports; "We are very pleased with the
initial assay results from our re-confirmation drilling, which to date are
presenting higher grades than the average historical mined grade of 0.056
ounces per ton (OPT). The Company believes that the lower historical grade was
a result of excessive dilution by the previous operators. The initial higher
grades bode well for enhancing the economics of this project, especially in
light of the recent strength in the gold price, currently in excess of US
$1,000 per ounce, and the Company's recent purchase of the underlying 8% net
smelter royalty."

The Mineral Ridge project is located ~30 miles west of Tonopah, Nevada and has
historically produced almost 575,000 ounces of gold, including ~170,000 ounces
from open pit and ~405,000 ounces from underground mining operations. The
property is currently bonded and permitted for heap leach gold processing and
production, and was in production as recently as 2005. The mine project
comprises 54 patented and 279 unpatented mining claims covering 5,921 acres,
and hosts multiple gold bearing structures, veins and bodies. It features a
well-developed infrastructure including roadways, power grid, heap leach pad,
crushing circuit, ADR plant, water supply, maintenance shop, refueling and
storage facilities and administrative buildings.

Drill Program

A total of 8,911 feet consisting of 2,026 feet of core diamond drilling and
6,885 feet of RC drilling was completed on the Mineral Ridge pit areas in
summer 2009. Systematic drill spacing was employed from the near pit floor
mineralization toward the down strike/dip mineralized extensions. The drill
program was designed to reconfirm previously reported mineralization and build
a database in compliance with NI 43-101 standards for resource estimation. In
addition, the program has delineated sterile areas where pit waste material
can be placed.

Drinkwater Deposit Overview

The Drinkwater Deposit is the largest known mineral deposit and is located on
the northeastern side of the metamorphic and intrusive core complex. It was
partially mined by underground methods from the 1860s to the early 1940s and
by open pit methods from 1989 to 2005. The mineralized zones in the Drinkwater
deposit have a general strike of N45W and dip ~20-25 degrees to the northeast.
Drill-defined mineralized zones have a strike length of 2,500 feet, down dip
extension of over 2,000 feet, two or more gold bearing shear zones with an
individual thickness of 5 to 40 feet and an overall thickness of more than 100
feet. Reverse circulation ("RC") drill holes reported in Table 1 were designed
to target the main mineralized pit area to re-confirm previous drilling and
resource estimates:

    Table 1.  Drinkwater Deposit - Mineralized Pit area

    Drill Hole       Target         From        To       Width       Gold
       No.                          (ft)       (ft)       (ft)       (OPT)
       ---           ------         ----       ----       ----       -----
    MR-09-006     Drinkwater Pit       0       50.0       50.0       0.078
    ---------     --------------     ---       ----       ----       -----

    MR-09-16      Drinkwater Pit    20.0       40.0       20.0       0.087
    --------      --------------    ----       ----       ----       -----

    MR-09-13      Drinkwater Pit    25.0       65.0       40.0       0.117
    --------      --------------    ----       ----       ----       -----

    MR-09-14      Drinkwater Pit    25.0       70.0       45.0       0.352
    --------      --------------    ----       ----       ----       -----

    MR-09-001     Drinkwater Pit    35.0      120.0       85.0       0.155
    ---------     --------------    ----      -----       ----       -----
                                   150.0      165.0       15.0       0.024
                                   -----      -----       ----       -----

    MR-09-002     Drinkwater Pit       0       10.0       10.0       0.019
    ---------     --------------     ---       ----       ----       -----
                                    35.0      100.0       65.0       0.219
                                    ----      -----       ----       -----
                                   115.0      165.0       50.0       0.070
                                   -----      -----       ----       -----

Reverse circulation ("RC") drill holes reported in Table 2 were designed to
target low grade and sterile areas in the pit area to determine new, tighter
pit design shells:

    Table 2.  Drinkwater Deposit - Low Grade or Sterile Pit Area

    Drill Hole       Target         From        To         Width     Gold
        No.                         (ft)       (ft)        (ft)      (OPT)
        ---          ------         ----       ----        ----      -----
    MR-09-003     Drinkwater Pit   140.0      145.0        5.0       0.015
    ---------     --------------   -----      -----        ---       -----

                  Edge of Pit      155.0      180.0       25.0       0.020
                  -----------      -----      -----       ----       -----
                                   205.0      215.0       10.0       0.042
                                   -----      -----       ----       -----
                                   245.0      255.0       10.0       0.054
                                   -----      -----       ----       -----

    MR-09-004     Drinkwater Pit             No Values Reported
    ---------     --------------             ------------------

    MR-09-005     Drinkwater Pit       0       20.0       20.0       0.014
    ---------     --------------     ---       ----       ----       -----

    MR-09-007     Drinkwater Pit       0       15.0       15.0       0.037
    ---------     --------------     ---       ----       ----       -----
                                    40.0       50.0       10.0       0.013
                                    ----       ----       ----       -----
                                    65.0       70.0        5.0       0.018
                                    ----       ----        ---       -----

    MR-09-008     Drinkwater Pit    15.0       30.0       15.0       0.045
    ---------     --------------    ----       ----       ----       -----
                                    70.0       90.0       20.0       0.037
                                    ----       ----       ----       -----

    MR-09-009     Drinkwater Pit    30.0       40.0       10.0       0.021
    ---------     --------------    ----       ----       ----       -----
                                    50.0       55.0        5.0       0.054
                                    ----       ----        ---       -----
                                   135.0      150.0       15.0       0.042
                                   -----      -----       ----       -----

    MR-09-010     Drinkwater Pit       0        5.0        5.0       0.015
    ---------     --------------     ---        ---        ---       -----
                                    55.0       60.0        5.0       0.088
                                    ----       ----        ---       -----
                                   165.0      200.0       35.0       0.026
                                   -----      -----       ----       -----

    MR-09-011     Drinkwater Pit    35.0       40.0        5.0       0.022
    ---------     --------------    ----       ----        ---       -----
                                    55.0      140.0         85       0.037
                                    ----      -----         --       -----

    MR-09-012     Drinkwater Pit   125.0      155.0       30.0       0.041
    ---------     --------------   -----      -----       ----       -----

    MR-09-015     Drinkwater Pit      50         55        5.0       0.017
    ---------     --------------     ---        ---        ---       -----
                                     175        190       15.0       0.093
                                     ---        ---       ----       -----
                                     195        210       15.0       0.026
                                     ---        ---       ----       -----

Mary Deposit Overview

The Mary deposit is the southeast continuation of the Drinkwater, with the
connection eroded away by Elizabeth Canyon. The drill-defined mineralized
zones have a strike length of 2,000 feet, down dip extension of over 1,500
feet, with mineralized zones generally thinner and less continuous but higher
in grade than those in Drinkwater.

Reverse circulation ("RC") drill holes reported in Table 3 were designed to
target the main mineralized pit area to re-confirm previous drilling and
mineralized estimates:

    Table 3.  Mary Deposit - Mineralized Pit area

    Drill Hole     Target            From       To       Width       Gold
        No.                          (ft)      (ft)       (ft)       (OPT)
    ----------     ------            ----      ----       ----       -----

    Mr-09-17      Mary Pit             0       55.0       55.0       0.193
    --------      --------           ---       ----       ----       -----

For additional information on the Mineral Ridge project, please see the
Company's website at www.scorpiogold.com.

All RC holes presented in the above tables were drilled at 90 degrees vertical
dip; true width is estimated at ~95% down hole width. Analytical results were
performed by American Assay Laboratory Inc. in Sparks, Nevada. All samples
were submitted as bulk RC drill samples and standard preparation procedures
were utilized to create a homogeneous sample. Samples were fire assayed with
an AA finish at one assay ton (30 grams). Results of 0.29 opt (10 ppm) and
greater were repeated with a gravimetric (weighed) finish. Standard Quality
control procedures were followed which included random insertion of certified
standards and blanks in the sample stream as well as routine duplicate sample
analysis. American Assay Laboratories Inc. is an ISO/IEC 17025 accredited
assay laboratory.

CEO, Mr. Peter J. Hawley, PGeo, is the Scorpio Gold's Qualified Person for the
various Scorpio Gold projects. Mr. Hawley is responsible for the current
exploration and development program at Mineral Ridge and has reviewed the
content of this release. All reported findings, including references to new
claims, fall within the area of interest defined within the joint venture
agreement currently in negotiations between Golden Phoenix Minerals and
Scorpio Gold. Scorpio Gold reports its results under Canadian mining and TSX
Venture guidelines, which report mineral reserve and resource estimates
differently than in the U.S., and may not meet the standards of "proven" and
"probable" reserves set forth in SEC Industry Guide 7.  Golden Phoenix
Minerals intends to conduct further exploration on the property in the future
in an effort to convert mineralized material into mineral reserves, in
accordance with SEC Industry Guide 7 standards and definitions.

For more information on Golden Phoenix Minerals, please visit their corporate
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 and the Northern Champion molybdenum mine in Ontario, Canada.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The statements by officers of the Company, and other statements
regarding 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 P. Martin, President (775) 853-4919
    [email protected]