Golden Phoenix Minerals Appoints Clyde Harrison to Its Board of Directors

SPARKS, Nev., June 29 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc.
(OTC Bulletin Board: GPXM) is very pleased to announce that Clyde Harrison has
accepted a seat on the Golden Phoenix Board of Directors, commencing
immediately. Mr. Harrison will join the existing Directors, bringing the
total number of board members to six.

Robert P. Martin, President of Golden Phoenix, commented on the appointment of
Mr. Harrison, stating, "It is truly an honor to welcome Clyde Harrison onto
our Board. It marks an exciting new phase for Golden Phoenix; a reemergence
in which we draw from our past experience to chart a dynamic path forward.
Clyde brings a wealth of financial know-how backed by a proven record of
performance that is unmatched. His mastery of the resource sector, his
creation of highly successful financial institutions, and his trusted
reputation lends a new dimension to our Company."

In 1968 Clyde Harrison began his career in finance with Lamson Brothers,
becoming the youngest partner in the firm's history. In 1974 he was named
General Partner to Carl Icahn, managing hedge positions for corporate
takeovers of up to $100 million. Mr. Harrison later served as a consultant to
Commerz Bank, creating the risk control system employed to relocate their
futures headquarters from Europe to Chicago. Mr. Harrison has also served as
General Partner for a number of private investment and trading funds.

More recently, Mr. Harrison was the Founding Member of Beeland Management
Company, LLC. During his 5-year tenure as its CEO, Mr. Harrison managed the
Rogers Raw Materials Index Funds, which gained 150% while the benchmark S&P
index gained 1%.

Mr. Harrison is a former member of the Managed Futures Committee of the
Chicago Mercantile Exchange, consulted for NBD Bank and Northern Trust, was
named Special Consultant to the Chairman of the Chicago Board Options Exchange
and is a prior member of the International Monetary Market.

Mr. Harrison is well known through his many articles and book contributions,
as well as numerous television appearances. He has been featured in Barron's,
Pensions & Investments, Investment News and Crain's. He is an internationally
recognized public speaker, featured at the National Conference for Public
Employee Retirement Systems, the International Exchange Conference, the US
Federal Reserve Conference and the Chicago Resource Expo, to name a few.

Mr. Harrison and his wife, Kim, presently reside in Cary, Illinois.

Reflecting upon his appointment, Clyde Harrison commented, "I look forward to
working with the Directors of Golden Phoenix and I am excited about turning
current natural resource opportunities into added value for the stockholders."

For more information on Golden Phoenix Minerals, please visit their corporate
website at http://www.Golden-Phoenix.com/.

Golden Phoenix Minerals, Inc. is a Nevada-based mining company committed to
deliver value to its shareholders by acquiring, developing and mining superior
precious and strategic metal deposits in North America using competitive
business practices balanced by principles of ethical stewardship. Golden
Phoenix owns the Mineral Ridge gold and silver property near Silver Peak,
Nevada and the Northern Champion molybdenum mine in Ontario, Canada.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The statements by David A. Caldwell, CEO, 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
molybdenum and gold 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, especially molybdenum; unexpected difficulties
in expanding production at the Company's mines; changes in customer demand or
ordering patterns for molybdenum; changes in the competitive environment
including pricing pressures or technological changes; technological advances;
shortages of skilled miners; 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.

Robert P. Martin, President, Golden Phoenix Minerals, Inc., +1-775-853-4919,
investor@golden-phoenix.com