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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 (329)2/15/2002 6:31:23 PM
From: Robert J Mullenbach  Read Replies (1) of 811
 
$$NEWS$$Golden Phoenix Minerals Rescinds Borealis Agreement

RENO, Nev., Feb. 15 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - news) announced today that it has rescinded the letter agreement with Seabridge Resources, Inc. to sell its Borealis gold project due to issues that arose during due diligence.

Golden Phoenix Minerals Inc. is a mineral-property development company headquartered in Reno, Nevada. It specializes in acquiring and consolidating large, advanced-stage properties with potential for near-term production and good resource development potential. Acquisition and development emphasis is on deposits containing gold, silver, copper and other strategic minerals that are located in Nevada.

Visit the Golden Phoenix Web site at golden-phoenix.com

Contact Michael Fitzsimonds, President, at 775-853-4919

* (The statements in this news release that are not historical facts or statements of current status are forward-looking statements [as defined in the Private Securities Litigation Reform Act of 1995] that involve risk and uncertainties. Actual results may differ widely.)

SOURCE: Golden Phoenix Minerals, Inc.

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