Update on Ashdown mine development and molybdenum production



    TORONTO, Sept. 6 /CNW/ - 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
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:

For further information: Perry Muller, President and a Director of
Win-Eldrich, at (402) 753-9134

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WIN-ELDRICH MINES LIMITED

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