----

----

----

|   | 1. | Incorporation of      Recitals.  Each of the preliminary statements is deemed      to be true and correct, and the same are hereby incorporated by reference      as if fully stated herein. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Consideration.  As      consideration for this Agreement and STEVEN D. CRAIG’s dismissal of the      Lawsuit with prejudice, and the relinquishment of the Claims by both      STEVEN D. CRAIG and the authorized representative on behalf of the ESTATE      OF COLLETTE CRATER-CRAIG, the Parties have agreed as    follows: |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | a. | GOLDEN      PHOENIX shall, within twenty (20) trading days, not calendar days,      following receipt at the notice address below of the Agreement executed by      the CRAIGS, contact interested third parties to be identified (hereinafter      “Third Parties”) who have indicated to GOLDEN PHOENIX that they are      willing to purchase, at a twenty percent (20%) discount of the share      price, the 984,300 shares subject to the options granted at fifteen (15)      cents per share by GOLDEN PHOENIX to STEVEN D. CRAIG in May of 2000 for      the reimbursement of “back salaries” and interest  thereon. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | GOLDEN      PHOENIX shall, within the same twenty (20) trading day period referenced      in paragraph 2.a., make a good faith effort to obtain the agreement of      Third Parties to purchase the subject shares at the share price determined      as set forth in paragraph 2.d. Such agreement by Third Parties is a      condition precedent to the covenants and releases set forth within this      Agreement. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c. | If      GOLDEN PHOENIX does not obtain the agreement of Third Parties within the      twenty (20) day trading period to purchase the subject shares as set forth      herein, the Parties may agree in writing to extend the period for a      specified number of trading days or to a specific date. Each extension is      subject to the provisions of this Agreement, unless otherwise provided in      writing. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | d. | The      purchase price per share to the Third Parties of these stocks, both      registered and unregistered, will be determined by calculating the mean      average of the daily closing price of one (1) share of the stock for      twenty (20) trading days, not calendar days, immediately preceding receipt      by GOLDEN PHOENIX at the notice address below of the Agreement executed by      the CRAIGS, and this mean average share price shall be further discounted      twenty percent (20%). The purchase price per share for any extension that      may be necessary will be determined consistent with this paragraph,      however the valuation period for each extension shall be twenty (20)      trading days immediately preceding the date the written extension is fully      executed by both parties. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | e. | After      obtaining the agreement of Third Parties to purchase the subject shares at      the purchase price set forth in paragraph 2.d., GOLDEN PHOENIX will      establish an escrow account, mutually acceptable to the Parties and Third      Parties, fifty percent (50%) of the total cost of which shall be borne by      the CRAIGS and fifty percent (50%) by GOLDEN PHOENIX. GOLDEN PHOENIX will      retire the balance, owed on that date, of the “back salaries,” not      including interest, to the CRAIGS, as against the fifteen (15) cents per      share exercise price of the subject options identified in paragraph 2.a.,      the resulting shares to be placed in the aforementioned escrow pending      completion of the purchase by the ThirdParties. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | f. | GOLDEN      PHOENIX and the CRAIGS agree that all scheduled payments of the “back      salaries” shall be suspended upon the execution of this Agreement and      subsequent extensions, if necessary, pending the use of the balance owing,      as against the exercise price of the options, described in paragraph 2.e.,      and these scheduled payments shall be terminated thereafter. Upon      execution of this Agreement, GOLDEN PHOENIX will no longer make payments      that have been deducted from the scheduled payments on behalf of STEVEN D.      CRAIG for insurance premiums. All responsibility for continuing any such      insurance shall be STEVEN D. CRAIG’s sole responsibility and he will not      hold GOLDEN PHOENIX responsible for the cancellation of any such      insurance. If GOLDEN PHOENIX does not obtain the agreement of Third      Parties within ten (10) trading days after the termination of the      immediately preceding time period prescribed by this Agreement, or      subsequent extension, if necessary, and the “back salaries” have not been      applied to the exercise price of the options, the scheduled payments of      the “back salaries” shall resume beginning the sixth day of the month      following said ten (10) trading day period. In no event after the initial      suspension of the scheduled payments of the “back salaries” shall GOLDEN      PHOENIX be responsible for or required to resume making payments of any      insurance premiums on behalf of STEVEN D.CRAIG. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | g. | The      CRAIGS may exercise through escrow a portion, all or none of the options,      identified in paragraph 2.a., remaining after the retirement of the      balance of “back salaries” as described in paragraph 2.e. The CRAIGS'      election to exercise a portion, all or none of the remaining options must      be made prior to the deposit of monies into escrow by the Third Parties.      Monies used to exercise these options, in excess of the “back salaries,”      shall be held in escrow to be delivered to GOLDEN PHOENIX after completion      of the purchase by the ThirdParties. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | h. | The      Third Parties will purchase the entirety of shares resulting from the      options exercised as set forth in paragraphs 2.e. and 2.g, by first      placing into escrow monies sufficient to satisfy the purchase price of all      of the shares subject to the options exercised or elected to be exercised      as set forth in paragraphs 2.e. and 2.g, said purchase price to be      determined pursuant to paragraph 2.d. Monies deposited into escrow by the      Third Parties may be applied by the CRAIGS to the exercise price of the      remaining options pursuant to paragraph 2.g. After the Third Parties      deposit the aforementioned monies into escrow and any remaining options      that the CRAIGS choose to exercise pursuant to paragraph 2.g. are      exercised, the escrow holder shall deliver to the Third Parties all shares      resulting from the options exercised as set forth in paragraphs 2.e. and      2.g. Any of the remaining options not exercised pursuant to this Agreement      shall be immediately terminated. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | i. | At      the time the purchase by the Third Parties is completed and shares held in      escrow delivered to the Third Parties, the monies used to purchase these      shares shall be delivered from escrow to the Client Trust Account of David      J. Otto, counsel for the CRAIGS, less the following: (1) fifty percent      (50%) of the fees owed to the escrow holder, (2) any monies necessary to      exercise the options as set forth in paragraph 2.g. and, (3) any payroll      taxes required to be paid by GOLDEN PHOENIX pursuant to the use of the      “back salaries” and the exercise of the subject options, to be distributed      to the CRAIGS by Mr. Otto. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | j. | The      CRAIGS agree to assume all tax liabilities, including without limitation,      employer’s and employee’s payroll taxes and fees, i.e., employer’s and      employee’s share of F.I.C.A., State and Federal unemployment, withholding,      disability and any other applicable payroll taxes and fees, for the "back      salaries" credited and options exercised pursuant to this Agreement.      GOLDEN PHOENIX will identify amounts to be deducted pursuant to paragraph      2.i.(3). |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Release and Satisfaction of      the Claims. STEVEN D. CRAIG shall file a dismissal with prejudice      of the Complaint and GOLDEN PHOENIX will dismiss its Third-Party      Complaint. In exchange for the payments from escrow and conditions made      under Paragraph 2 above, the Parties, and each of them, for and on behalf      of themselves, their heirs, executors, administrators, successors,      predecessors, assigns, insurers, parents, attorneys, parent corporations,      subsidiaries, related entities, trustees, partners, shareholders,      officers, directors, agents, employees, and third party administrators,      hereby release and discharge each and every party to this Agreement,      including their respective heirs, executors, administrators, successors,      predecessors, assigns, insurers, parents attorneys, parent corporations,      subsidiaries, related entities, trustees, partners, shareholders,      officers, directors, agents, employees, and third party administrators,      from any and all claims, demands, causes of action, obligations, damages,      and liabilities of any kind and nature whatsoever, whether in law or in      equity, which either party ever had, now has, or may in the future have in      any way connected with the matters, Lawsuit and Claims described in this      Agreement, including without limitation, any and all claims for options,      back salaries, business expenses andinterest. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 4. | Tax      Liabilities.  The CRAIGS agree that they are wholly and      solely responsible for the evaluation of any legal or financial      obligations related to the tax liability or implication of this      compromise, the exchange and relinquishment of the Claims, and the      dismissal of the Lawsuit with the exception of those amounts of applicable      taxes and fees chargeable against GOLDEN PHOENIX or that must be      withheld by GOLDEN PHOENIX, in excess of those amounts identified to be      deducted from the monies to be delivered to the CRAIGS pursuant to      paragraph 2.i.(3). |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | Warranties.  The      Parties warrant that no promises or inducements have been offered except      as set forth herein, that this Agreement is executed without reliance upon      any statements or representations by persons or parties released or their      representatives concerning the nature and extent of the damages and/or      legal liability therefor; that it is binding on the Parties, as well as      their respective companies, organizations, successors, agents, heirs and      assigns.  The Parties further warrant that they are legally      competent and authorized to execute this Agreement, and that they accept      full responsibility therefor. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6. | Compromise.  This      Agreement constitutes a full and final compromise and settlement of any      and all disputes between the Parties known or unknown, including, but not      limited to, the Lawsuit and the Claims, which are disputed and uncertain,      and about which the CRAIGS and GOLDEN PHOENIX      make no admissions as to validity or  enforceability. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7. | Reliance on Own Judgment and      Legal Consultation.  Each of the Parties acknowledges      that it relies wholly upon advice of counsel and its own judgment, belief      and knowledge as to the nature, extent and duration of the issues, claims,      defenses, rights and obligations relating to the Lawsuit, Claims and this      Agreement, and each represents that it has not been influenced to any      extent whatsoever in making this Agreement by any representations or      statements concerning the Lawsuit and Claims or regarding any other      matters made by persons, firms, or corporations who are hereby released,      or by any person or persons representing them.  The Parties      acknowledge that they have retained and consulted their own attorneys in      executing this Agreement and the legal effect  thereof. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8. | Representations. The      CRAIGS and GOLDEN PHOENIX further represent and warrant as      follows: |
|--------|----|----------------------------------------------------------------------------------------------------|

|   | a. | Consents.  The      execution and delivery of this Agreement, and the consummation and      performance of the terms and conditions contemplated by this Agreement, do      not require any consent, approval or action of, or any filing with or      notice to any person, public authority or entity except as otherwise      stated in this Agreement and the Parties executing this Agreement are duly      authorized to enter into thisAgreement. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Enforceability.  Assuming      due execution and delivery of this Agreement by each Party, this Agreement      constitutes the valid and legally binding obligations of the Parties,      enforceable against the Parties in accordance with their      terms. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c. | No      Conflicts.  Neither the execution, delivery or      performance of this Agreement will conflict in any respect with, result in      a breach of, or constitute a default under, any court or administrative      order or process, judgment, decree, statute, law, ordinance, rule or      regulation or any agreement or commitment to which parties executing the      same are party or are subject or bound, except where such conflict, breach      or default would not have a material adverse effect on their ability to      perform their obligations contemplatedherein. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | d. | No      Assignment.  No claims, third-party claims, or rights of      the Parties purported to have been released herein have been sold,      transferred or assigned and no attempt to do so shall    occur. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | e. | Disclosure.  The      statements of the Parties contained herein are true and correct in all      material respects and do not omit any material fact necessary to make the      statements contained herein notmisleading. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | f. | Entire Agreement; No      Waiver.  This Agreement constitutes the entire agreement      between the Parties relating to the subject matter contained      herein.  No waiver of any of the provisions of this Agreement      shall be deemed a waiver of, nor shall constitute a waiver of any other      provision, whether or not similar, nor shall any waiver constitute a      continuing waiver. No supplement, modification or amendment of this      Agreement shall be binding unless executed in writing by all the      Parties. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | g. | Construction.  The      terms and conditions of this Agreement shall be construed as a whole      according to its fair meaning and not strictly for or against any      party.  The Parties acknowledge that each of them has reviewed      this Agreement and has had the opportunity to have them reviewed by their      attorneys and that any rule of construction to the effect that ambiguities      are to be resolved against the drafting party shall not apply in the      interpretation of this Agreement, including any amendments.  The      Parties further agree that prior drafts of this Agreement shall not be      relevant or considered in connection with the construction or      interpretation of this Agreement, or to vary, modify or contradict any of      the terms or provisions of thisAgreement. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | h. | Accord and      Satisfaction.  This Agreement shall be considered an      accord and satisfaction between the Parties and not a      novation.  Should any Party default under the terms of this      Agreement, the non-defaulting Party shall be entitled only to the rights      and remedies set forth herein, and shall not have any right to reinstate      the lawsuit, the Parties expressly acknowledging the compromise of the      disputes in this Agreement. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | i. | Notices.  Any      notice or other communication required or permitted to be delivered to any      party under this Agreement shall be in writing and shall be deemed      properly delivered, given and received when delivered (by hand, by      registered or certified mail, return receipt requested, by courier or      express delivery service) to the address or facsimile number set forth      beneath the name of such party and its counsel below (or to such other      address as such party shall have specified in a written notice given to      the other parties hereto).  In the event of failure of actual      receipt by reason of refusal of acceptance of delivery or change of      address and failure to give notice of such change, notice shall be deemed      received at the time of refusal of acceptance of first attempted      delivery. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| If      sent to STEVEN D. CRAIG AND THE ESTATE OF COLLETTE      CRATER-CRAIG: |   | STEVEN      D. CRAIG AND THE ESTATE OF COLLETTE CRATER-CRAIGC/o      David J. Otto1982      North Rainbow Blvd., #117Las      Vegas, NV 89108Tel:  (702)      577-9300Fax:      (702) 255-2858      |
|-------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                          |   |                                                                                                                                                                                                          |
| If      sent to GOLDEN PHOENIX:                                               |   | GOLDEN      PHOENIX Minerals, Inc.C/o      Tamara L. Boeck, Esq.Bullivant      Houser Bailey, P.C.1415      L. Street, Ste 1000Sacramento,      CA 95814Tel:      (916) 930-2500Fax:      (916) 930-2501 |

|   | j. | Partial      Invalidity.  If any term of this Agreement or the      application of any term of this Agreement should be held by a court of      competent jurisdiction to be invalid, void or unenforceable, all      provisions, covenants and conditions of this Agreement, and all of its      applications, not held invalid, void or unenforceable, shall continue in      full force and effect and shall not be affected, impaired or invalidated      in any way. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | k. | Attorneys’      Fees.  The parties to this Agreement shall bear their own      attorneys’ fees and costs incurred in this litigation, as well as on the      preparation of this Agreement.  In the event that any Party      commences an action to enforce or interpret this Agreement, or for any      other remedy based on or arising from this Agreement or the Accompanying      Exhibit, the prevailing Party therein shall be entitled to recover its      reasonable and necessary attorneys’ fees and costs      incurred.  For the purposes of this provision, the “prevailing party” shall      be that Party which has been successful with regard to the main issue,      even if that Party did not prevail on all  issues. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | l. | Necessary      Action.  Each of the Parties shall do any act or thing      necessary to execute any or all documents or instruments necessary or      proper to effectuate the provisions and intent of this      Agreement. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | m. | Governing Law and      Forum.  The laws of the State of Nevada, without giving      effect to choice of law or conflict of law principles, shall govern the      validity, construction, performance and effect of this      Agreement.  Any lawsuit to interpret or enforce the terms of      this Agreement shall be brought in a court of competent jurisdiction in      Washoe County, Nevada. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | n. | Counterparts and      Facsimile/copy.  This Agreement may be executed in      counterparts, in different locations, and copies, scans or facsimiles of      signatures shall be legally binding as  originals. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| GOLDEN      PHOENIX MINERALS, INC.   |   | STEVEN      D. CRAIG                                                       |
|--------------------------------------|--------|----------------------------------------------------------------------------|
|                                 |   |                                                                       |
|                                 |   |                                                                       |
| By:      /s/ David A.      Caldwell  |   |                                                                       |
| David      A. Caldwell               |   |                                                                       |
| Its:      Chief Financial Officer    |   | /s/ Steven D.      Craig                                                   |
|                                 |   |                                                                       |
|                                 |   |                                                                       |
|                                 |   | ESTATE      OF COLLETTE CRATER-CRAIG                                       |
|                                 |   |                                                                       |
|                                 |   |                                                                       |
|                                 |   |                                                                       |
|                                 |   | By:      /s/ Sonia M.      Merz                                            |
|                                 |   | Sonia      M. Merz                                                         |
|                                 |   | Its:      Successor Trustee                                                |
|                                 |   |                                                                       |
|                                 |   |                                                                       |
| APPROVED      AS TO FORM AND CONTENT |   | APPROVED      AS TO FORM AND CONTENT                                       |
|                                 |   |                                                                       |
| BULLIVANT      HOUSER BAILEY, PC     |   |                                                                       |
|                                 |   |                                                                       |
|                                 |   |                                                                       |
| By:      /s/ Tamara L.      Boeck    |   | By:      /s/ David J.      Otto                                            |
| Tamara      L. Boeck                 |   | David      J. Otto                                                         |
| 1415      L. Street, Ste 1000        |   | 1982      North Rainbow Blvd., #117                                        |
| Sacramento,      CA 95814       |   | Las      Vegas, NV 89108                                              |
| Attorney      for GOLDEN PHOENIX     |   | Attorney      for STEVEN D. CRAIG and the ESTATE OF COLLETTE  CRATER-CRAIG |

----