Having trouble viewing this email?
Click here
http://campaign.r20.constantcontact.com/render?llr=xixgyxdab&v=001i_oc2EXSXOvaYYX1mqDw6sUOiYyYWLz-gaYLCU687vCNx3paHcNQWPw70JTerP7ceSr_auHnVzjQJGmezwk7RVRl_jdKUovc6VSd1n9zDJh3MOFQYSMKSiGs3DnsJaEWntVULc8IE3c%3D

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Golden Phoenix Alert
Sparks, NV, May 09, 2011
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Golden Phoenix Joint Venture Partner Scorpio Gold Awards Mining Contract for the
 Mineral Ridge Gold Deposit, Nevada

SPARKS, NV, MAY 09, 2011 - Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM)
joint venture partner Scorpio Gold announces that a mining contract has been signed
with Ledcor CMI Inc. ("Ledcor") for its Mineral Ridge Gold heap leach project. Ledcor
is currently providing contract mining services for both Barrick Gold Corporation
and Newmont Mining Corporation in Nevada.

Golden Phoenix currently maintains a thirty percent (30%) interest in the Mineral
Ridge Gold Project via its membership interest in Mineral Ridge Gold LLC; the joint
venture entity that owns and operates the Mineral Ridge property with Scorpio Gold.

"The Mineral Ridge project continues to advance with a growing team of experts,"
 stated Tom Klein, CEO of Golden Phoenix. "The recent addition of individuals and
firms whose experience includes work with Barrick, Newmont and Fronteer Gold is
creating a foundation for anticipated future growth."

The initial term of the contract extends to May 1, 2012 and is renewable annually
until the completion of the project. The current mine plan contains 3.2 million
tons of mineralized material to be mined plus waste rock extraction over a period
of 41 months. The mine plan will be updated on annual basis.

Ledcor will begin mobilization of equipment on May 9, 2011 with setup of site facilities
expected to be completed by June 3, 2011. Preparations for the start of mining are
to begin this week with the cleaning of loose material from previously mined safety
benches and extraction of mineralized material stock piles left behind by the previous
owner/operator.

Initial production is slated for approximately 14,000 total tons per day ramping
 up to full production schedule of approximately 20,000 tons per day.

Ledcor will be responsible for all aspects of drilling, blasting, loading and hauling
of material and Mineral Ridge Gold personnel will be responsible for pit and dump
layout, blast hole surveying and all aspects of grade control.

In addition, Scorpio Gold announces that on May 2, 2011, a second shipment of loaded
precious metal carbon was shipped from the Mineral Ridge facilities to Metals Research
in Kimberley, Idaho for processing.

Mr. Peter J. Hawley, PGeo, is Scorpio Gold's Qualified Person and CEO for the various
Scorpio Gold projects. Mr. Hawley is responsible for the current exploration and
 development program at Mineral Ridge.

Scorpio Gold reports its results under Canadian mining and TSX Venture Exchange
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.

Please visit the Golden Phoenix website at: www.golden-phoenix.com [http://r20.rs6.net/tn.jsp?llr=xixgyxdab&et=1105462141784&s=380&e=001i6aGwFmgFPx3-dAmYRam3doyE2TDCTZ_5OVC6yfsE40jVio2WGH73mfJhPB-P0BQFL42QTPWMAs1NuL4PhsCWEZUh0mayAqksDxL3-OexFuRq-wZoeywmg==].


About Golden Phoenix:  Golden Phoenix Minerals, Inc. is a Nevada-based mining company
whose focus is Royalty Mining in the Americas. Golden Phoenix is committed to delivering
shareholder value by identifying, acquiring, developing and joint venturing gold,
silver and strategic metal deposits throughout North, South and Central America.
 Golden Phoenix owns, has an interest in, or has entered into agreements with respect
to mineral properties located in the United States, Canada and Peru including its
30% interest in the Mineral Ridge gold project near Silver Peak, Nevada.
Source:
Golden Phoenix Minerals, Inc.
For More Information Contact:
Robert Ian, Director of Corporate Communications (775) 453-4741
robertian@golden-phoenix.com [mailto:robertian@golden-phoenix.com]
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Forward Looking Statements:  Information contained herein regarding optimism related
to the business, expanding exploration, development activities and other such statements
are "forward-looking statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and are subject to the safe harbors created thereby. While Golden
Phoenix believes such statements are reasonable, they are based on current expectations,
estimates and projections about the Company's business and 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, domestic and international business and economic conditions, and other
 risk factors listed in the Company's Securities and Exchange Commission (SEC) filings
under "risk factors" and elsewhere. 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.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Forward email
http://ui.constantcontact.com/sa/fwtf.jsp?llr=xixgyxdab&m=1103529991447&ea=.com&a=1105462141784


This email was sent to newsrelease@24hgold.com by robertian@golden-phoenix.com.

Update Profile/Email Address
http://visitor.constantcontact.com/do?p=oo&m=001QAFhVBhajmUGZsBvoq2Edw%3D%3D&se=001DmHrpaN2y-A%3D&t=001_7dBbj8fewzQOrHcF8_UkA%3D%3D&llr=xixgyxdab


Instant removal with SafeUnsubscribe(TM)
http://visitor.constantcontact.com/do?p=un&m=001QAFhVBhajmUGZsBvoq2Edw%3D%3D&se=001DmHrpaN2y-A%3D&t=001_7dBbj8fewzQOrHcF8_UkA%3D%3D&llr=xixgyxdab


Privacy Policy:
http://ui.constantcontact.com/roving/CCPrivacyPolicy.jsp


Online Marketing by
Constant Contact(R)
www.constantcontact.com


Golden Phoenix Minerals Inc. | 1675 E. Prater Way, Suite 102 | Sparks | NV | 89434
.