Golden Phoenix Announces Buyback Program of 20% of Outstanding Shrares

Golden Phoenix Minerals, Inc. (GPXM) announced today that its Board of Directors has approved the repurchase of an aggregate of up to 20% of its outstanding Common Stock, effective immediately. "Based on current market prices, we believe the repurchase program is in the best interests of our shareholders," stated Tom Klein, CEO of Golden Phoenix. The repurchases will be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market. The repurchase program is expected to continue over the next twelve (12) months unless extended or shortened by the Board of Directors.