TORONTO, Jan. 4 /CNW/ - Win-Eldrich Mines Limited (TSXV - WEX), a mining exploration and development company, announces that it has been advised by Golden Phoenix Minerals, Inc. of the sale of the first consignment of molybdenite concentrates produced at the Ashdown mine and mill located in Humboldt County, Nevada. The mine is owned by Ashdown Project LLC, a Nevada company owned jointly by Win-Eldrich's wholly-owned subsidiary, Win-Eldrich Gold, Inc. and by Golden Phoenix. Golden Phoenix acts as interim operator under contract to the LLC.

The sale of more than 14,000 pounds of concentrates was completed with Derek Raphael and Company of London, England for proceeds of approximately US$175,000. Under the terms of the sale agreement, 90% of the proceeds have been paid to Ashdown Project LLC with the balance to be paid when all final weights, assays and prices are known.

The sale confirms Ashdown as the world's newest molybdenum mine to commence operation and commences the next phase of development during which output from the mine and throughput at the mill are intended to be increased from the current 30-ton per day average mine output to 100-ton per day capacity. As part of that effort, Golden Phoenix advises that underground crews are driving drift on a second series of raises, stopes and working faces. It is intended that mill efficiency will be enhanced as increased output from the mine develops. The mill which had been closed for the holidays has resumed operation following installation of an upgraded gear drive for the primary belt feeder.

Golden Phoenix has also advised of its intent to dilute Win-Eldrich Gold's interest in Ashdown Project, LLC from 40% to 30.5% pursuant to an alleged default by Win-Eldrich Gold in making a payment which Golden Phoenix alleges is in the amount of US $309,391. Win-Eldrich disagrees with Golden Phoenix's allegation that Win-Eldrich Gold is in default under the agreements governing the LLC and disagrees with the amount claimed by Golden Phoenix. While optimistic that the matter will be resolved by the parties, Win-Eldrich intends to vigorously oppose any attempt to dilute its interest in Ashdown Project, LLC.

This news release includes certain forward-looking statements within the meaning of applicable securities laws concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, including the uncertainty of resource and reserve estimates, operational and technical difficulties, fluctuating commodity prices, competitive risks, the availability of financing and compliance with applicable laws, including obtaining requisite permits, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For further information: Perry Muller, President and Director of Win-Eldrich, at (402) 753-9134.