Date: June 29, 2005

CONTACT: Jamie Thompson, Public Affairs Officer, (775) 623-1500

ASHDOWN MOLYBDENUM MINE PLAN OF OPERATIONS AVAILABLE

The Bureau of Land Management (BLM) Winnemucca Field Office announces the availability for review of a plan of operations proposed by Golden Phoenix Minerals, Inc. The Project Area is located on the west flank of the Pine Forest Range ten miles southwest of Denio Junction in Humboldt County, Nevada. Golden Phoenix Minerals has proposed to reopen the Sylvia Decline that was mined for molybdenum by American Copper and Nickel in the late 1970’s. The proposal would remove up to 120,000 tons of molybdenum bearing ore hosted within a quartz vein and 20,000 tons of waste rock by conventional underground techniques. The ore would be hauled approximately two miles to the west of the mine and processed in a flotation mill to be located on private land. The mill facility would be permitted through the Nevada Division of Environmental Protection. Surface disturbance related to the project would be up to approximately 35 acres on both public and private land. Final reclamation of the project would be completed by the end of 2009. A financial guarantee would be required for the final reclamation of the mine and mill before the start of operations. The most common use of molybdenum is as an additive to strengthen steel.

The plan of operations is available for review at the BLM Winnemucca Field Office, 5100 E. Winnemucca Blvd., Winnemucca NV 89445. The public is invited to submit comments on the proposal through July 26, 2005.

In the near future the BLM will prepare an environmental assessment (EA) for this project. Anyone wishing to receive a copy of the EA should submit a written request to the BLM Winnemucca Field Office, Attn: Ashdown Project. For further information or comment, please contact Scott Richey, Surface Protection Specialist, at 775-623-1525 or Lynn Harrison, Planning & Environmental Coordinator, at 775-623-1568.

– BLM –