Golden Phoenix Minerals (GPXM) 10-Q 14 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 10, 2013
Document and Entity Information	'	'
Entity Registrant Name	'GOLDEN PHOENIX MINERALS INC	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Amendment Flag	'false	'
Entity Central Index Key	'0001042784	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	391,851,524
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'No	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Condensed Consolidated Balance Sheets	'	'
Cash	$3,670	$287,704
Prepaid expenses and other current assets	2,579	9,754
Marketable securities	'	'
Total current assets	6,249	297,458
Property and equipment, net (substantially all held for sale)	1,216	72,384
Debt issuance costs	4,281	'
Total assets	11,746	369,842
Accounts payable	1,241,130	1,220,868
Accrued liabilities	648,578	738,932
Accrued interest payable	101,778	84,710
Notes payable	1,551,630	1,534,275
Derivative liability	97,043	'
Amounts due to related party	115,066	115,066
Total current liabilities	3,755,225	3,693,851
Commitments and contingencies	'	'
Preferred stock, no par value, 50,000,000 shares authorized, none issued	'	'
Common stock; $0.001 par value, 800,000,000 shares authorized, 391,851,524 and 369,651,524 shares issued and outstanding, respectively	391,852	369,652
Additional paid-in capital	58,447,996	58,256,712
Treasury stock, 415,392 shares at cost	-49,008	-49,008
Accumulated deficit	-62,534,319	-61,901,365
Total stockholders' deficit	-3,743,479	-3,324,009
Total liabilities and stockholders' equity (deficit)	$11,746	$369,842

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets Parenthetical (USD $)	Sep. 30, 2013	Dec. 31, 2012
Condensed Consolidated Balance Sheets Parenthetical	'	'
Preferred stock par value	'	'
Preferred stock shares authorized	50,000,000	50,000,000
Preferred stock shares issued	'	'
Common stock par value	$0.00	$0.00
Common stock shares authorized	800,000,000	800,000,000
Common stock shared issued	391,851,524	369,651,524
Common stock shares outstanding	391,851,524	369,651,524
Treasury stock shares	415,392	415,392

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Condensed Consolidated Statements of Operations and Comprehensive Loss	'	'	'	'
Rental Income	'	$7,800	'	$33,700
Exploration and evaluation expenses	17,240	84,081	139,540	314,283
General and administrative expenses	103,741	326,970	407,876	1,644,959
Depreciation and amortization expense	449	11,769	5,160	46,715
Total operating costs and expenses	121,430	422,820	552,576	2,005,957
Loss from operations	-121,430	-415,020	-552,576	-1,972,257
Interest and other income	'	124	48	1,410
Interest expense	-27,607	-7,928	-45,015	-517,701
Gain (loss) on derivative liability	35,251	'	-22,043	'
Foreign currency gain (loss)	-2,533	13,306	9,602	-58,661
Gain (loss) on disposition of property and equipment	-58,009	13,516	-58,009	13,077
Gain on extinguishment of debt	'	'	35,039	'
Impairment of marketable securities	'	-302,650	'	-302,650
Gain on disposition of interest in LLC	'	'	'	6,209,912
Gain on rescission of joint venture agreement	'	843,695	'	843,695
Total other income (expense)	-52,898	560,063	-80,378	6,189,082
Income (loss) before income taxes	-174,328	145,043	-632,954	4,216,825
Provision for income taxes	'	'	'	'
Net income (loss)	-174,328	145,043	-632,954	4,216,825
Unrealized gain on marketable securities	'	51,400	'	139,200
Comprehensive income (loss)	($174,328)	$196,443	($632,954)	$4,356,025
Income (loss) per common share, basic and diluted	$0	$0	$0	$0.01
Weighted average number of common shares outstanding - basic and diluted	391,262,218	394,236,133	381,042,725	383,156,011

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Condensed Consolidated Statements of Cash Flows	'	'
Net income (loss)	($632,954)	$4,216,825
Depreciation and amortization expense	5,160	46,715
Stock-based compensation	2,283	'
Amortization of debt issuance costs to interest expense	1,719	287,869
Amortization of debt discount to interest expense	22,950	'
Loss on derivative liability	22,043	'
Foreign currency loss	'	48,900
(Gain) loss on disposition of property and equipment	58,009	-13,077
Gain on extinguishment of debt	-35,039	'
Issuance of warrants for services	'	57,829
Impairment of marketable securities	'	302,650
Gain on rescission of joint venture agreement	'	-500,000
Gain on disposition of interest in LLC	'	-6,209,912
Decrease in prepaid expenses and other current assets	7,175	83,524
Increase in accounts payable	55,300	795,589
Increase in accrued liabilities	137,915	212,499
Net cash used in operating activities	-355,439	-670,589
Proceeds from the disposition of property and equipment	8,000	32,250
Purchase of property and equipment	'	-2,735
Net cash provided by investing activities	8,000	29,515
Proceeds from the issuance of debt	75,000	'
Payment of debt issuance costs	-6,000	'
Payments of notes payable and long-term debt	-5,595	-42,979
Net proceeds from the sale of common stock	'	412,500
Proceeds from the issuance of warrants	'	420,000
Net cash provided by financing activities	63,405	789,521
Net increase (decrease) in cash	-284,034	148,447
Cash, beginning of the period	287,704	154,607
Cash, end of the period	$3,670	$303,054

Note_1_Description_of_Business

Note 1 - Description of Business and Basis of Financial Statement Presentation	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 1 - Description of Business and Basis of Financial Statement Presentation	'
	NOTE 1 – DESCRIPTION OF BUSINESS AND BASIS OF FINANCIAL STATEMENT PRESENTATION
	Golden Phoenix Minerals, Inc. (the “Company” or “Golden Phoenix”) is a mineral exploration and development company engaged in acquiring mineral properties with potential production and future growth through exploration discoveries.  Pending requisite funding, our current growth strategy is focused on the expansion of our operations through the development of mineral properties into joint ventures or royalty mining projects.  Our current efforts are focused in Nevada and Panama.
	The Company was formed in Minnesota on June 2, 1997.  On May 30, 2008, the Company reincorporated in Nevada.
	The accompanying condensed consolidated financial statements include the accounts of the Company and of Ra Minerals, Inc. (“Ra Minerals”), a wholly-owned subsidiary.  All intercompany accounts and balances have been eliminated in consolidation.
	The interim financial information of the Company as of September 30, 2013 and for the three months and nine months ended September 30, 2013 and 2012 is unaudited, and the balance sheet as of December 31, 2012 is derived from audited financial statements.  The accompanying condensed consolidated financial statements have been prepared in accordance with U. S. generally accepted accounting principles for interim financial statements.  Accordingly, they omit or condense notes and certain other information normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles.  The accounting policies followed for quarterly financial reporting conform with the accounting policies disclosed in Note 2 to the Notes to Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2012.  In the opinion of management, all adjustments that are necessary for a fair presentation of the financial information for the interim periods reported have been made.  All such adjustments are of a normal recurring nature.  The results of operations for the three months and nine months ended September 30, 2013 are not necessarily indicative of the results that can be expected for the fiscal year ending December 31, 2013.  The unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2012.
	Certain amounts in the condensed consolidated financial statements for the three months and nine months ended September 30, 2012 have been reclassified to conform to the current period presentation.

Note_2_Going_Concern

Note 2 - Going Concern	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 2 - Going Concern	'
	NOTE 2 – GOING CONCERN
	Our condensed consolidated financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business.  However, we have a history of operating losses since our inception in 1997, and have an accumulated deficit of $62,534,319 and a total stockholders’ deficit of $3,743,479 at September 30, 2013.  Our only source of operating revenues in the recent past has been minimal rental income from our drilling equipment.  We have sold or are currently offering for sale the assets of our drilling division, and will have no more revenues from this source.
	As more fully described in these Notes to Condensed Consolidated Financial Statements and elsewhere in this quarterly report, we currently own or have entered into options and agreements for the acquisition of certain mineral properties.  None of these mineral properties currently have proven or probable reserves.  We will be required to raise significant additional capital to fund our operations and to complete the acquisition of the interests in and further the exploration, evaluation and development of our existing mineral properties and other prospects.  There can be no assurance that we will be successful in raising the required capital or that any of these mineral properties will ultimately attain a successful level of operations.
	Because of the negative impact of disputes and litigation on our fund raising efforts, including the foreclosure and sale of our interest in the Mineral Ridge LLC and the rescission of our joint venture in Panama, and other negative market factors, we have been unable to raise the capital necessary to continue our mineral property exploration and evaluation activities and fund our operations.  We have obtained only limited convertible debt financing to partially fund certain general and administrative expenses.  As a result, we have significantly scaled back our mineral property acquisition and development plans and reduced the level of our operations.  There can be no assurance that we will be successful in our efforts to obtain additional financing, or that we will be successful in our efforts to continue to raise capital at favorable rates or at all.  If we are unable to raise sufficient capital to meet our current obligations, we may be forced to further reduce or terminate operations and file for reorganization or liquidation under the bankruptcy laws.  These factors and our negative working capital position together raise doubt about our ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Note_3_Mineral_Properties

Note 3 - Mineral Properties	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 3 - Mineral Properties	'
	NOTE 3 – MINERAL PROPERTIES
	Because of lack of funds and scaling back our operations, we have allowed certain of our mineral property claims interests to lapse, and we have abandoned the projects to focus on those properties, which in the opinion of management, have the best potential for success.  Our mineral properties consist of our 10% interest in the Santa Rosa, Panama gold project and options to acquire interests in the Mhakari and North Springs properties in Nevada.  These exploration projects currently do not have proven or probable reserves.
	Santa Rosa, Panama
	During the year ended December 31, 2011, extensive efforts were directed toward the acquisition and advancement of the Santa Rosa, Panama project.  The Santa Rosa gold deposit is located near the city of Cañazas in Veraguas Province, Panama, approximately 300 kilometers southwest of Panama City.  On July 9, 2011, we entered into a letter of intent with Silver Global, S.A. (“Silver Global”) to acquire an interest in the Santa Rosa gold mine (“Santa Rosa”).  On September 16, 2011, we entered into a Definitive Acquisition Agreement to acquire a 60% interest, with an option to buy an additional 20% interest, in the Santa Rosa gold mine, via ownership in Golden Phoenix Panama S.A. (the “JV Company”), in consideration for $20,500,000 in cash over a period of approximately 12 to 15 months (with the final earn-in to occur upon achieving commercial production) and $4,500,000 in shares of our common stock (at an agreed upon value of $0.18 per share).  We subsequently completed a Joint Venture Operating Agreement with Silver Global and effected transfer of all concessions to JV Company.  We made payments in the aggregate amount of $4,500,000 in cash and issued 25,000,001 shares of our common stock in consideration for a 15% interest in the JV Company.
	Effective July 23, 2012 and subsequently amended effective July 30, 2012, we entered into a Rescission and Release Agreement (the “Rescission Agreement”) with Silver Global and the JV Company (collectively the “Parties”) whereby the Parties agreed to resolve their disputes and rescind the Definitive Acquisition Agreement.
	In accordance with the terms of the Rescission Agreement, Silver Global agreed to return and pay to us a total of $4,100,000 in scheduled payments over twelve months, subject to a discount of $750,000 as consideration for timely payments, and return to us for cancellation 25,000,001 shares of our common stock.  We were to transfer our 15% ownership interest in the JV Company to Silver Global in tranches concurrent with scheduled payments.  In the event of any default in the scheduled payments, we were keep the unpaid portion of the 15% interest in the JV Company, allowing us to either hold the interest or sell it to a third party.  Further, as part of the Rescission Agreement, all rights and obligations of the parties under the Santa Rosa Acquisition Agreement were immediately terminated, including the extinguishment of an outstanding loan for $500,000 payable by us to Silver Global.
	Concurrent with the execution of the Rescission Agreement and our receipt of the first payment of $350,000 on August 8, 2012, the arbitration proceedings previously filed by us against Silver Global and pending before the International Chamber of Commerce were dismissed, without prejudice.  As a result of the $350,000 payment from Silver Global and the extinguishment of the $500,000 note payable, less related bank and legal fees of $6,305, we recorded an $843,695 gain on rescission of the joint venture.
	In October 2012, Silver Global returned to us the 25,000,001 shares of our common stock and we cancelled these shares.  However, Silver Global elected not to make the scheduled January 2013 payment of $1,000,000, forfeiting its right to the $750,000 discount, and elected not to make further payments in July 2013 as scheduled in the Rescission Agreement.  As a result, we currently own a 10% interest in the JV Company.  We intend to either participate as a 10% owner in the Santa Rosa project, or sell all or a part of our interest in the JV Company to a third party.
	Vanderbilt, Coyote Fault and Coyote Fault Extension Properties, Esmeralda County, Nevada (“Mhakari Properties”)
	Vanderbilt
	The Vanderbilt property is within 4 miles of the town of Silver Peak, Nevada and highway 265 via Coyote Road.  It is comprised of 44 claims, plus 3 patented claims and is located on the southern flank of Mineral Ridge and is within the Silver Peak Range.  The Vanderbilt property is within the middle of the Walker Lane tectonic belt with the Sierra uplift to the west and the Basin and Range to the east.  Phase I geologic mapping and outcrop sampling (above ground) was completed in October 2010, resulting in average grades of 2.1 g/t gold and 58.6 g/t silver.  Phase II exploration program (below ground) in the old mine workings was commenced during the first quarter of 2011 to help identify drill targets, with an exploratory drill program expected to begin in the near term as funding permits.
	Coyote Fault/Coyote Fault Extension
	The Coyote Fault/Coyote Fault Extension claims are within nine miles of Silver Peak, Nevada and Hwy 265 via Coyote Road.  They are comprised of 110 contiguous claims and are also located in the middle of the Walker Lane tectonic belt with Sierra Block uplift to the west and the Basin and Range to the east.  The property is on the northern flank of Mineral Ridge and is along the eastern edge of the Silver Peak Range.  Phase I geologic mapping and outcrop sampling (above ground) was completed on the Coyote Fault claim group (38 claims) in December, 2010, which identified a new potential gold exploration target. Geological mapping of the Coyote Extension claim group (72 claims) is planned for the near term as funding permits.
	Amended and Restated Option Agreement
	On February 26, 2013, we entered into an Amended and Restated Option Agreement with Mhakari with respect to the Mhakari Properties, which terminated all rights and obligations under prior agreements and restated the parties’ agreement with respect to each of the Mhakari Properties.
	Mhakari granted us an option to acquire up to an undivided 80% interest in the Mhakari Properties for the following consideration to be paid by us to Mhakari:
	Cash payments: $25,500, payable $20,000 upon execution of the agreement (which amount was paid) and $5,500 within 60 days thereafter ($5,000 of which was paid); $20,000 payable on the 3 month anniversary of the agreement; $15,000 on the 6 month anniversary of the agreement; and $50,000 on the 15 month anniversary of the agreement.  We currently are in default on the $500 balance of the 60-day payment, the $20,000 3-month payment and the $15,000 6-month payment.
	Equity payments: 8,000,000 shares of our common stock upon the execution of the agreement (which shares were issued April 22, 2013); an additional 7,000,000 shares of our common stock on the 4 month anniversary of the agreement (which shares were issued July 2, 2013); and an additional 5,000,000 shares on the 12 month anniversary of the agreement.
	Work commitment:  $500,000 in exploration and development expenditures on the Mhakari Properties within 18 months of the date of the agreement; an additional $500,000 in exploration and development expenditures between 18 months and 30 months from the date of the agreement; with no less than $2,000,000 in exploration and development expenditures in the aggregate within 48 months from the date of the agreement.  Inclusive in this work commitment, we are to earmark no less than $10,000 per contract year for 4 years to enhancing safety on the Mhakari Properties.
	Upon satisfying the consideration payable under the agreement, we shall receive an 80% undivided interest in the Mhakari Properties and the parties shall enter into a joint venture to further develop the Mhakari Properties, with us retaining an 80% interest in the joint venture.  In the event that we fail to satisfy the entire purchase price by completing all cash, equity and work commitment payments within the required time frames, the agreement will be deemed to have been terminated and all payments made to date will be forfeited to Mhakari with no interest earned by us in the Mhakari Properties.
	As of the date of filing this report, we had not made the $500 cash payment balance due in April 2013, the $20,000 cash payment due in May 2013, and the $15,000 cash payment due in August 2013 pursuant to the Amended and Restated Option Agreement.  We are currently in discussions with Mhakari and anticipate making payments in the near future as funding permits.
	North Springs Properties, Esmeralda County, Nevada
	Under the terms of an Exploration and Mining Lease with Options to Purchase Agreement effective June 17, 2013 (the “North Springs Agreement”), we acquired the rights to 16 unpatented lode mining claims on BLM lands in Esmeralda County, Nevada, located near the operating Mineral Ridge gold project (the “North Springs Properties”).  As required by the North Springs Agreement, we made advance royalty payments of $5,000 cash in June 2013 and issued 1,000,000 shares of our common stock in July 2013.  We are further obligated to make the following payments under the terms of the North Springs Agreement:
	Date	Cash Payment	Common Share Payment
	First Anniversary of Effective Date	$10,000	1,000,000
	Second Anniversary of Effective Date	$15,000	1,000,000
	Third Anniversary of Effective Date	$20,000	1,000,000
	Fourth Anniversary of Effective Date	$25,000	1,000,000
	Fifth Anniversary of Effective Date	$30,000
	Six through Tenth Anniversary of Effective Date	$50,000
	Eleventh through Fifteenth Anniversary of Effective Date	$75,000
	Sixteenth and Each Subsequent Anniversary of Effective Date	$100,000
	Subject to prior termination, the term of the North Springs Agreement shall be for a period of twenty years commencing on the effective date.  The Company is obligated to pay a production royalty equal to three percent of the Net Smelter Returns (“NSR”) from the production or sale of minerals from the North Springs Properties and meet defined minimum annual work commitments ranging from $10,000 in the first year to $100,000 beginning in the fifth year and thereafter
	As previously described, because of lack of funding we currently are unable to significantly advance the exploration and evaluation activities on our mineral properties.  Exploration and evaluation expenses included in our condensed consolidated statements of operations and comprehensive loss were comprised of expenses incurred for the following exploration mineral properties opportunities:
		Three Months Ended September 30,		Nine Months Ended September 30,
		2013	2012	2013	2012
	Santa Rosa	$                  -	$                  -	$                  -	$         64,516
	Mhakari Properties	15,000	-	125,900	-
	North Springs Properties	2,240	-	13,640	-
	General and other	-	84,081	-	249,767
	Total	$         17,240	$         84,081	$       139,540	$       314,283

Note_4_Marketable_Securities

Note 4 - Marketable Securities	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 4 - Marketable Securities	'
	NOTE 4 – MARKETABLE SECURITIES
	Our marketable securities consist of 1,250,000 shares of American Mining Corporation common stock (“AMC”) and the 3,000,000 shares of Win-Eldrich Mines Ltd (“WEX”) common stock received in October 2011 in the settlement of a promissory note resulting from the sale of our interest in the Ashdown Project LLC.  The marketable securities are recorded at market value, with market value based on market quotes and reduced by estimated impairment losses.  We have classified these marketable securities as securities held-for-sale in accordance with Accounting Standards Update (“ASU”) Topic 320, Investments – Debt and Equity Securities.  Unrealized gains and losses resulting from changes in market value are recorded as other comprehensive income, a component of stockholders’ equity in our consolidated balance sheet.
	On May 9, 2012, trading of WEX common shares was halted on the Toronto Stock Exchange due to WEX not timely filing its annual report and audited financial statements.  This trading suspension has not been resolved by WEX and no market for the WEX common shares has developed.
	There is limited trading of the AMC shares and no market for the AMC shares has developed.
	After considering the nature of the operations of AMC and WEX, the lack of trading volume of the shares, the number of shares held by us, and other factors, we have concluded that the recorded value of marketable securities at September 30, 2013 and December 31, 2012 should be fully impaired and that the impairment loss is other-than-temporary.

Note_5_Property_and_Equipment

Note 5 - Property and Equipment	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 5 - Property and Equipment	'
	NOTE 5 – PROPERTY AND EQUIPMENT
	Property and equipment consisted of the following at:
		30-Sep-13	31-Dec-12
	Computer equipment	$             2,736	$             7,924
	Support equipment	39,932	39,932
	Drilling equipment	-	141,601
	Office furniture and equipment	-	7,459
		42,668	196,916
	Less accumulated depreciation and amortization	-41,452	-124,532
		$             1,216	$           72,384
	Our support equipment was idle and held for sale at September 30, 2013 and December 31, 2012.

Note_6_Accrued_Liabilities

Note 6 - Accrued Liabilities	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 6 - Accrued Liabilities	'
	NOTE 6 – ACCRUED LIABILITIES
	Accrued liabilities consisted of the following at:
		30-Sep-13	31-Dec-12
	Accrued payroll and related	$           95,143	$         124,112
	Liabilities assumed in Ra Minerals acquisition	172,542	178,018
	Put option liability	120,000	120,000
	Legal and consulting fees	209,350	275,760
	Other	51,543	41,042
		$         648,578	$         738,932

Note_7_Notes_Payable

Note 7 - Notes Payable	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 7 - Notes Payable	'
	NOTE 7 – NOTES PAYABLE
	Our notes payable consisted of the following at:
		30-Sep-13	31-Dec-12
	Note payable to Komatsu Equipment Company, with principal payments of $58,486 on June 30, 2008, $58,486 on June 30, 2009, and $58,485 on June 30, 2010, with interest at 8%, unsecured	$         175,457	$         175,457
	Convertible note payable to an institutional investor, with interest at 8% per annum, payable   March 6, 2014, net of discount of $24,109	18,391	-
	Convertible note payable to an institutional investor, with interest at 8% per annum, payable May 27, 2014, net of discount of $27,941	4,559	-
	Convertible notes payable to SV, non-interest bearing, payable September 30, 2012	500,000	500,000
	Convertible note payable to SV, non-interest bearing, payable September 30, 2012	413,223	413,223
	Note payable to Pinnacle, non-interest bearing, payable in scheduled monthly payments ranging from $15,000 to $30,000 through August 2012	190,000	190,000
	Convertible note payable to Pinnacle, non-interest bearing, payable October 31, 2013	250,000	250,000
	Capital lease payable to Heartland Wisconsin Corp., repaid in 2013	-	5,595
		$      1,551,630	$      1,534,275
	Convertible Notes Payable to Institutional Investor
	On June 4, 2013 and August 22, 2013,we entered into a convertible promissory notes payable to an institutional investor (“investor”) for $42,500 and $32,500, respectively, (“Convertible Notes”), which bear interest at an annual rate of 8% and matures on March 6, 2014 and May 27, 2014, respectively.  The investor has the right, after the first 180 days of the notes, to convert the Convertible Notes and accrued interest in whole or in part into shares of our common stock at a price per share equal to 58% (representing a discount rate of 42%) of the average of the lowest three trading prices for our common stock during the ten trading day period ending one trading day prior to the date of the conversion notice.
	At any time for the period beginning on the date of the Convertible Notes and ending on the date which is 30 days following the date of the Convertible Notes, we may prepay the Convertible Notes upon payment of an amount equal to the outstanding principal multiplied by 110%, together with accrued and unpaid interest.  The amount of the prepayment increases every subsequent 30 days to 115%, 120%, 125%, 130% and 135% of the outstanding principal together with accrued and unpaid interest.  After the expiration of 180 days following the date of the Convertible Notes, we will have no right of prepayment.
	At the inception of the June 4, 2013 Convertible Note, we recorded debt issuance costs of $3,000 and a debt discount and a derivative liability of $42,093 related to the conversion feature.  At the inception of the August 22, 2013 Convertible Note, we recorded debt issuance costs of $3,000, a debt discount of $32,500 and a derivative liability of $55,894.  Interest expense for the amortization of the debt discount is calculated on a straight-line basis over the life of the Convertible Notes.  As of September 30, 2013, accrued interest payable on the Convertible Notes was $1,377.
	During the nine months ended September 30, 2013, we had the following activity in the accounts related to the Convertible Notes:
		Derivative Liability	Debt Discount	Loss on Derivative Liability
	Derivative liability at inception of the note	$      97,988	$    (74,593)	$    (23,395)
	Gain on derivative liability	(945)	-407	1,352
	Amortization of debt discount to interest expense	-	22,950	-
	Balance at September 30, 2013	$      97,043	$     52,050	$    (22,043)
	In estimating the fair value of the derivative during the nine months ended September 30, 2013, we used the Black-Scholes pricing model with the following range of assumptions:
	Risk-free interest rate	0.10 –	0.40%
	Expected life in years	0.76 –	0.43
	Dividend yield	0%
	Expected volatility	204.08 –	310.37%
	Other Notes Payable
	The two convertible notes payable to Sala-Valc S.A.C., a Peruvian corporation (“SV”), resulted from an Amendment to Mining Asset Purchase and Strategic Alliance Agreement related to mineral properties in Peru.
	The two notes payable to Pinnacle Minerals Corporation (“Pinnacle”) resulted from an Amendment to Membership Interest Purchase Agreement whereby we purchased Pinnacle’s membership interest in Molyco, LLC, which owns or controls portions of mineral properties in Peru.  Pinnacle has initiated legal action related to these unpaid obligations (see Note 14).
	The parties involved in the mineral property projects in Peru were not able to finalize the transfer agreements to be filed with Peruvian governmental authorities to affect the transfer to us of the mineral properties in Peru.  We have therefore discontinued our efforts in Peru, and the ultimate disposition of the convertible notes payable to SV and the notes payable to Pinnacle is dependent on our resolution of our dispute with SV and of the legal action initiated by Pinnacle.  We are currently unable to predict the ultimate outcome of these matters.

Note_8_Amounts_Due_Related_Par

Note 8 - Amounts Due Related Party	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 8 - Amounts Due Related Party	'
	NOTE 8 – AMOUNTS DUE RELATED PARTY
	Amounts due to related party consists of a note due to Robert P. Martin, former Chairman of our Board of Directors, resulting from a debt settlement agreement entered into in April 2010.  The repayment terms of the note were restructured as part of a consulting agreement entered into with Mr. Martin effective September 1, 2011.  The obligation was paid 50% in November 2011, with the remaining 50% payable on or before February 27, 2012.  The remaining note payable balance and related accrued interest payable were still outstanding as of the date of filing this report.  At September 30, 2013 and December 31, 2013, the note payable had a principal balance of $115,066, and related accrued interest payable was $12,673 and $7,509, respectively.

Note_9_Stockholders_Equity

Note 9 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 9 - Stockholders' Equity	'
	NOTE 9 – STOCKHOLDERS’ DEFICIT
	We have 50,000,000 shares of no par value, non-voting convertible preferred stock authorized.  As of September 30, 2013 and December 31, 2012, there were no shares of preferred stock outstanding.
	We also have 800,000,000 shares of $0.001 par value common stock authorized.
	During the nine months ended September 30, 2013, we issued a total of 22,200,000 shares of our common stock: 6,200,000 shares valued at $116,000 to Jeffrey Dahl, a member of our Board of Directors, for services in accordance with our Consulting Agreement with him (Note 13) and 16,000,000 shares valued at $95,200 for exploration and evaluation expenses pursuant to our mineral property option agreements (Note 3).
	During the nine months ended September 30, 2012, we issued a total of 26,617,377 shares of our common stock, including: 24,136,364 shares for cash of $412,500 ($425,000 less $12,500 in finder’s fees) and 2,481,013 shares issued upon cashless exercise of warrants recorded at par value of $2,481.
	As of September 30, 2013 and December 31, 2012, we had 415,392 shares of our common stock acquired in a previous stock repurchase program that were recorded as treasury shares at a cost of $49,008.

Note_10_Stock_Warrants

Note 10 - Stock Warrants	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 10 - Stock Warrants	'
	NOTE 10 – STOCK WARRANTS
	We have issued warrants to purchase shares of our common stock in connection with equity financing agreements and pursuant to certain consulting agreements.
	A summary of the status of our stock warrants as of September 30, 2013, and changes during the nine months then ended is presented below:
			Weighted Average
		Shares	Exercise Price
	Outstanding, December 31, 2012	34,083,333	$   0.08
	Granted	-
	Canceled / Expired	-6,583,333	$   0.17
	Exercised	-
	Outstanding, vested and exercisable    September 30, 2013	27,500,000	$   0.06
	The following summarizes the exercise price per share and expiration date of our outstanding warrants to purchase common stock at September 30, 2013:
	Expiration Date	Price	Number
	2013	$  0.125	750,000
	2014	$    0.12	1,000,000
	2014	$  0.125	2,750,000
	2014	$     0.04	8,500,000
	2015	$    0.05	4,000,000
	2017	$    0.06	2,500,000
	2017	$    0.04	4,000,000
	2017	$    0.08	4,000,000
			27,500,000

Note_11_Stockbased_Compensatio

Note 11 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 11 - Stock-based Compensation	'
	NOTE 11 – STOCK-BASED COMPENSATION
	We account for stock-based compensation in accordance with ASU Topic 718, Compensation – Stock Compensation.  Under the fair value recognition provisions of this standard, stock-based compensation cost is measured at the grant date based on the estimated value of the award granted, using the Black-Scholes option pricing model, and recognized over the period in which the award vests in general and administrative expenses.
	Stock-based compensation expense included in general and administrative expenses for the nine months ended September 30, 2013 and 2012 was $2,283 and $0, respectively.  We had no stock-based compensation expense for the three months ended September 30, 2013 and 2012.
	During the nine months ended September 30, 2013, we granted to an officer and director stock options to purchase a total of 600,000 shares of our common stock at an exercise price of $0.0042 per share.  We estimated the grant date fair value of these options at $0.0038 per share using the Black-Scholes option pricing model with the following assumptions:
	Risk-free interest rate	0.41%
	Expected life in years	5
	Dividend yield	0%
	Expected volatility	149.42%
	The following table summarizes the stock option activity during the nine months ended September 30, 2013:
		Options	Weighted Average Exercise Price	Weighted Average Remaining Contract Term	Aggregate Intrinsic Value
	Outstanding at December 31, 2012	7,850,000	$   0.11
	Granted	600,000	$  0.004
	Exercised	-
	Expired or cancelled	-2,350,000	$   0.13
	Outstanding, vested and exercisable at September 30, 2013	6,100,000	$   0.09	2.55	$            -
	The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based on our closing stock price of $0.0037 as of September 30, 2013 which would have been received by the holders of in-the-money options had the option holders exercised their options as of that date.
	As of September 30, 2013, there was no future compensation cost related to non-vested stock-based awards not yet recognized in our condensed consolidated statements of operations and comprehensive loss.

Note_12_Earnings_loss_Per_Shar

Note 12 - Earnings (loss) Per Share	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 12 - Earnings (loss) Per Share	'
	NOTE 12 – EARNINGS (LOSS) PER SHARE
	The computation of basic earnings per common share is based on the weighted average number of shares outstanding during the period.  The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the period plus the weighted average common stock equivalents which would arise from the exercise of stock options, warrants and rights outstanding using the treasury stock method and the average market price per share during the period.
	For the three months and nine months ended September 30, 2013 and 2012, there were no common stock equivalents outstanding and, therefore, the computation of basic and diluted earnings per share were the same.  At September 30, 2013, we had outstanding options and warrants to purchase a total of 33,600,000 common shares that could have a future dilutive effect on the calculation of earnings per share.

Note_13_Consulting_Agreements

Note 13 - Consulting Agreements	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 13 - Consulting Agreements	'
	NOTE 13 – CONSULTING AGREEMENTS
	Donald B. Gunn
	On December 7, 2011, we entered into a Consulting Agreement (the “Gunn Consulting Agreement with Donald Gunn, whereby Mr. Gunn is to provide services to the Company in his role as President of the Company.  Mr. Gunn was appointed President of the Company effective March 15, 2011.  Pursuant to the Gunn Consulting Agreement, the Company has accrued monthly compensation to Mr. Gunn of $3,000 from July through November 2011 and $6,000 from December 31, 2011 forward.
	Dennis P. Gauger
	On January 15, 2013, the Board of Directors appointed Dennis P. Gauger as our Chief Financial Officer and Corporate Secretary.  Pursuant to an Independent Contractor Agreement, Mr. Gauger is to perform the agreed upon duties for a period of one year and will be paid $5,000 per month through June 2013 and $7,500 per month for the remainder of the contract.  Mr. Gauger is eligible to participate in our stock option plan as approved by the Board of Directors.
	Jeffrey Dahl
	In March 2011, we entered into a Consulting Agreement (the “2011 Dahl Consulting Agreement”) with Jeffrey Dahl, a member of our Board of Directors (“Dahl”), whereby Mr. Dahl was to develop, coordinate, manage and execute a comprehensive corporate finance and business transaction campaign for us.  The 2011 Dahl Consulting Agreement had an initial term of twelve months and could be extended for subsequent terms of twelve months upon mutual written agreement of the parties.
	In consideration for services rendered under the 2011 Dahl Consulting Agreement, we issued Mr. Dahl two-year warrants to purchase 250,000 shares of our common stock at an exercise price of $0.125 in each of the months of April 2011 through March 2012.
	In April 2012, we entered into a Consulting Agreement (the “2012 Dahl Consulting Agreement”) with Mr. Dahl, whereby Mr. Dahl was to provide certain services to us in seeking out financing and other advisory services.  The 2012 Dahl Consulting Agreement had an initial term of twelve months and was not extended upon its expiration in April 2013.
	In consideration for services rendered under the 2012 Dahl Consulting Agreement, we were to issue Mr. Dahl 2,000,000 shares of our common stock upon signing and 350,000 shares of our common stock for each of the months of April 2012 through March 2013.  In March 2013, we issued 6,200,000 shares of our common stock to Mr. Dahl for services valued at $116,000, based on the estimated market value of the shares, in full payment of our obligation under the 2012 Consulting Agreement.

Note_14_Legal_Matters

Note 14 - Legal Matters	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 14 - Legal Matters	'
	NOTE 14 – LEGAL MATTERS
	On February 27, 2012, the Company was sued by Wayne Caldwell, a former employee claiming he was owed back wages (Wayne Caldwell v. Golden Phoenix Minerals, Inc., case number CV 12 – 00480, in the 2nd Judicial District Court, in and for the County of Washoe, State of Nevada).  At a court ordered settlement conference, the parties reached a settlement whereby we agreed to pay Mr. Colwell the sum of $80,000 in satisfaction of all claims.  Pursuant to the settlement agreement, we paid Mr. Colwell the sum of $20,000 and agreed to pay the balance of $60,000 prior to August1, 2013.  We paid Mr. Colwell $5,000 in September 2013, but have been unable to pay the remaining obligation.
	On May 22 and 2013, the Company was sued by Pinnacle Minerals Corporation, a Florida corporation, seeking payments allegedly due on the two promissory notes discussed in Note 7 issued in connection with a membership interest purchase agreement entered into as of March 7, 2011, relating to a Peruvian mining venture.  The case was filed in the United States District Court for the District of Nevada, as “Pinnacle Minerals Corporation v. Golden Phoenix Minerals, Inc., Case number 2:13 – CV – 00915 – MMD – NJK.  We filed a motion to stay the litigation and compel arbitration, pursuant to a provision of the subject purchase agreement.  Based on negotiations, and agreement and stipulation between the parties, this case was dismissed on July 22, 2013.  The parties have agreed to submit the dispute to binding arbitration in Reno, Nevada.  No date has been set for the arbitration, and no discovery or other proceedings have yet taken place.  We are denying liability in the case and intend to vigorously defend the claims, as well as file a counterclaim and various third-party claims, all of which will be pursued through the arbitration proceedings.

Note_15_Supplemental_Statement

Note 15 - Supplemental Statement of Cash Flows Information	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 15 - Supplemental Statement of Cash Flows Information	'
	NOTE 15 – SUPPLEMENTAL STATEMENT OF CASH FLOWS INFORMATION
	During the nine months ended September 30, 2013 and 2012, we made no cash payments for income taxes.
	During the nine months ended September 30, 2013 and 2012, we made cash payments for interest totaling $2,647 and $35,928, respectively.
	During the nine months ended September 30, 2013, we had the following non-cash financing and investing activities:
	·         Decreased accrued liabilities by $211,201, increased common stock by $22,200 and increased additional paid-in capital by $189,001 for common shares issued in payment of accrued consulting fees and exploration and evaluation expenses.
	During the nine months ended September 30, 2012, we had the following non-cash financing and investing activities:
	·         Increased marketable securities and increased other comprehensive income by $139,200 for unrealized gain on marketable securities.
	·         Increased common stock and decreased additional paid-in capital by $2,481 for cashless exercise of warrants.

Note_16_Recent_Accounting_Pron

Note 16 - Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 16 - Recent Accounting Pronouncements	'
	NOTE 16 – RECENT ACCOUNTING PRONOUNCEMENTS
	In April 2013, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2013-07, Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting.  Under the new standard, an organization will be required to prepare its financial statements using the liquidation basis of accounting when liquidation is “imminent.”  Liquidation is considered imminent when the likelihood is remote that the organization will return from liquidation and either (a) a plan for liquidation is approved by the person or persons with the authority to make such a plan effective and the likelihood is remote that the execution of the plan will be blocked by other parties or (b) a plan for liquidation is being imposed by other forces (for example, involuntary bankruptcy).  In addition, the new standard provides principles for the recognition and measurement of assets and liabilities and requirements for financial statements prepared using the liquidation method of accounting.  The new standard is effective for entities that determine liquidation is imminent during annual periods beginning after December 15, 2013, and interim reporting periods therein.  Entities are to apply the requirements prospectively from the day that liquidation becomes imminent, and early adoption is permitted.  We are currently unable to determine the impact on our consolidated financial statements of the new standard should we be required to adopt it in the future.

Note_17_Subsequent_Events

Note 17 - Subsequent Events	9 Months Ended
	Sep. 30, 2013
Notes	'
Note 17 - Subsequent Events	'
	NOTE 17 – SUBSEQUENT EVENTS
	On November 5, 2013, we entered into a convertible promissory note with an institutional investor in the principal amount of $15,575, which bears interest at an annual rate of 8% and matures on August 7, 2014.  The note has essentially the same terms and features as the convertible notes payable to an institutional investor described in Note 7.

Note_1_Description_of_Business1

Note 1 - Description of Business and Basis of Financial Statement Presentation: Basis of accounting policy (Policies)	9 Months Ended
	Sep. 30, 2013
Policies	'
Basis of accounting policy	'
	The interim financial information of the Company as of September 30, 2013 and for the three months and nine months ended September 30, 2013 and 2012 is unaudited, and the balance sheet as of December 31, 2012 is derived from audited financial statements.  The accompanying condensed consolidated financial statements have been prepared in accordance with U. S. generally accepted accounting principles for interim financial statements.  Accordingly, they omit or condense notes and certain other information normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles.  The accounting policies followed for quarterly financial reporting conform with the accounting policies disclosed in Note 2 to the Notes to Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2012.  In the opinion of management, all adjustments that are necessary for a fair presentation of the financial information for the interim periods reported have been made.  All such adjustments are of a normal recurring nature.  The results of operations for the three months and nine months ended September 30, 2013 are not necessarily indicative of the results that can be expected for the fiscal year ending December 31, 2013.  The unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2012.

Note_3_Mineral_Properties_Sche

Note 3 - Mineral Properties: Schedule of Payments under North Springs Agreement (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Payments under North Springs Agreement	'
	Date	Cash Payment	Common Share Payment
	First Anniversary of Effective Date	$10,000	1,000,000
	Second Anniversary of Effective Date	$15,000	1,000,000
	Third Anniversary of Effective Date	$20,000	1,000,000
	Fourth Anniversary of Effective Date	$25,000	1,000,000
	Fifth Anniversary of Effective Date	$30,000
	Six through Tenth Anniversary of Effective Date	$50,000
	Eleventh through Fifteenth Anniversary of Effective Date	$75,000
	Sixteenth and Each Subsequent Anniversary of Effective Date	$100,000

Note_3_Mineral_Properties_Sche1

Note 3 - Mineral Properties: Schedule Of Exploration And Evaluation Expenses (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule Of Exploration And Evaluation Expenses	'
		Three Months Ended September 30,		Nine Months Ended September 30,
		2013	2012	2013	2012
	Santa Rosa	$                  -	$                  -	$                  -	$         64,516
	Mhakari Properties	15,000	-	125,900	-
	North Springs Properties	2,240	-	13,640	-
	General and other	-	84,081	-	249,767
	Total	$         17,240	$         84,081	$       139,540	$       314,283

Note_5_Property_and_Equipment_

Note 5 - Property and Equipment: Schedule Of Property And Equipment (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule Of Property And Equipment	'
		30-Sep-13	31-Dec-12
	Computer equipment	$             2,736	$             7,924
	Support equipment	39,932	39,932
	Drilling equipment	-	141,601
	Office furniture and equipment	-	7,459
		42,668	196,916
	Less accumulated depreciation and amortization	-41,452	-124,532
		$             1,216	$           72,384

Note_6_Accrued_Liabilities_Sch

Note 6 - Accrued Liabilities: Schedule of Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Accrued Liabilities	'
		30-Sep-13	31-Dec-12
	Accrued payroll and related	$           95,143	$         124,112
	Liabilities assumed in Ra Minerals acquisition	172,542	178,018
	Put option liability	120,000	120,000
	Legal and consulting fees	209,350	275,760
	Other	51,543	41,042
		$         648,578	$         738,932

Note_7_Notes_Payable_Schedule_

Note 7 - Notes Payable: Schedule of Debt (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Debt	'
		30-Sep-13	31-Dec-12
	Note payable to Komatsu Equipment Company, with principal payments of $58,486 on June 30, 2008, $58,486 on June 30, 2009, and $58,485 on June 30, 2010, with interest at 8%, unsecured	$         175,457	$         175,457
	Convertible note payable to an institutional investor, with interest at 8% per annum, payable   March 6, 2014, net of discount of $24,109	18,391	-
	Convertible note payable to an institutional investor, with interest at 8% per annum, payable May 27, 2014, net of discount of $27,941	4,559	-
	Convertible notes payable to SV, non-interest bearing, payable September 30, 2012	500,000	500,000
	Convertible note payable to SV, non-interest bearing, payable September 30, 2012	413,223	413,223
	Note payable to Pinnacle, non-interest bearing, payable in scheduled monthly payments ranging from $15,000 to $30,000 through August 2012	190,000	190,000
	Convertible note payable to Pinnacle, non-interest bearing, payable October 31, 2013	250,000	250,000
	Capital lease payable to Heartland Wisconsin Corp., repaid in 2013	-	5,595
		$      1,551,630	$      1,534,275

Note_7_Notes_Payable_Schedule_1

Note 7 - Notes Payable: Schedule of Convertible Note Activity (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Convertible Note Activity	'
		Derivative Liability	Debt Discount	Loss on Derivative Liability
	Derivative liability at inception of the note	$      97,988	$    (74,593)	$    (23,395)
	Gain on derivative liability	(945)	-407	1,352
	Amortization of debt discount to interest expense	-	22,950	-
	Balance at September 30, 2013	$      97,043	$     52,050	$    (22,043)

Note_7_Notes_Payable_Schedule_2

Note 7 - Notes Payable: Schedule of Fair Value of Convertible Note (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Fair Value of Convertible Note	'
	Risk-free interest rate	0.10 –	0.40%
	Expected life in years	0.76 –	0.43
	Dividend yield	0%
	Expected volatility	204.08 –	310.37%

Note_10_Stock_Warrants_Schedul

Note 10 - Stock Warrants: Schedule of Stockholders' Equity Note, Warrants or Rights (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Stockholders' Equity Note, Warrants or Rights	'
			Weighted Average
		Shares	Exercise Price
	Outstanding, December 31, 2012	34,083,333	$   0.08
	Granted	-
	Canceled / Expired	-6,583,333	$   0.17
	Exercised	-
	Outstanding, vested and exercisable    September 30, 2013	27,500,000	$   0.06

Note_10_Stock_Warrants_Schedul1

Note 10 - Stock Warrants: Schedule Of Exercise Price Per Share Of Outstanding Warrants To Purchase Common Stock (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule Of Exercise Price Per Share Of Outstanding Warrants To Purchase Common Stock	'
	Expiration Date	Price	Number
	2013	$  0.125	750,000
	2014	$    0.12	1,000,000
	2014	$  0.125	2,750,000
	2014	$     0.04	8,500,000
	2015	$    0.05	4,000,000
	2017	$    0.06	2,500,000
	2017	$    0.04	4,000,000
	2017	$    0.08	4,000,000
			27,500,000

Note_11_Stockbased_Compensatio1

Note 11 - Stock-based Compensation: Schedule of Fair Value of Stock Options (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Fair Value of Stock Options	'
	Risk-free interest rate	0.41%
	Expected life in years	5
	Dividend yield	0%
	Expected volatility	149.42%

Note_11_Stockbased_Compensatio2

Note 11 - Stock-based Compensation: Schedule of Share-based Compensation, Stock Options, Activity (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Share-based Compensation, Stock Options, Activity	'
		Options	Weighted Average Exercise Price	Weighted Average Remaining Contract Term	Aggregate Intrinsic Value
	Outstanding at December 31, 2012	7,850,000	$   0.11
	Granted	600,000	$  0.004
	Exercised	-
	Expired or cancelled	-2,350,000	$   0.13
	Outstanding, vested and exercisable at September 30, 2013	6,100,000	$   0.09	2.55	$            -

Note_2_Going_Concern_Details

Note 2 - Going Concern (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Details	'	'
Accumulated deficit	$62,534,319	$61,901,365
Total stockholders' deficit	$3,743,479	$3,324,009

Note_3_Mineral_Properties_Mina

Note 3 - Mineral Properties: Mina Santa Rosa (Details) (USD $)	1 Months Ended	3 Months Ended	9 Months Ended
	Jul. 31, 2012	Sep. 30, 2012	Sep. 30, 2012	Jan. 13, 2013	Jul. 23, 2012	Dec. 31, 2011
Details	'	'	'	'	'	'
Cash to be paid over a period of approximately 12 to 15 months	'	'	'	'	'	$20,500,000
Shares of the Company's common stock value	'	'	'	'	'	4,500,000	[1]
Ownership interest to be released	'	'	'	'	'	15.00%
Rescission payments due to company	'	'	'	'	4,100,000	'
Consideration for timely rescission payments	'	'	'	'	750,000	'
Cancellation of shares	25,000,001	'	'	'	'	'
Extinguishment of the outstanding loan payable to Silver Global	'	'	'	'	500,000	'
Rescission payments received by company	'	'	'	'	350,000	'
Rescission Of Joint Venture Legal Fees	6,305	'	'	'	'	'
Gain on rescission of joint venture agreement	843,695	843,695	843,695	'	'	'
RescissionAgreementJanuary132013Payment	'	'	'	$1,000,000	'	'
[1]	(at an agreed upon value of $0.18 per share)

Note_3_Mineral_Properties_Vand

Note 3 - Mineral Properties: Vanderbilt, Coyote Fault and Coyote Fault Extension Properties, Esmeralda County, Nevada (Details) (USD $)	Feb. 26, 2013
Details	'
Option to acquire up to an undivided interest in the Mhakari Properties	80.00%
Option to acquire Mhakari Properties Cash Payments Consideration	$25,500
Option to acquire Mhakari Properties Cash Payable Upon Execution	20,000
Option to acquire Mhakari Properties Cash Payable Within 60 Days	5,500
Option to acquire Mhakari Properties Cash Payable On 6 Month Anniversary	15,000
Option to acquire Mhakari Properties Cash Payable On 15 Month Anniversary	50,000
Option to acquire Mhakari Properties Equity Payments Common Shares	8,000,000
Option to acquire Mhakari Properties Equity Payments Common Shares 4 Month Anniversayr	7,000,000
Option to acquire Mhakari Properties Equity Payments Common Shares 12 Month Anniversayr	5,000,000
Option to acquire Mhakari Properties Work Commitment exploration and development expenditures	500,000
Option to acquire Mhakari Properties Work Commitment exploration and development expenditures 18 to 30 Months from date of agreement	500,000
Option to acquire Mhakari Properties Work Commitment exploration and development expenditures aggregate 48 months from date of agreement	2,000,000
Option to acquire Mhakari Properties Work Commitment Safely Enhancement Annual Earmark	$10,000

Note_3_Mineral_Properties_Deta

Note 3 - Mineral Properties (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Details	'
Advance royalty payments	$5,000
Shares issued per North Springs Agreement	1,000,000
Minimum annual work 1st Year	10,000
Minimum annual work 5th Year and thereafter	$100,000

Note_3_Mineral_Properties_Sche2

Note 3 - Mineral Properties: Schedule of Payments under North Springs Agreement (Details) (USD $)	48 Months Ended
	Jun. 17, 2028	Jun. 17, 2023	Jun. 17, 2029	Jun. 17, 2018	Jun. 17, 2017	Jun. 17, 2016	Jun. 17, 2015
Details	'	'	'	'	'	'	'
Cash Payment	'	'	$100,000	$30,000	$25,000	$20,000	$15,000
Common Shares Payment	'	'	'	'	1,000,000	1,000,000	1,000,000
Additional Cash Payment	$75,000	$50,000	'	'	'	'	'

Note_3_Mineral_Properties_Sche3

Note 3 - Mineral Properties: Schedule Of Exploration And Evaluation Expenses (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Exploration and evaluation expenses	$17,240	$84,081	$139,540	$314,283
Mina Santa Rosa	'	'	'	'
Exploration and evaluation expenses	'	'	'	64,516
Mhakari Properties	'	'	'	'
Exploration and evaluation expenses	15,000	'	125,900	'
North Springs	'	'	'	'
Exploration and evaluation expenses	2,240	'	13,640	'
General and other	'	'	'	'
Exploration and evaluation expenses	'	$84,081	'	$249,767

Note_4_Marketable_Securities_D

Note 4 - Marketable Securities (Details)	Sep. 30, 2013
Details	'
Shares of American Mining Corporation common stock	1,250,000
Shares of Win-Eldrich Mines Ltd ('WEX') common stock	3,000,000

Note_5_Property_and_Equipment_1

Note 5 - Property and Equipment: Schedule Of Property And Equipment (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Property, Plant and Equipment, Gross	$42,668	$196,916
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	-41,452	-124,532
Property and equipment, net (substantially all held for sale)	1,216	72,384
Computer Equipment	'	'
Property, Plant and Equipment, Gross	2,736	7,924
DrillingEquipmentMember	'	'
Property, Plant and Equipment, Gross	39,932	39,932
SupportEquipmentMember	'	'
Property, Plant and Equipment, Gross	'	141,601
Office Furniture And Equipment	'	'
Property, Plant and Equipment, Gross	'	$7,459

Note_6_Accrued_Liabilities_Sch1

Note 6 - Accrued Liabilities: Schedule of Accrued Liabilities (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Accrued liabilities	$648,578	$738,932
Accrued payroll and related	'	'
Accrued liabilities	95,143	124,112
Liabilities assumed in Ra acquisition	'	'
Accrued liabilities	172,542	178,018
Put option liability	'	'
Accrued liabilities	120,000	120,000
Legal and consulting fees	'	'
Accrued liabilities	209,350	275,760
Other	'	'
Accrued liabilities	$51,543	$41,042

Note_7_Notes_Payable_Schedule_3

Note 7 - Notes Payable: Schedule of Debt (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Long-term Debt	$1,551,630	$1,534,275
KomatsuEqiupmentNoteMember	'	'
Long-term Debt	175,457	175,457
Institutional Investor	'	'
Long-term Debt	18,391	'
Institutional Investor 2	'	'
Long-term Debt	4,559	'
SVNote1Member	'	'
Long-term Debt	500,000	500,000
SVNote2Member	'	'
Long-term Debt	413,223	413,223
PinnacleMember	'	'
Long-term Debt	190,000	190,000
PinnacleConvertibleNoteMember	'	'
Long-term Debt	250,000	250,000
CapitalLeaseHeartlandWisconsinMember	'	'
Long-term Debt	'	$5,595

Note_7_Notes_Payable_Details

Note 7 - Notes Payable (Details) (USD $)	1 Months Ended
	Aug. 31, 2013	Jun. 30, 2013	Sep. 30, 2013	Aug. 22, 2013	Jun. 04, 2013
Debt Issuance Cost	$3,000	$3,000	'	'	'
Derivative Liability, Notional Amount	'	'	'	55,894	42,093
Debt Instrument, Unamortized Discount	'	'	'	32,500	'
Convertible notes accrued interest payable	'	'	1,377	'	'
Institutional Investor	'	'	'	'	'
Convertible Notes Payable	'	'	'	$32,500	$42,500
Interest Rate	'	'	'	8.00%	8.00%

Note_7_Notes_Payable_Schedule_4

Note 7 - Notes Payable: Schedule of Convertible Note Activity (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Derivative liability at inception	($23,395)
Derivative Liability Loss	1,352
Amortization of debt discount to interest expense	-22,950
LossOnDerivativeLiability	-22,043
Derivative Liability	'
Derivative liability at inception	97,988
Derivative Liability Loss	-945
LossOnDerivativeLiability	97,043
Debt Discount	'
Derivative liability at inception	-74,593
Derivative Liability Loss	-407
Amortization of debt discount to interest expense	22,950
LossOnDerivativeLiability	$52,050

Note_7_Notes_Payable_Schedule_5

Note 7 - Notes Payable: Schedule of Fair Value of Convertible Note (Details)	9 Months Ended
	Sep. 30, 2013
Minimum	'
Fair Value Assumptions, Risk Free Interest Rate	0.10%
Fair Value Assumptions, Expected Term	'9 months 4 days
Fair Value Assumptions, Expected Dividend Rate	0.00%
Fair Value Assumptions, Expected Volatility Rate	204.08%
Maximum	'
Fair Value Assumptions, Risk Free Interest Rate	0.40%
Fair Value Assumptions, Expected Term	'5 months 5 days
Fair Value Assumptions, Expected Volatility Rate	310.37%

Note_8_Amounts_Due_Related_Par1

Note 8 - Amounts Due Related Party (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Details	'	'
Related party note principal	$115,066	'
Related party accrued interest payable	$12,673	$7,509

Note_9_Stockholders_Equity_Det

Note 9 - Stockholders' Equity (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2013	Dec. 31, 2012
Preferred stock shares authorized	50,000,000	'	'	50,000,000
Common stock shares authorized	800,000,000	'	'	800,000,000
Common stock par value	$0.00	'	'	$0.00
Common Shares Issued For Services	22,200,000	'	'	'
Stock Issued During Period, Shares, New Issues	'	26,617,377	'	'
Development Stage Entities, Stock Issued, Shares, Issued for Cash	'	24,136,364	'	'
Development Stage Entities, Stock Issued, Value, Issued for Cash	'	$412,500	'	'
Shares Issued For Cashless Exercise of Warrants	'	2,481,013	'	'
Development Stage Entities, Stock Issued, Value, Issued for Noncash Consideration	'	2,481	'	'
Treasury stock shares	415,392	'	'	415,392
Treasury stock, 415,392 shares at cost	49,008	'	49,008	49,008
Services - Jeffrey Dahl	'	'	'	'
Common Shares Issued For Services	6,200,000	'	'	'
Common Shares Issued For Services Value	116,000	'	'	'
Exploration and Evaluation Expenses	'	'	'	'
Common Shares Issued For Services	16,000,000	'	'	'
Common Shares Issued For Services Value	$95,200	'	'	'

Note_10_Stock_Warrants_Schedul2

Note 10 - Stock Warrants: Schedule of Stockholders' Equity Note, Warrants or Rights (Details) (USD $)	9 Months Ended
	Sep. 30, 2013		Dec. 31, 2012
Details	'		'
Common stock warrants outstanding	27,500,000		34,083,333
Common Stock Warrants Outstanding Weighted Average Price	$0.06		$0.08
Common stock warrants canceled / expired	-6,583,333	[1]	'
[1]	Weighted average exercise price of $0.06

Note_10_Stock_Warrants_Schedul3

Note 10 - Stock Warrants: Schedule Of Exercise Price Per Share Of Outstanding Warrants To Purchase Common Stock (Details) (USD $)	Sep. 30, 2013
Outstanding Warrants To Purchase Common Stock	27,500,000
Outstanding Warrants Group 1	'
Exercise Price Per Share	0.125
Outstanding Warrants To Purchase Common Stock	750,000
Outstanding Warrants Group 4	'
Exercise Price Per Share	0.12
Outstanding Warrants To Purchase Common Stock	1,000,000
Outstanding Warrants Group 5	'
Exercise Price Per Share	0.125
Outstanding Warrants To Purchase Common Stock	2,750,000
Outstanding Warrants Group 6	'
Exercise Price Per Share	0.04
Outstanding Warrants To Purchase Common Stock	8,500,000
Outstanding Warrants Group 7	'
Exercise Price Per Share	0.05
Outstanding Warrants To Purchase Common Stock	4,000,000
Outstanding Warrants Group 8	'
Exercise Price Per Share	0.06
Outstanding Warrants To Purchase Common Stock	2,500,000
Outstanding Warrants Group 9	'
Exercise Price Per Share	0.04
Outstanding Warrants To Purchase Common Stock	4,000,000
Outstanding Warrants Group 10	'
Exercise Price Per Share	0.08
Outstanding Warrants To Purchase Common Stock	4,000,000

Note_11_Stockbased_Compensatio3

Note 11 - Stock-based Compensation (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Details	'	'
Stock-based compensation expense	$2,283	$0
Stock Options Granted to an officer and director	600,000	'
Stock Options Granted to an officer and director exercise price	$0.00	'
Stock Options Granted to an officer and director fair value exercise price	$0.00	'
Closing stock price	$0.00	'

Note_11_Stockbased_Compensatio4

Note 11 - Stock-based Compensation: Schedule of Fair Value of Stock Options (Details) (Stock Based Compensation)	9 Months Ended
	Sep. 30, 2013
Stock Based Compensation	'
Fair Value Assumptions, Risk Free Interest Rate	0.41%
Fair Value Assumptions, Expected Term	'5 years
Fair Value Assumptions, Expected Dividend Rate	0.00%
Fair Value Assumptions, Weighted Average Volatility Rate	149.42%

Note_11_Stockbased_Compensatio5

Note 11 - Stock-based Compensation: Schedule of Share-based Compensation, Stock Options, Activity (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Details	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	6,100,000	7,850,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance	$0.11	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	600,000	'
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$0.00	'
Stock Granted, Value, Share-based Compensation, Forfeited	($2,350,000)	'
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price	$0.13	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance	$0.09	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	'2 years 6 months 18 days	'

Note_12_Earnings_loss_Per_Shar1

Note 12 - Earnings (loss) Per Share (Details)	Sep. 30, 2013
Details	'
Outstanding options and warrants	33,600,000

Note_13_Consulting_Agreements_

Note 13 - Consulting Agreements (Details) (USD $)	1 Months Ended	9 Months Ended
	Mar. 31, 2013	Sep. 30, 2013	Dec. 07, 2011
Details	'	'	'
Accrued monthly compensation July through November 2011 - Donald B. Gunn	'	'	$3,000
Accrued monthly compensation December 2011 forward - Donald B. Gunn	'	'	6,000
Gauger Monthly Fee Through June 2013	'	5,000	'
Gauger Monthly Fee Remainder Of Contract	'	7,500	'
Dahl Two Year Warrant For Purchase Of Common Shares	'	250,000	'
Dahl Two Year Warrant For Purchase Of Common Shares Exercise Price	'	$0.13	'
Warrants Issued Dahl Consulting Agreement 2012	'	2,000,000	'
Warrants Issued Dahl Consulting Agreement 2012 In March and April	'	350,000	'
Shares Issued Dahl Consulting Agreement	6,200,000	'	'
Shares Issued Dahl Consulting Agreement Value	$116,000	'	'

Note_14_Legal_Matters_Details

Note 14 - Legal Matters (Details) (USD $)	1 Months Ended
	Sep. 30, 2013	Feb. 27, 2012
Details	'	'
Legal Settlement Payment to Former Employee	'	$80,000
Legal Settlement Payment to Former Employee - Initial Payment	'	20,000
Legal Settlement Payment to Former Employee - Balance Payment	$5,000	'

Note_15_Supplemental_Statement1

Note 15 - Supplemental Statement of Cash Flows Information (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Details	'	'
Cash payments for interest	$2,647	$35,928
Decreased accrued liabilities	211,201	'
Increase Common Stock	22,200	'
Increased additional paid-in capital	189,001	'
Increased marketable securities and decreased other comprehensive loss	139,200	'
Increased common stock and decreased additional paid-in capital	$2,481	'

Note_17_Subsequent_Events_Deta

Note 17 - Subsequent Events (Details) (USD $)	Nov. 05, 2013
Details	'
Convertible promissory note	$15,575
Convertible promissory note interest rate	8.00%