LAS VEGAS, NV, OCTOBER 28, 2011 – Golden Phoenix Minerals, Inc. (the “Company”) (OTC Bulletin Board: GPXM) is pleased to announce the relocation of its corporate office from Sparks (Reno), NV to Las Vegas, NV effective October 31st, 2011.

“The expiration of our current lease created the opportunity for exploring various locations that will suit the Company’s needs for the foreseeable future,” stated Tom Klein, CEO of Golden Phoenix. “Our portfolio of properties in Panama, Ontario, Peru and Nevada requires easy access to our global headquarters. With nearly four times as many airlines serving Las Vegas as our previous location, visitors to our corporate office will have increased travel options.”

The Company’s new address is: Golden Phoenix Minerals, Inc., 7770 Duneville Street, Suite 11, Las Vegas, NV 89139. The new corporate telephone number is: (702) 589-7475.

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.

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) 983-0469
investor@goldenphoenix.us