Attached files
| file | filename |
|---|---|
| 8-K - GOLDEN PHOENIX MINERALS, INC. FORM 8-K JANUARY 25, 2010 - GOLDEN PHOENIX MINERALS INC | gpxm8k20100125.htm |
| EX-10.1 - EMPLOYMENT SEPARATION AND SEVERANCE AGREEMENT - GOLDEN PHOENIX MINERALS INC | gpxm8k20100125ex10-1.htm |
Exhibit 99.1
GOLDEN
PHOENIX APPOINTS THOMAS KLEIN AS CEO AND SIGNS AGREEMENT TO FORM THE PHOENIX
DEVELOPMENT GROUP LLC WITH DAVID CALDWELL
-
Robert Martin appointed chairman, Roland Vetter named CFO, Clyde harrison to
Chair the Audit Committee -
SPARKS,
NV, January 29, 2010 - Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM)
is pleased to announce management changes, beginning with the appointment of
Thomas Klein to the position of Chief Executive Officer, effective February 1,
2010. Mr. Klein became an Independent Director of Golden Phoenix in
December of 2008, and since then has negotiated a multi-million dollar Company
refinancing with Crestview Capital and introduced the opportunity to joint
venture the Mineral Ridge gold property with Scorpio Gold
Corporation. Mr. Klein is charged with implementing a business plan
that includes optimizing the current assets as well as potential acquisitions,
and has agreed to serve in an interim capacity until these goals are
achieved.
David A.
Caldwell is stepping down as the Company’s CEO and Chief Geoscientist to become
the CEO and principal of Phoenix Development Group LLC, an entity to be formed
as a mine evaluation enterprise in which Golden Phoenix will hold a 25%
ownership interest. Mr. Caldwell is currently active in South and
Central America examining mining properties for presentation to Golden
Phoenix.
In a
separate Board action, Robert Martin, President, was named Chairman of the
Board, filling the seat vacated by Mr. Caldwell. Additionally, Roland
Vetter, an Independent Director, has accepted the position of Chief Financial
Officer, and Clyde Harrison, also an Independent Director, has assumed Mr.
Vetter’s position as Chairman of the Audit Committee. For more details please
refer to the Company’s Current Report on Form 8-K regarding the changes of
management within Golden Phoenix, Mr. Caldwell’s agreed upon separation terms
and the formation of the Phoenix Development Group LLC.
Tom Klein
commented on the future of Golden Phoenix, “With the anticipated closing of the
Scorpio Gold JV on our Mineral Ridge mining property, management expects to be
in a position to bring renewed growth to the Company. We look forward to
building the team, identifying new opportunities and developing our joint
venture with the Phoenix Development Group and Dave Caldwell.”
For more
information on Golden Phoenix Minerals, please visit their corporate website at
http://www.Golden-Phoenix.com/.
Golden
Phoenix Minerals, Inc. is a Nevada-based mining company committed to deliver
value to its shareholders by acquiring, developing and mining superior precious
and strategic metal deposits in North America using competitive business
practices balanced by principles of ethical stewardship. Golden Phoenix owns the
Mineral Ridge gold and silver property near Silver Peak, Nevada and the Northern
Champion molybdenum mine in Ontario, Canada.
"Safe
Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
The statements by Tom Klein, newly appointed CEO, regarding the
potential joint venture related to the Mineral Ridge property, possible new
joint ventures with Phoenix Development Group and other statements regarding
optimism related to the business, expanding exploration and development
activities and other statements in this press release are forward-looking
statements within the meaning of the Securities Litigation Reform Act of 1995.
Such statements are based on current expectations, estimates and projections
about the Company's business. Words such as expects, anticipates, intends,
plans, believes, sees, estimates and variations of such words and similar
expressions are intended to identify such forward-looking statements. These
statements 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. In addition, actual
results could vary materially based on changes or slower growth in the gold and
precious metals markets; the potential inability to realize expected benefits
and synergies in the Company’s mining operations; domestic and international
business and economic conditions; changes in the mining industry for base and
precious minerals; unexpected difficulties in expanding production at the
Company’s mines; the need for additional capital and other risk
factors listed from time to time in the Company's Securities and Exchange
Commission (SEC) filings under “risk factors” and elsewhere. The
forward-looking statements contained in this press release speak only as of the
date on which they are made, and 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.
Source:
Golden
Phoenix Minerals, Inc.
Robert P.
Martin, President (775) 853-4919
investor@golden-phoenix.com