Toronto, Ontario, October 5, 2007 – Win-Eldrich Mines Limited (WEX, TSX Venture Exchange), minority owner of Ashdown Project LLC, which owns a Nevada-based molybdenum mine, announces that the replacement of new liners and lifters in Ashdown’s 100-ton ball mill has been completed and regular grinding and flotation operations have resumed at the Ashdown mine. Golden Phoenix Minerals Inc., the mine’s manager and majority owner, has advised that the replacement was completed on September 7, 2007, on schedule and within budget, and that the ball mill is now operating at full capacity.

During the 4-week period that the liners and lifters were being fabricated and installed, the mill staff continued production of concentrates by re-processing molybdenite contained in tailings stored in the impoundment pond. With the return to service of the ball mill in September, the grinding of new ore has resumed and routine milling operations have been fully restored.

Crews continue the systematic upgrade of a number of components in the mill circuit in order to minimize unscheduled maintenance in the future. This work is expected to be substantially complete by the end of October, clearing the way for optimization of recovery and grade through full-scale stope mining, which Golden Phoenix advises is planned to begin early next year.

Kent Aveson, an experienced mining professional, has been appointed General Manager of Ashdown Project LLC. In this position, Mr. Aveson is charged with bringing the Ashdown mine through its final phases of start-up and into full-scale production. Mr. Aveson will be leaving his post as Director of Continuous Improvement at Barrick Gold and assume his responsibilities at Ashdown beginning October 15, 2007. Trained as a geological engineer, Mr. Aveson is a veteran mine manager with 33 years of experience throughout the industry including in operations, project management, engineering, permitting, start ups and reclamation. At Barrick, Mr. Aveson worked in support of mine operations to problem solve, plan, develop and train improvement teams by which to deliver significant annual cost savings. Mr. Aveson has also held positions as general foreman, mine superintendent and manager of mines for large scale operations in Colorado, Ohio and New Mexico. He is a former member of the board of directors of the New Mexico State Mining Association and has managed engineering departments and special projects. Mr. Aveson is a two-time recipient of MSHA’s top Sentinels of Safety Award and a four-time winner of the New Mexico Operator of the Year Award. Mr. Aveson earned his B.Sc., Geological Engineering, from the University of Utah.

Ashdown Project LLC has also appointed Fred Quimby to the position of Mine Manager. Mr. Quimby is a 40-year mining professional with a proven record of success. His employment history includes mining and management roles at Sunshine, Bunker Hill, Harrison Western, Todito Exploration, Centennial, Redpath and Atlas Minerals. He has specialized in all aspects of underground mining, including heavy equipment operation, drilling and blasting, mine planning, staffing, supervision and business development. Most recently, Mr. Quimby was General Manager of a private sector contract mining company. A native of the Kellogg, Idaho mining district, Mr. Quimby studied mining at the Colorado School of Mines and is a certified Federal Mine Safety Instructor. Mr. Quimby replaces Earl Harrison, who has left Ashdown to pursue other interests. Earl’s contributions to Ashdown are much appreciated and Win-Eldrich management wish to thank Earl for his efforts and wish him every success in the future.

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