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Gold/Mining/Energy : GOLDEN PHOENIX MINERALS, GPXM

GPXM 0.000001000

-99.0%

May 28 1:24 PM EST

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To: Robert J Mullenbach who wrote (305)	2/8/2002 1:39:00 AM
From: Vince Moretto	of 811

According to the website.....Proven ....drill indicated reserves for Borealis are in the area of 1.5 million ounces....Mineral Ridge proven reserves are in the area of 500,000 ounces with Potential targets estimated at 3-4.5 million ounces. Both of these properties have a proven track record, having been worked in the past......they pulled about 600,000 ounces out of borealis in the 80's......Mineral Ridge history goes back to prior to the turn of the century. Then there is the copper property in northern Nevada....some 700 million pounds of it. What is so intriguing is the fact that they are actually recovering gold while waiting for the environmental bond to be posted...hopefully in the next few days...and there is two years worth of ore just sitting on the pad... Also, they are estimating a production cost of $158/ounce due to industrial mineral credits contained in the source rock....Alaskite?

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