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Golden Phoenix Alert
Las Vegas, NV, April 27, 2012
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Golden Phoenix Provides Update on Preliminary Injunction
LAS VEGAS, NV, APRIL 27, 2012 - Golden Phoenix Minerals, Inc. ("Golden Phoenix"
or the "Company") (OTC Bulletin Board: GPXM) announced today that on April 26, 2012,
the Court denied the Company's request for a preliminary injunction to stop the
foreclosure and sale of the Company's 30% interest in the Mineral Ridge Gold, LLC,
the joint venture entity that owns and operates the Mineral Ridge Gold Project in
Nevada.
The balance of the issues in the lawsuit including conversion of property, accounting,
breach of the covenant of good faith, fair dealing, and others are now ready to
move forward through the normal litigation process, and the Company intends to prosecute
the case vigorously to obtain the full benefit of all legal rights and remedies
for its shareholders.
As part of the Court proceedings it was disclosed that a National Instrument ("NI")
43-101 Technical Report on the Mineral Ridge Gold Project, Nevada, was prepared
by SRK Consulting (U.S.) Inc. ("SRK") for Golden Phoenix and has been filed on SEDAR.com.
Please visit the Golden Phoenix website at: www.goldenphoenix.us.
About Golden Phoenix:  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 joint venturing gold,
silver and strategic metal deposits throughout North, South and Central America.
 Golden Phoenix owns, has an interest in, or has entered into agreements with respect
to mineral properties located in the United States, Canada, Panama and Peru including
its 30% interest in the Mineral Ridge gold project near Silver Peak, Nevada, and
 its 15% interest in Golden Phoenix Panama, S.A., the joint venture entity that
owns and operates the Concessions constituting the Santa Rosa gold mine.
Forward Looking Statements:  Information contained herein regarding optimism related
to the business, expanding exploration, development activities and other such statements
are "forward-looking statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and are subject to the safe harbors created thereby. While Golden
Phoenix believes such statements are reasonable, they are based on current expectations,
estimates and projections about the Company's business and 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, domestic and international business and economic conditions, and other
 risk factors listed in the Company's Securities and Exchange Commission (SEC) filings
under "risk factors" and elsewhere. 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.
For more information contact:
Robert Ian, Director of Corporate Communications
702-589-7560
investor@goldenphoenix.us
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Forward Looking Statements:  Information contained herein regarding optimism related
to the business, expanding exploration, development activities and other such statements
are "forward-looking statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and are subject to the safe harbors created thereby. While Golden
Phoenix believes such statements are reasonable, they are based on current expectations,
estimates and projections about the Company's business and 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, domestic and international business and economic conditions, and other
 risk factors listed in the Company's Securities and Exchange Commission (SEC) filings
under "risk factors" and elsewhere. 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.

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Golden Phoenix Minerals Inc. | 7770 Duneville Street | Suite 11 | Las Vegas | NV | 89139
.