0001001277-06-000276 Sample Contracts

Recorded at the request of and return to: Mr. G. Arnold Armstrong Enexco International Inc.
Quitclaim Deed • July 7th, 2006 • Golden Phoenix Minerals Inc /Mn/ • Metal mining
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TERMINATION AGREEMENT
Termination Agreement • July 7th, 2006 • Golden Phoenix Minerals Inc /Mn/ • Metal mining

THIS TERMINATION AGREEMENT (“Agreement”) is made this 27th day of June, 2006 by and between INTERNATIONAL ENEXCO LTD., a British Columbia corporation (“Enexco”); and GOLDEN PHOENIX MINERALS, INC., a Minnesota corporation (“Golden Phoenix”).

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