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From: PayShhhhence	9/4/2007 11:39:39 PM
	of 3267

By: birdwatcher30 04 Sep 2007, 10:39 PM EDT Msg. 52097 of 52100 ragingbull.quote.com MINE VISIT Sorry to take so long to post this but here is what I learned on my visit to Ashdown and the GPXM office... I recently returned from a trip to Nevada to visit the Golden Phoenix Minerals corporate office as well as the Ashdown property. This visit proved to be very interesting and I left feeling very encouraged about the current condition of the company as well as its future potential. I began by stopping by the corporate office in Sparks, Nevada where I was able to talk to several people who were working there. I really felt a sense of optimism and a positive attitude around the office as well as in the people I talked to. I was able to talk to one of the geologists and also a geochemist who work for GPXM and was very impressed with both of their knowledge of the mining industry and the properties held by GPXM. They were both very excited about the potential for Ashdown as well as Mineral Ridge and expect to develop both of these into very profitable and efficient mines. What they told me is that the potential for Ashdown is huge as most of the property remains unexplored and most of the exploration done in the past was only for gold so there is much to be learned about the moly deposit. So far, what they have found in the small area where mining activities are presently focused is just a small piece of the property and this deposit is most likely much larger than what we know right now. They explained that a deposit containing this high of grade is not normally isolated and is most likely a part of a larger system which could massive. More of the gaps in their information will be explained by further drilling on the property, specifically focused on moly. This is planned for the future but it takes time to get good drilling equipment and crews. The company also feels there is great value in Mineral Ridge and it sounds like this will be their next focus for development into a producing property. This property already has a proved resource of 200,000 ounces of gold and most of this property is also unexplored so it can, and will, be drilled in the future. I believe they understand very well the mistakes of past operators with this property and should have no problem putting MR into profitable production on a fairly good sized scale. Mineral Ridge has several deposits which can be mined by open pit, underground or a combination of the two. This is all being looked at right now to determine the best plan. Several hours later I left the office and drove to Winnemucca in order to be closer to the mine for my visit the next day. I was amazed at the time I was able to spend talking to people at the company and their excellent attitude toward me as a shareholder. I can assure you that shareholders have not been forgotten by this company. The next morning I drove the Ashdown mine and mill where I was met by the mill manager. The first thing I did was take a look at the tailings pond by climbing up the ore stockpile in order to get a better view. This pile was very good sized and I was able to pull a few small samples of very high grade moly from this pile, and trust me there was no shortage of good high grade moly ore sitting around. Next I was given a tour of the mill equipment and the process that was used to extract the moly from the rock was explained to me as we walked along. This was extremely interesting and there was actually moly being milled and bagged on the day I was there, which was part of the reprocessing of the tailings that was being done while ore was being stockpiled. Everything seemed to be working very well and I believe they are getting pretty good at recovering moly. I was also able to meet Don Prahl who was kind enough to come over and meet with me. He was very enthusiastic about how the Ashdown project was coming together and the great future potential of this property. Next I drove up to the mine where I got to meet with Craig Patrick who talked to me about the amazing quality of the deposit at Ashdown as well as the great potential he and others had to build a great company at GPXM. He felt very strongly about the quality of the properties owned by Golden Phoenix and with the vast amount of experience he has in the mining industry he has seen a lot. Craig’s knowledge of mining and mining properties was amazing and he seemed to be very excited to be working for Golden Phoenix because of the great opportunity to build up a company. Unfortunately I was not able to go underground into the mine as they were busy that day. It was explained to me that daily production from the mine had increased significantly over the past few weeks and production should continue to increase in the future and full production should be achieved no problem. Things should really start moving faster this fall as most of the bugs have been worked out of the mining and milling process and more systematic processes are being put into place which will help to create a smooth and very profitable operation. As I left I was amazed at what has been accomplished thus far at Ashdown and how bright the future really is for Golden Phoenix. They have the right people and the right properties at the right time in the commodities cycle to really do great things over the next few years. I am so glad I took the time to visit the property and I am really excited about what is in store for shareholders in the future. For anyone who has been thinking about making a trip to see Ashdown for their self I would highly recommend it. When I returned home the price of the stock was getting killed but instead of being worried I just shook my head at the stupidity of the market. This company has not yet been taken seriously but soon it will be impossible to ignore the change that has gone on and will continue to go on. It really put my mind at ease that I had put my money in a quality company that will do very well in the future. So, for anyone attending the shareholders meeting and touring the Ashdown property you are in for a treat. There is nothing like going and seeing what you have your money in and getting that gut feel about what is there. For me it was very good and I am truly excited about this company and where it is headed.

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