On January 15, 2013, J. Roland Vetter resigned as a member of the Board of Directors of Golden Phoenix Minerals Inc., effective immediately. Mr. Vetter was currently serving as a member of the Nominating and Oversight/Compensation Committees of the Board. On January 15, 2013, the Board appointed Dennis P. Gauger as the Chief Financial Officer and Corporate Secretary of the company, effective immediately.

Dennis P. Gauger, is a licensed Certified Public Accountant in Utah and Nevada. He previously served as part-time, contract Chief Financial Officer of the company from January 2004 to January 2008, and has served the company as an independent accounting and compliance consultant from January 2008 to his current appointment as Chief Financial Officer and Secretary of the company.