0001001277-07-000043 Sample Contracts

STOCK OPTION AGREEMENT
Stock Option Agreement • January 8th, 2007 • Golden Phoenix Minerals Inc /Mn/ • Metal mining • Nevada

This Stock Option Agreement is made by and between Golden Phoenix Minerals, Inc., a Minnesota corporation (the “Company”) and Dennis F. Gauger (the “Participant”), as of December 18, 2006 (the “Agreement”).

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