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                      Exchange Act of 1934 (Amendment No. )

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                            THE GOLDFIELD CORPORATION
                (Name of Registrant as Specified In Its Charter)

    (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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                            The Goldfield Corporation
                           100 Rialto Place, Suite 500
                            Melbourne, Florida 32901

NEWS RELEASE                                   FOR IMMEDIATE RELEASE

                                                 For further information, call:
                                                 John Sottile
                                                 The Goldfield Corporation
                                                 (321) 724-1700


                          VOTE FOR GOLDFIELD NOMINEES.

                          Finds performance exemplary.

MELBOURNE, Fla.--June 12, 2001--The Goldfield Corporation (AMEX: GV, today announced that Institutional Shareholder Services
(ISS) recommended that Goldfield shareholders vote FOR management's slate of
director nominees at the Company's Annual Meeting, scheduled to be held on June
19, 2001, rather than the dissident nominees proposed by an internet shareholder

ISS is widely recognized as the nation's leading independent proxy advisory
firm. Their recommendations are relied upon by institutional investors, mutual
funds, and other fiduciaries.

In reaching its decision to recommend that Goldfield shareholders vote FOR the
six nominees on Goldfield's slate, ISS noted in its report that: "The company's
operational and stock performance have been exemplary, especially for a
micro-cap company. Management has implemented a specific long-term strategy for
the company to improve shareholder value." The report concluded that "it would
be in the best interests of all shareholders for the company to 'stay the

John Sottile, President of Goldfield, said that "the ISS report was a
comprehensive and accurate analysis of Goldfield which impartially answered all
significant questions raised by the dissidents."

Although ISS recognized that appropriate safeguards can offset the need for
cumulative voting, ISS concluded that it was not necessary to remove existing
cumulative voting provisions.


Goldfield is engaged in electrical construction operations, mining and real
estate. Electrical construction includes the construction and maintenance of
electric power lines and fiber optic communication systems. Mining operations
include the mining of industrial minerals and construction aggregates.

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