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

To: Sky High who wrote (81)	7/27/1998 1:24:00 PM
From: Sky High	Read Replies (1) \| Respond to of 811

More great results. Explains the rally I guess. Any idea how high this one will go? It would sure be nice to see $5.00 + again. Here's the latest news: Monday July 27, 9:00 am Eastern Time Company Press Release Golden Phoenix Minerals Announces High-Grade Results from Contact Copper Property RENO, Nev.--(BUSINESS WIRE)--July 27, 1998--Golden Phoenix Minerals, Inc. (OTC BB:GPXM - news) announces that it has received high-grade copper and silver results (as high as 8% copper and 3 ounces of silver) from two additional holes from the ongoing 17-hole (10,400 feet) drill program in the Banner Zone at Contact, Nev. The results from drill holes CRC-98-7 and CRC-98-4 strongly indicate the pervasive nature of the high-grade mineralization encountered by the Phelps Dodge drill hole PD-4 in the 1970s. PD-4 reportedly contained 40 feet with an average grade of 0.62 percent copper at 1430 feet; 22 feet with an average grade of 13.92 percent copper at 1842 feet; 106 feet with an average of 3.95 percent copper (includes 30 feet with an average of 13.6 percent copper) at 2070 feet; 60 feet with an average grade of 1.59 percent copper at 2230 feet. The Golden Phoenix Minerals vertical drill holes CRC-98-7 and CRC-98-4 results are as follows: DRILL HOLE FOOTAGE NUMBER OF FEET % COPPER SILVER (opt) CRC-98-7 0 - 20 20 0.21 65-75 10 0.17 300-325 25 0.29 5' with 3 ounces 385-405 20 0.62 475-530 55 1.18 5' with 3 ounces (Includes 5 8.62) CRC-98-4 115-175 60 0.15 240-340 100 0.72 5' with 1.6 ounces (Includes two separate intervals 5 4.0) 365-375 10 0.14 Golden Phoenix Minerals anticipates releasing additional drill results later this week. Based upon a 61 drill hole program conducted by Phelps Dodge and Coralta Mines in the 1970s, Golden Phoenix Minerals completed a manual resource evaluation on the Banner Zone which resulted in a combined resource of one billion pounds of copper with an average grade of 3.28 percent copper and 15 million ounces silver with an average grade of one ounce. Preliminary results of the current drilling program by Golden Phoenix Minerals have raised a portion of the combined resource from a drill-inferred to the drill-indicated category. The physical area of the resource has also been expanded as a result of this program. The Contact property is located in Elko County, Nev. in the Salmon River Mining District. The total Contact Project area consists of approximately 8,400 acres. Golden Phoenix Minerals, Inc. (GPXM) is an OTC Bulletin Board listed minerals exploration corporation dedicated to the discovery and development of precious and base metal deposits in the western United States and Alaska. Contact: Golden Phoenix Minerals, Inc. Opal Adams, 702/853-4919 Investor@golden-phoenix.com golden-phoenix.com