Golden Phoenix: Royalty Mining in the Americas

Golden Phoenix Expresses Condolences for Passing of Board Member Clyde Harrison

LAS VEGAS, NV, NOVEMBER 18, 2011 – The Board, Management and Staff of Golden Phoenix Minerals, Inc. expresses its condolences to the family and friends of Clyde Harrison who passed away on Thursday, November 17th. Clyde was a valued member of the Golden Phoenix Board of Directors whose insight, wisdom and humor will be missed by everyone who knew him.

Golden Phoenix JV Partner Scorpio Gold Intersects 24.39 Meters Grading 5.19 g/t Gold on Brodie Zone North Extension, Mineral Ridge Project

LAS VEGAS, NV, NOVEMBER 15, 2011 – Golden Phoenix Minerals, Inc. (“Golden Phoenix”) (OTC Bulletin Board: GPXM) joint venture partner Scorpio Gold announces the intersection of 24.39 meters grading 5.19 g/t gold on the Brodie Zone North Extension at the Mineral Ridge Gold Project in Nevada.

Golden Phoenix Joint Venture Partner Scorpio Gold Intersects Near Surface Mineralization at Wedge B Zone, Mineral Ridge Gold Project

LAS VEGAS, NV, NOVEMBER 8, 2011 – Golden Phoenix Minerals, Inc. (“Golden Phoenix”) (OTC Bulletin Board: GPXM) joint venture partner Scorpio Gold announces the intersection of near surface mineralization at the Wedge B Zone on the Mineral Ridge Gold Project in Nevada.

Golden Phoenix Completes Joint Venture Operating Agreement for Santa Rosa Gold Mine, Panama

LAS VEGAS, NV, NOVEMBER 3, 2011 – Golden Phoenix Minerals, Inc. (“Golden Phoenix”) (OTC Bulletin Board: GPXM) is pleased to announce that on October 28, 2011, it entered into a Joint Venture Operating Agreement (the “JV Agreement”) with Silver Global, S.A., a Panamanian corporation (“Silver Global”), to govern the operational and management-related aspects of the newly formed joint venture company, Golden Phoenix Panama, S.A., a Panamanian corporation (“JV Company”) formed for the purpose of holding, operating, running and mining the existing and future exploration, extraction, transport and benefit concessions encompassing the Santa Rosa gold mine (“Santa Rosa” or “Mina Santa Rosa”) located in Cañazas, Panama.

Golden Phoenix Completes Note Settlement Closing With Win-Eldrich; Receives 2% Net Smelter Royalty on Ashdown Project

LAS VEGAS, NV--(Marketwire - Nov 1, 2011) - Golden Phoenix Minerals, Inc. ("Golden Phoenix") (OTCBB: GPXM) is pleased to announce that on October 31^st, 2011, it completed the closing of a Termination, Settlement and Release Agreement (the "Agreement") it entered into with Win-Eldrich Gold, Inc. ("WEG") and Win-Eldrich Mines Limited, parent company of WEG ("WEX"), to settle an outstanding $4.2 million Promissory Note (the "Note") owed to Golden Phoenix for its share of the Ashdown Project.