Golden Phoenix Q2 2011 Shareholder Conference Call to Discuss Start of Gold Production at Mineral Ridge Gold Project

SPARKS, NV -- (Marketwire) -- 06/27/11 -- Golden Phoenix Minerals, Inc. (the 'Company') (OTCBB: GPXM) is pleased to announce its second quarter 2011 shareholder conference call is scheduled for Tuesday, July 12, 2011. Shareholders are invited to participate in the call which is scheduled to begin at 1:00 P.M. Pacific/4:00 P.M. Eastern Time.

Company management will be available during the call to provide updates on Q2 2011 accomplishments and how the Company's growth strategy is expected to unfold in the second half of 2011.

Topics to be presented include a major update on the start of gold production at Mineral Ridge, developments on the Vanderbilt Silver and Coyote Fault Gold projects, updates on Shining Tree and Peru, drilling plans for 2011 plus individual shareholder questions.

'13 months after closing the joint venture between Golden Phoenix and Scorpio Gold, the Mineral Ridge property has entered gold production,' stated Tom Klein, CEO of Golden Phoenix. 'Last week, both companies completed joint tours of Mineral Ridge. We look forward to providing a complete update on our conference call.'

You can join the call by phone, webcast or Skype. To participate in the conference call, dial 952-356-0015 and enter Conference ID 419582#. The backup telephone number is 270-506-5060. To attend by webcast, please visit the Golden Phoenix homepage (GoldenPhoenix.us) for a link to the live webcast. To attend by Skype, call in from your Skype account to 'joinconference' and use your Skype keypad to enter the Conference ID 419582#. The conference call will begin at 1:00 P.M. Pacific Time (4:00 P.M. Eastern Time) on Tuesday, July 12, 2011. The call-in line can accommodate 250 participants. The webcast can accommodate 2000 participants. Questions should be submitted at least three days in advance via email to: investor@goldenphoenix.us. The Company reserves the right to select questions to discuss.

Please visit the Golden Phoenix website at: www.goldenphoenix.us.


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.


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:

Golden Phoenix Minerals, Inc.
Robert Ian, Director of Corporate Communications
(775) 453-4741
investor@goldenphoenix.us