Letter to the Shareholders

SPARKS, Nev., Oct. 22 /PRNewswire-FirstCall/ -- Dear Fellow Shareholders:Last November I addressed you in a letter written during the height of the global credit contraction. At that time I wrote the following:With this sudden shift [the credit crisis] has come the realization that of all the metals, base and noble, gold is hanging tough and showing the possibility of reviving first. General interest in our Mineral Ridge gold mine is on the rise, and we are fortunate to have this permitted and bonded asset in our portfolio. While cash remains precious, we were able to complete the first phase of our drilling program at Mineral Ridge before stopping in advance of winter. There are still hundreds of samples awaiting assay, but for now, management is focused on conserving cash through the reduction of our work force and elimination of non-essential spending.I am pleased to report that Golden Phoenix has weathered this past 12 months, and accomplished a number of key objectives outlined in the above paragraph. The highlights include the following:First, we have consummated the sale of our Ashdown mining interest to our former partner, Win-Eldrich, and are due to begin receiving payments on the $5.3 million sale this coming April. We are informed that Ashdown is in production, the price of a pound of molybdenum sulfide has rebounded to the mid-teens, and we look forward to a steady income stream from that arrangement for many years to come.Secondly, we implemented operational changes within our company, streamlining, cutting back and reducing costs, and finding ways to do business more efficiently. Golden Phoenix is "lean and mean" again, and we intend to stay that way.Thirdly, our pending joint venture with Scorpio Gold continues to advance. With the recent news that the Mary Mining Trust has agreed to sell ...
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Golden Phoenix Minerals Reports Scorpio Gold Has Agreed to Purchase Mineral Ridge Royalty

SPARKS, Nev., Oct. 12 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to announce that Scorpio Gold Corporation (TSX-V: SGN - News) has entered into a binding agreement to purchase the current 8 percent net smelter royalty (NSR) which applies to 48 unpatented claims on the Mineral Ridge, Nevada property from the royalty owner, Mary Mining Trust, for US$3,000,000. Subject to regulatory approval and concurrent with acquisition of a joint venture interest in the Mineral Ridge property from Golden Phoenix Minerals, Scorpio Gold will pay US$3,000,000 in cash at the closing to acquire the royalty. Robert Martin, President of Golden Phoenix, commented on this development, observing, "I consider the acquisition and subsequent extinguishment of the existing royalty a key factor in the on-going process of finalizing a joint venture agreement between Golden Phoenix and Scorpio Gold that can lead to the restart of gold mining activities at this historic Nevada property. In addition to the mine's advance state of development and the strengthening price of gold, this bold action will, in my opinion, contribute substantially to the joint venture's financial viability...
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GOLDEN PHOENIX MINERALS INC Financials

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GOLDEN PHOENIX MINERALS INC Files SEC form 8-K, Unregistered Sale of Equity Securities

Show all filings for GOLDEN PHOENIX MINERALS INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for GOLDEN PHOENIX MINERALS INC 5-Aug-2009Unregistered Sale of Equity Securities Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for information...
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GOLDEN PHOENIX MINERALS INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Termination of a Material

Show all filings for GOLDEN PHOENIX MINERALS INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for GOLDEN PHOENIX MINERALS INC 31-Jul-2009Entry into a Material Definitive Agreement, Termination of a Material Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). A...
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GOLDEN PHOENIX MINERALS INC Files SEC form 8-K, Change in Directors or Principal Officers, Regulation FD Disclosure,

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On June 27, 2009, Golden Phoenix Minerals, Inc., a Nevada corporation (the "Company") appointed Clyde Harrison to the Company's Board of Directors effectively immediately. With Mr. Harrison's appointment, the Company's Board of Directors now consists of six members. It is contemplated that Mr. Harrison may serve on certain committees of the Company's Board of Directors, but no such committee appointments have been made at this time. Mr. Harrison resides in Cary, Illinois and has no family relationships with any of the Company's directors, executive officers, director nominees or significant employees. Furthermore, the Company is not aware of any transaction requiring disclosure under Item 404(a) of Regulation S-K. Mr. Harrison's Professional History Most recently, Mr. Harrison was the Founding Member of Beeland Management Company, LLC. During his 5-year tenure as its CEO, Mr. Harrison managed the Rogers Raw Materials Index Funds, which gained 150% while the benchmark S&P index gained 1%. From 2004 until 2007, Mr. Harrison was a member of the board of directors of Geocom Resources, Inc., an early exploration stage mineral resource company. Mr. Harrison has served as a pension fund consultant and has extensive experience as a derivative trader. Mr. Harrison began his career in 1968 in finance with Lamson Brothers. In 1974 he became General Partner with Carl Icahn, managing hedge positions for corporate takeovers. Mr. Harrison later served as a consultant to Commerz Bank, creating the risk control system employed to relocate their futures headquarters from Europe to Chicago. Mr. Harrison has also served as General Partner for a number of private investment and trading funds. Mr. Harrison is a former member of the Managed Futures Committee of the Chicago Mercantile Exchange. He has consulted ...
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GOLDEN PHOENIX MINERALS INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements and

Item 1.01 Entry into a Material Definitive Agreement. On May 18, 2009, Golden Phoenix Minerals, Inc. (the "Company") entered into a Supplemental Compensation Agreement (the "Agreement") with Robert P. Martin, whereby Mr. Martin is to provide specific services to the Company in his role as an executive officer of the Company, in connection with and in support of the Company's continued financing and debt conversion efforts. Mr. Martin is the President of the Company. As compensation for his services, Mr. Martin will receive 1,500,000 shares of Company common stock valued at a 50% discount to the trailing twenty day Company common stock average price from the date of Board approval of such compensation package, totaling $11,835 ("Initial Compensation"). Such Initial Compensation shall serve to offset the expenses incurred by Mr. Martin in his attempt to help secure the Company future financing. Pursuant to the Agreement, Mr. Martin will be obligated to incur expenses or purchase Company debt up to the full value of the Initial Compensation. In addition, Mr. Martin will be eligible to receive 1,500,000 warrants to purchase Company common stock upon the acquisition of $200,000 in financing for the Company or in connection with a property transaction related to the Mineral Ridge mining property, or the retirement of up to $500,000 of the Company's existing debt, that are a result of Mr. Martin's efforts ("Subsequent Compensation"). Pursuant to the Agreement, the warrants associated with the Subsequent Compensation will vest pro-rata as efforts are made to secure the $200,000 financing, the property transaction or $500,000 debt reduction, respectively, and will have an exercise price of $0.0079. Furthermore, for all financing obtained by Mr. Martin's efforts resulting in the Company receiving at least $200,000, the completion of a property transaction or resulting in the retirement of the Company's existing debt in excess of $500,000, Mr. Martin...
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