Toronto, Ontario, September 6, 2007 – Win-Eldrich Mines Limited (WEX, TSX Venture Exchange), minority owner of Ashdown Project LLC, which owns a Nevada-based molybdenum mine, announces that based on information provided and publicly disclosed by Golden Phoenix Minerals, Inc., the mine’s manager and majority owner, during the second quarter of 2007, the Ashdown Project LLC posted sales of molybdenum concentrates totaling US$4,466,395, which represents an increase of over US$3.6 million, or approximately 460%, from sales completed in the first quarter of 2007. Operating costs and expenses for the second quarter were US$2,276,789, compared to US$1,680,068 for the first quarter. The higher costs reflects an increase in staffing at the Project from approximately twelve to twenty-four miners and from nine to eighteen milling and support personnel, as well as other costs related to the ramp-up in production.

A total of 144,882 pounds of molybdenum (Mo) were sold in the second quarter at a cost of US$15.71 per pound as compared to 64,942 pounds at US$25.87 per pound during the first quarter. Golden Phoenix advises that these per-pound calculations represent fully loaded, total costs that include ore production, barren-rock development, general and administrative expenses, accretion, depreciation and amortization expenses.

While expenditures over the past six months exceeded initial budgeted amounts, Golden Phoenix advises that as the Project evolves from a focus on infrastructure development to concurrent mining of multiple stopes, an increase in the production and sale of concentrates, together with a decrease in the Project’s total cost per pound is expected. Until then, ongoing development work and equipment upgrades and repairs during the current third quarter are expected to reduce financial performance and the rate of expanded production in the third quarter, but should position the Project for sustainable full-production rates later in the year. The Project’s fleet of rolling stock has recently been expanded with the acquisition of a

second 10-ton haul truck and a third 2-yard mucker. These additions should allow for the rotation of equipment through a preventative maintenance program, which is designed to increase equipment life, availability and output.

The Project’s grinding circuit’s ball mill was taken off-line in early August to replace worn portions of the protective rubber plates that line the inside of the drum. Preventative maintenance items were moved forward and have been performed in preparation for anticipated sustained 24/7 operation once the custom fabricated replacement liner has been installed, which Golden Phoenix advises is scheduled to occur in the first part of September. This unplanned down-time has slowed the increase in the rate of production for the time period effected but has provided an opportunity to implement improvements to the flotation circuit, including design and construction of a system to re-process tailings in order to recover residual molybdenum from the impoundment pond.

Golden Phoenix advises that underground, both ore extraction and development work at Ashdown have continued throughout this period. Over 3600 tons of ore have been stockpiled in advance of the re-start of the ball mill anticipated in September. With the accumulation of a month’s worth of mill feed, underground crews are now focusing on upgrading the underground electrical systems, rehabilitating timber support where needed, fireproofing the portal entrance area, and advancing the construction of a secondary escape way. Excavation and stockpiling of ore continue in anticipation of sustained mill operation through the remainder of the year, once the ball mill is returned to service.

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 lookingstatements 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 a Director of Win-Eldrich, at
(402) 753-9134.