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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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From: Vince Moretto	5/26/2007 2:04:42 PM
	of 811

Here's the plan. More specifically, we intend to use certain proceeds of this offering to accelerate the development and rate of production of the Ashdown Mine. We plan to initiate a third party scoping and feasibility study on the Company’s 100% owned Mineral Ridge mine in order to prove the economics and engineering design required to extract the precious metal resources on that property. Further, we intend to advance Northern Champion toward extraction and test milling and marketing of its molybdenum mineralization in preparation for an exploration program and full feasibility study. A portion of the funds is also planned to be used for general corporate purposes including the leveraged extinguishment of debt where deemed prudent by management

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