Golden Phoenix Minerals Inc. announced that it has entered into a non-binding $20 million term sheet with Maximilian Investors LLC for the anticipated purpose of debt repayment and simultaneous advancement of company projects. The term of the facility is for up to 24 months and is expected to advance its exploration, development and production at mineral properties in North, South and Central America. The Term Sheet entered into between the company and Maximilian does not contain all the proposed terms and conditions of this transaction. Final terms will be set forth in detail in the definitive closing documentation. Although the company anticipates that the facility with Maximilian will be finalized in the near term, there can be no guarantee that a closing will occur in a timely manner or at all.