Golden Phoenix Announces Q1 2011 Shareholder Conference Call to be Hosted From Vancouver Resource Investment Conference

SPARKS, Nev., Jan. 7, 2011 /PRNewswire/ -- Golden Phoenix Minerals, Inc. (the "Company") (OTC Bulletin Board: GPXM) is pleased to announce its first quarter 2011 shareholder conference call will be hosted from the Vancouver Resource Investment Conference on Monday, January 24, 2011. Interested shareholders are invited to participate in the call which is scheduled to begin at 10:00 A.M. Pacific/1:00 P.M. Eastern Time.

Company management will be available during the one-hour event to provide updates on 2010 accomplishments and how the Company's business model is expected to unfold in 2011.

Topics to be presented during the call will include updates on the Mineral Ridge gold project, the Porvenir moly stockpile, the acquisition of Ra Resources, the Company's recent private placement and how the proceeds are intended to be deployed, current drilling and exploration plans in each of the Company's jurisdictions plus individual shareholder questions.

"Golden Phoenix has positioned itself to advance our U.S., Canadian and Peruvian projects in 2011," stated Tom Klein, CEO of Golden Phoenix. "We expect to participate in gold production at Mineral Ridge in Nevada as part of our joint venture with Scorpio Gold Corporation, begin drilling our Shining Tree properties in Ontario and commence molybdenum production and gold exploration in Peru. We encourage everyone to email their questions and join us on the call."

You can join the call by phone or webcast. To participate in the conference call, dial 952-356-0015 and enter Conference ID 709487#. The backup telephone number is 270-506-5060. To attend by webcast, please visit the Golden Phoenix homepage for a link to the live webcast. The conference call will begin at 10:00 A.M. Pacific Time (1:00 P.M. Eastern Time) on Monday, January 24, 2011. The call-in line can accommodate 250 participants. The webcast can accommodate 2000 participants. Questions should be submitted at least three days in advance via email to: [email protected]. The Company reserves the right to select questions to discuss.

Please visit the Golden Phoenix website at:  www.golden-phoenix.com.

Golden Phoenix Minerals, Inc. is a Nevada-based mining company whose focus is Royalty Mining in the Americas. Golden Phoenix is committed to delivering shareholder value by identifying, acquiring, developing and mining superior precious and strategic metal deposits throughout North, Central and South America using competitive business practices balanced by principles of ethical stewardship. Golden Phoenix is a 30% joint venture partner with Scorpio Gold on the Mineral Ridge gold and silver property near Silver Peak, Nevada, and owns the Adams Mine and Duff Claim Block near Denio, Nevada, and the Northern Champion molybdenum mine in Ontario, Canada. Golden Phoenix has an option to earn an 80% interest in the Vanderbilt Silver and Gold Project, and the Coyote Fault Gold and Silver Project, both of which are adjacent to the Mineral Ridge gold and silver property near Silver Peak, Nevada. Golden Phoenix has entered into a Memorandum of Understanding to acquire an 80% interest in five gold and molybdenum properties in Peru; two on the Pataz Gold Trend in the north and three in the Porvenir area in the south. Golden Phoenix has entered into a Definitive Acquisition Agreement to acquire a 100% interest in four gold and base metal properties in the Shining Tree Mining District in Ontario, Canada.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements by officers of the Company, and other statements regarding optimism related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many factors including continued market prices for the Company's mineral products. In addition, actual results could vary materially based on changes or slower growth in the gold and base and precious metals markets; the potential inability to realize expected benefits and synergies in the Company's mining operations; domestic and international business and economic conditions; changes in the mining industry for base and precious minerals; unexpected difficulties in restarting or expanding production at the Company's mines; the need for additional capital and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

SOURCE Golden Phoenix Minerals, Inc.

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