Golden Phoenix Engages SRK Consulting to Prepare Resource Estimate and NI-43-101 Technical Report on Santa Rosa Gold Mine, Panama

Golden Phoenix Minerals, Inc. (OTC.BB: GPXM) announced today that it has engaged SRK Consulting (U.S.) Inc. (“SRK”) to prepare a resource estimate and a NI-43-101 Technical Report for the Santa Rosa gold mine (“Mina Santa Rosa”), Panama.

SRK recently returned from a site visit at Mina Santa Rosa and has begun the process of reviewing all historical project data. SRK will develop a geological model and prepare an independent resource estimate based on the historical data available. The initial resource estimate will be presented in a NI-43-101 compliant technical report.

“Golden Phoenix is pleased to be working with SRK on Mina Santa Rosa,” stated Tom Klein, CEO of Golden Phoenix. “SRK’s global experience and in-house expertise provides the range of services we require to advance this project in a timely manner.”

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