UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: September 3, 1998
Golden Phoenix Minerals, Inc.
(Exact name of registrant as specified in its Charter)
Minnesota 0-229054 41-1878178
(State of (Commission file (IRS Employer Identification
Incorporation) number) Number)
3595 Airway Drive, Reno, Nevada 89511
(Address of principal executive office) (Zip Code)
Registrant's telephone number (702) 853-4919
Item 6: Resignation of Registrant's Director
Daniel T. Taylor, Vice President of Exploration and a Director resigned
both positions on August 27, 1998. A copy of the letter of resignation is
attached as an exhibit. Steven D. Craig, Secretary of the Company, was appointed
as a director to replace Mr. Taylor.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused this report to be signed by the Chief Executive
Officer.
Golden Phoenix Minerals, Inc.
--------------------------------------------
Michael Fitzsimonds, Chief Executive Officer
<PAGE>
Date: August 27, 1998
To: Board of Directors Golden Phoenix Minerals
From: Daniel T. Taylor
Subject: Resignation
It is with regret that I am tendering my resignation from the position as a
director of Golden Phoenix Minerals and as Vice-President of Exploration. My
resignation from the Board of Directors is effective immediately. My resignation
from the post of Vice-President of Exploration is effective on September 26,
1998 (30 day notice as outlined in the employment contract). I will take some of
my accrued vacation prior to this termination date. If the company and Board
of Directors deem that I be released from the Company prior to the above
termination date, it will be viewed as a termination without cause (layoff) as
outlined in the employment contract. I will take possession of my 200,000 shares
of stock from the Golden Phoenix Minerals' safety deposit box at the Bank of
America. I realize that my options with the company expire on the last day of my
employment. I will sign the appropriate document releasing the Company from the
conditions of severance as outlined in the employment contract that I signed
with the company dated August 15, 1998.
It has been a very exciting employment opportunity as a member of the Golden
Phoenix Minerals team. Unfortunately, there comes a time when a person must move
on, and I believe that this is my time. I wish you the best of luck in the
future.
/s/ Daniel T. Taylor
