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Golden Phoenix Alert
Las Vegas, NV, January 5, 2012
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Golden Phoenix Joint Venture Partner Scorpio Gold Intersects 10.67 Meters Grading
3.65 g/t Gold on Mary Zone, Mineral Ridge Project
LAS VEGAS, NV, JANUARY 05, 2012 - Golden Phoenix Minerals, Inc. ("Golden Phoenix")
(OTC Bulletin Board: GPXM) joint venture partner Scorpio Gold announces the intersection
of 10.67 meters grading 3.65 g/t gold on the Mary 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, "In November 2011,
Scorpio commenced pre-stripping of the Mary Zone in preparation for commencing open
pit mining. The Mary Zone is located immediately southwest of the Drinkwater Pit
 where mining is currently in progress. A 58-hole drill program to define the extent
of mineralization for final pit design is underway. Results to date have increased
the width of the Mary Zone and also confirm that gold mineralization extends southwest
from the Mary Zone to the adjacent Mary LC Zone, encompassing a strike length of
 780 meters. Mining of the Mary Zone is expected to commence later in January 2012,
adding to current production from the Drinkwater Pit and increasing the overall
production at Mineral Ridge."
A longitudinal section of current mining and exploration in the Drinkwater Pit and
Mary Zone is available at: http://www.scorpiogold.com/i/maps/mr/DW-Mary_LS.jpg [http://r20.rs6.net/tn.jsp?llr=xixgyxdab&et=1109047182895&s=380&e=001sj94neESXcx1QJEPTSJ86VGw3lzylaeOfvT9PrjPjRTgYdaYmZ5NODOrflCF123agFId1h9yRyMRiTCkBFcGwsOhwWE9x4FQ3HkmFgaW1wc-TXik1GACfZ733Jms2n9gZ0i_kaFarjVH1gtmPyEYS8874-BN0P32]
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. 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: View PDF: http://www.scorpiogold.com/i/pdf/reports/QAQC-MR.pdf
[http://r20.rs6.net/tn.jsp?llr=xixgyxdab&et=1109047182895&s=380&e=001sj94neESXcz5nACd-zSAg7anU5MqQ7uHfxy-9a-sl64Jv1E8LezWDXHNxoyV4bEpc4m48jNzIhwQGIe2udu4FRKUcy_MQyXjlfXVvKrralki4CtGDXYl3HU6hsvXyZqFf_hmL3uSMT2oh78TJZi-hZyaja9LsB6Z].
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 website at: www.goldenphoenix.us [http://r20.rs6.net/tn.jsp?llr=xixgyxdab&et=1109047182895&s=380&e=001sj94neESXcyUNnsw6nsXZHWTDyyB9Z_u3xCm-HKBFBM27FIeDyEZqR_Zv8EQxDzYW79L69DyRCS8KLpKNqDmAS3WMTY7xwoMmIqQ7_y3ur7fE9--55azGQ==].
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. Golden
Phoenix is currently earning into a 60% interest (and potentially 80% interest upon
meeting certain milestones and payments) in the Santa Rosa gold mine in Panama.
Currently, Golden Phoenix owns a 15% interest in Golden Phoenix Panama, S.A., the
joint venture entity that owns and operates the Concessions constituting the Santa
Rosa gold mine.
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.
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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