EXHIBIT 99.1
CONTACT:
Michael Fitzsimonds, President
Golden Phoenix Minerals, Inc.
775/853-4919
Paul Knopick
E & E Communications
949/707-5365
pknopick@eandecommunications.com
GOLDEN PHOENIX MINERALS ANNOUNCES APPOINTMENT OF CFO
----------------------------------------------------
AND FORMATION OF ADVISORY COMMITTEE TO THE BOARD
------------------------------------------------
SPARKS, NV, November 24, 2004 - Golden Phoenix Minerals, Inc. (OTC Bulletin
Board: GPXM - News), announced today that its Board of Directors has appointed
Bill Thomas as Chief Financial Officer. The Board also approved the formation of
a three-person outside advisory committee to the board to assist on topics
including increasing investor awareness, heightening market perception and
broadening the Company's shareholder base.
Mr. Thomas has been Controller at Golden Phoenix Minerals for more than a year,
reporting directly to the President. As Chief Financial Officer he will report
to the Audit Committee of the Board of Directors. Prior to joining Golden
Phoenix, Mr. Thomas was Chief Financial Officer for O'Hara Resources Ltd., a
mining and petroleum company, and Patterson Inc., a natural resource
manufacturing company. He also served as Executive Vice President for Placer
Management Group, and was Controller for Kennecott Copper at its Utah Smelter.
He earned an Accounting Degree from Stevens Henagar College, Utah, and an
Economics and Business Administration degree from Westminster College, Salt Lake
City.
The Board approved the formation of a three-person advisory committee which will
assist and advise it on a number of financial matters and also on investor,
public relations and marketing issues, including ensuring that investors and
potential investors are aware of the achievements of Golden Phoenix Minerals.
"Our Board wants to make sure that we have the best guidance possible from
experts in these areas," said Michael Fitzsimonds, CEO.
Golden Phoenix Minerals Inc. is a mineral-property development company
headquartered in Reno, Nevada. It specializes in acquiring and consolidating
large, advanced-stage properties with potential for near-term production and
good resource development potential through exploration. Acquisition and
development emphasis is on deposits containing gold, silver, copper and other
strategic minerals that are located in Nevada and the western United States.
Golden Phoenix is committed to creating a high-quality portfolio of projects to
achieve substantial, long-term growth and cash flow for its shareholders through
production of valuable minerals.
Visit the Golden Phoenix Web site at http://www.Golden-Phoenix.com/
------------------------------
Forward-Looking Statements. Certain statements included herein may contain
forward-looking information within the meaning of Rule 175 under the Securities
Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are
subject to the safe harbor created by those rules. All statements, other than
statements of fact, including, without limitation, statements regarding
potential future plans and objectives of the company, are forward-looking
statements that involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. The Company's
actual results could differ materially from those anticipated in such
forward-looking statements as a result of a number of factors. These risks and
uncertainties, and certain other related factors, are discussed in the Company's
Form 10-KSB, Form 10-QSB and other filings with the Securities and Exchange
Commission. These forward-looking statements are made as of this date and the
Company assumes no obligation to update such forward- looking statements as a
result of a number of factors.