SOURCE: Golden Phoenix Minerals, Inc.

Golden Phoenix Minerals, Inc.

September 09, 2011 12:55 ET

Zacks Investment Research Initiates Coverage on Golden Phoenix With Outperform Rating

SPARKS, NV--(Marketwire - Sep 9, 2011) - Golden Phoenix Minerals, Inc. (the "Company") (OTCBB: GPXM) announced today that Zacks Investment Research has initiated coverage of the Company.

Zacks, which provides independent investment research to individual and institutional investors, has released a comprehensive report that describes Golden Phoenix and its royalty mining growth strategy. The report includes information about the Company's business model, recent acquisitions, drilling plans and gold production.

The report initiates coverage on the Company with an outperform rating, and is available on Golden Phoenix's website at or for a free copy of the full research report, please email with GPXM in the subject line, or download it from:

About Zacks Small Cap Research: Founded in 1978 in Chicago, Zacks Investment Research is one of the largest independent investment research and consulting firms in the United States. The company provides individual and institutional investors with analytical tools and financial information necessary to the success of their investment process. Zacks' models continually process stock reports issued by 3,000 analysts from 150 brokerage firms.

Please note that any opinions, estimates or forecasts regarding Golden Phoenix Minerals Inc.'s performance made by analysts covering the Company are theirs alone and do not represent opinions, forecasts or predictions of Golden Phoenix Minerals Inc. or its management. The Company does not, by its reference above or the distribution of the aforementioned report, imply its endorsement of or concurrence with such information, conclusions or recommendations.

Please visit the Golden Phoenix website at:

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.

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