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Gold/Mining/Energy : GOLDEN PHOENIX MINERALS, GPXM -- Ignore unavailable to you. Want to Upgrade?

To: pogbull who wrote (426)	7/6/2006 3:23:04 PM
From: pogbull	Read Replies (1) \| Respond to of 811

International Enexco Acquires a 100% Interest in Additional Nevada Mineral Claims Contiguous With Their Contact Resource Property biz.yahoo.com Thursday July 6, 9:00 am ET VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 6, 2006) - International Enexco Ltd. (TSX VENTURE:IEC - News; "Enexco" or the "Company") announced today that it has successfully reached agreement with Golden Phoenix Minerals Inc. ("Golden Phoenix") to acquire outright their "Red Metal" mineral claims located in Elko County, Nevada. The claims are contiguous with Enexco's 100% owned Contact Property. The newly acquired claims are expected to positively impact the previously announced copper/silver resource including previously reported cut-off grades (See IEC press release dated May 31, 2006). A National Instrument 43-101 report, including a mineral resource estimate, is currently being prepared for Enexco by Caracle Creek International Consulting Ltd. of Sudbury Ontario, Canada and will be amended to include all pertinent information on the Red Metal claims including prior successful drilling results. The Red Metal claims were the subject of surface sampling, mapping, geophysics and drilling by Golden Phoenix Minerals during a prior joint venture arrangement between Enexco and Golden Phoenix. As consideration for a 100% interest in the Red Metal claims the Company will issue to Golden Phoenix, 100,000 common shares and release Golden Phoenix of all claims by Enexco. Upon completion of the NI 43-101 report, Enexco will carry on advancing the Contact Property through additional drilling, including some confirmation drilling. Excellent potential exists to upgrade the resource categories and significantly expand tonnage along strike, down-dip, and between individual zones. The Contact property is approximately 230 miles (370 km) from the RTZ / Kennecott Copper Smelter in Salt Lake City Utah. The project has excellent infrastructure including road access, power and water.