GOLDEN PHOENIX ACTIVATES ITS TOP LEADERSHIP: PRAHL MADE
COO; MARTIN NAMED PRESIDENT; CALDWELL REPLACES RIPLEY
AS CEO
-- PRODUCT SALES AT WORLD’S NEWEST MOLY MINE TRIGGER ACTION
PLAN --
SPARKS, NV, Feb 5, 2007 - Golden Phoenix Minerals, Inc. (OTC Bulletin
Board: GPXM - News) is pleased to announce its next stage of
development with the appointment of Donald R. Prahl to Chief Operating
Officer, Robert P. Martin to President and David A. Caldwell to Chief
Executive Officer. Kenneth S. Ripley steps down as CEO following
successful completion of a 24-month turnaround that makes Golden
Phoenix the world’s newest primary molybdenum producer following the
start of sales at its Ashdown mine, located in Humboldt County, Nevada.
The promotions were triggered by last week’s sale and shipment of
approximately half-a-million dollars worth of molybdenum concentrate by
the Ashdown Project LLC. Golden Phoenix is the majority owner, manager
and operator of the Ashdown mine and mill.
Donald Prahl, former Vice President and General Manager for the Barrick
Goldstrike Mine in Nevada and the Cyprus-Amax Sierrita copper and
molybdenum mine in Arizona, will continue to guide the ramp-up of moly
production and sales at Ashdown. David Caldwell and Robert Martin,
former President and Executive Vice President respectively, now join CFO
Dennis Gauger in taking on the Company’s key strategic and
administrative duties beginning with a value-building program designed to
increase Company name recognition and financial opportunities. Kenneth
Ripley, who led Golden Phoenix through a two-year campaign to build the
Ashdown mine and start production, will return to the Seattle area to
resume daily management of his commercial real estate holdings. He
remains an active shareholder.
Addressing the new appointments, David Caldwell said, “When Ken Ripley
was asked to lead our recovery back in January of 2005, the Board of
Directors had no idea how fully he would commit himself personally,
professionally and financially. As a result of his extraordinary efforts,
Golden Phoenix is now a leaner, smarter, stronger company, with
declining debt and rising cash flow. We are deeply grateful to Ken for
delivering a working mine to a revitalized enterprise; it is our job to build
on that foundation.”
Don Prahl added, “Insofar as my career has focused on optimizing
profitability at large-scale gold, moly and copper mines, I intend to build
Golden Phoenix and its resource portfolio into something we can all be
proud of. With Ashdown now projected to cash flow and self-fund, my
first task is to see that it has the people and equipment needed to reach
full-scale production as soon as practical. I have also started work on the
feasibility studies needed to bring our Mineral Ridge gold and silver
property back on line. I am totally committed to establishing exceptional
mining opportunities for the benefit of every one of our shareholders.”
Robert Martin concluded, “Dave, Don and I have forged a bond in the
course of building a new future for Golden Phoenix. My business drive
coupled with Don’s deep industry knowledge fit well with Dave’s
exploration skills and public company experience. Add in Dennis Gauger’s
corporate governance and compliance background, and I believe we have
a balanced team that hears our stockholders loud and clear: Grow share
value, ramp-up moly sales, stoke-up reserve capital, reopen Mineral
Ridge, and expand reserves through exploration at Ashdown, Mineral
Ridge and Northern Champion.”
Golden Phoenix Minerals, Inc. is a Nevada-based mining company
committed to deliver value to its shareholders by acquiring, developing
and mining superior precious and strategic metal deposits in North
America using competitive business practices balanced by principles of
ethical stewardship. Golden Phoenix owns the Mineral Ridge gold and
silver property near Silver Peak, Nevada, the Northern Champion
molybdenum mine in Ontario, Canada, and is manager/operator and
majority owner of the Ashdown Project LLC gold and molybdenum
property held jointly by Golden Phoenix Minerals, Inc. and Win-Eldrich
Mines, Ltd. of Toronto, Canada through its US subsidiary, Win-Eldrich
Gold, Inc.
Visit the Golden Phoenix Web site at golden-phoenix.com
Forward-Looking Statements. Certain statements included herein may contain forward-looking information within the meaning of
Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe
harbor created by those rules. All statements, other than statements of fact, including, without limitation, statements regarding
potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially
from those anticipated in such statements. The Company's actual results could differ materially from those anticipated in such
forward-looking statements as a result of a number of factors. These risks and uncertainties, and certain other related factors,
are discussed in the Company's Form 10-KSB, Form 10-QSB and other filings with the Securities and Exchange Commission.
These forward-looking statements are made as of this date and the Company assumes no obligation to update such forwardlooking
statements as a result of a number of factors.
CONTACT:
Golden Phoenix Minerals, Inc.
Robert Martin
President
775/853-4919
E & E Communications
Paul Knopick
949/707-5365
pknopick@eandecommunications.com
Source: Golden Phoenix Minerals, Inc. |
