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Golden Phoenix Alert
Sparks, NV, October 19, 2011
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Golden Phoenix JV Partner Scorpio Gold Drills Brodie Zone and Intersects 12.91 g/t
Gold Over 3.05 Meters at Mineral Ridge Project
SPARKS, NV, OCTOBER 19, 2011 - Golden Phoenix Minerals, Inc. (the "Company") (OTC
Bulletin Board: GPXM) joint venture partner Scorpio Gold announces initial drill
results from the Brodie Zone at the Mineral Ridge Gold Project 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.
Peter J. Hawley, President and CEO of Scorpio Gold reports, "Our initial drilling
on the Brodie Zone, located 975 meters (3,200 feet) southwest of the Drinkwater
pit, has intersected mineralization of interest, in particular drill hole MR11210,
which terminated in high-grade mineralization. Additional drilling on the Brodie
Zone is planned following review and compilation of the latest results together
with historical drilling. Meanwhile, the drill has moved to the Wedge Zone for
initial drill testing in that area."
Table 1. Brodie Zone - Significant Drill Results
All holes presented in the above tables were completed by reverse circulation (RC)
drilling. True width is estimated at ~90% downhole width. Analytical results were
performed by American Assay Laboratory Inc. (AAL) in Sparks, Nevada, USA. AAL does
not have ISO/IEC 17025 accreditation but implements a quality management system
following ISO/IEC 17025 standards and maintains a paperwork trail for ISO/IEC 17025
accreditation. AAL participates in a number of testing and certification programs,
details of which are presented in Scorpio Gold's quality assurance and quality control
(QA/QC) program for the Mineral Ridge project at: http://www.scorpiogold.com/i/pdf/reports/QAQC-MR.pdf.
External check assays to verify lab accuracy are routinely completed by ALS Chemex,
an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited laboratory.
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. Investors should not infer from these assay
results that there exists sufficient amounts of precious metals in these areas to
support profitable mining operations now, or in the immediate future.
Please visit the Golden Phoenix web site: www.goldenphoenix.us [http://r20.rs6.net/tn.jsp?llr=xixgyxdab&et=1108209709329&s=380&e=001KwD_aUQTptbea2IwgufmwqBy1og83OZMWblasTg8wg6YtVKOlQnhmftgLS5RMxFez-aOy2rUY1MmwEC_HC5Q4-CyJ_fzeYezSKCRFsdj6xyqQCbStWMj2A==].
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, Panama and Peru including
its 30% interest in the Mineral Ridge gold project near Silver Peak, Nevada.
For More Information Contact:
Robert Ian, Director of Corporate Communications
(702) 983-0469
investor@goldenphoenix.us
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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.
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Golden Phoenix Minerals Inc. | 1675 E. Prater Way, Suite 102 | Sparks | NV | 89434
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Scorpio Gold Corp.
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DEVELOPMENT STAGE |
CODE : SGN.V |
ISIN : CA80918M1041 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Scorpio Gold is a gold exploration company based in Canada. Its main asset in development is MINERAL RIDGE MINE in USA and its main exploration properties are COCHRANE HILL, CARIBOU GOLD MINE, LAC ARSENAULT and MINERAL RIDGE in Canada. Scorpio Gold is listed in Canada. Its market capitalisation is CA$ 25.0 millions as of today (US$ 18.2 millions, € 17.0 millions). Its stock quote reached its highest recent level on March 12, 2010 at CA$ 1.12, and its lowest recent point on December 07, 2018 at CA$ 0.01. Scorpio Gold has 124 950 000 shares outstanding. |