Golden Phoenix Secures $1 Million to Advance Santa Rosa, Enters into Term Sheet for up to $15.5 Million Gold Stream Debt Facility

Golden Phoenix Minerals (OTCBB: GPXM) has received a $1 million bridge loan and has entered into a $15.5 million gold stream debt facility with Waterton Global Value, the use of funds from which will be to complete due diligence and fast-track development at the Santa Rosa Gold Project in Panama.  The debt facility and bridge loan will be secured by a perfected lien on, and a first priority security interest in, all of the tangible and intangible properties and assets of the Company and its subsidiaries, including its interest in Mineral Ridge in Nevada.

In addition to and simultaneous with the closing of the bridge loan, Golden Phoenix has granted Waterton an option and right of first offer to purchase its interest in the Mineral Ridge property in Nevada, for an amount that shall be based on measured, indicated and inferred gold ounces at the Mineral Ridge property at the time of the acquisition, which option may be exercised no sooner than nine months from the closing of the bridge loan transaction.

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