Exhibit 99-1

For Immediate Release

Goldfield Records Strong Results for 2005

MELBOURNE, Florida, March 27, 2006 - The Goldfield Corporation (AMEX: GV), a leading provider of electrical construction services in the southeastern United States and a developer of condominiums, today announced strong results for the year ended December 31, 2005: 

• Revenue increased 20.4% to $39.3 million from $32.7 million in 2004.

• Operating income increased to $4.0 million from a $0.5 million loss in 2004.

• Net income rose to $2.3 million ($.09 per share) from a $0.4 million loss ($.01 loss per share) in 2004.

Results for the fourth quarter of 2005 mirrored the markedly improved yearly results. For the quarter ended December 31, 2005 (compared to like period in 2004): 

• Revenue increased 85% to $10.4 million from $5.6 million.

• Net income reached $0.9 million ($.03 per share) from a $0.7 million loss ($.03 loss per share).

Commenting on the 2005 results, John H. Sottile, president of Goldfield, said, “Our electrical construction and real estate development segments contributed equally to our strong bottom line.  Although electrical construction revenue remained unchanged, operating efficiencies produced improved profit margins, resulting in a more than three-fold increase in electrical construction operating income to $3.3 million from $0.8 in 2004.  Revenue from real estate development more than doubled to $10.6 million from $3.9 million in 2004 and produced a more than three-fold increase in operating income to $3.3 million from $0.8 million in 2004.  Real estate development benefited from the substantial completion of our successful 40-unit Oak Park condominium project.

Looking ahead to 2006, Mr. Sottile commented, “We start 2006 on a very solid footing.  At January 31, our electrical construction backlog had increased over four-fold to $24 million from $5.8 million at the same point in 2005 and our real estate segment’s backlog had almost doubled to approximately $16.9 million from $8.4 million at the same point last year.  The first phase of our new Pineapple House project is now under construction, with binding sales contracts for approximately two-thirds of the units.  We expect to start recognizing revenue from this project during the first quarter of this year.”

About Goldfield
Goldfield is a leading provider of electrical construction and maintenance services in the energy infrastructure industry in the southeastern United States. The company specializes in installing and maintaining electrical transmission lines for a wide range of electric utilities. Goldfield is also involved in the development of high-end condominium projects on Florida’s east coast.

Statements in this release are based on current expectations. These statements are forward-looking, and actual results may differ materially. For further details, see the company’s filings with the Securities and Exchange Commission.

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Further Information
Investors:
The Goldfield Corporation, 321-724-1700 or investorrelations@goldfieldcorp.com

THE GOLDFIELD CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

	Three Months Ended December 31						Twelve Months Ended December 31
		2005			2004			2005			2004
Revenue
Electrical construction	$	8,619,746		$	5,602,879		$	28,780,681		$	28,823,061
Real estate development		1,766,301			—			10,563,404			3,864,835
Total revenue		10,386,047			5,602,879			39,344,085			32,687,896
Costs and expenses
Electrical construction		6,367,732			5,506,045			22,990,605			25,812,330
Real estate development		1,130,107			60,809			6,364,280			2,819,506
Depreciation and amortization		556,796			599,449			2,360,656			2,140,724
Selling, general and administrative		775,284			437,007			3,603,091			2,376,134
Provision for doubtful accounts		—			—			23,542			—
Other general expenses		13,123			5,955			25,351			4,903
Total costs and expenses		8,843,042			6,609,265			35,367,525			33,153,597
Total operating income (loss)		1,543,005			(1,006,386	)		3,976,560			(465,701	)
Other income (expenses), net
Interest income		27,288			31,310			104,642			91,535
Interest expense, net		(42,812	)		(32,914	)		(141,032	)		(72,435	)
Other income, net		12,724			26,319			20,460			76,275
Total other income (expenses), net		(2,800	)		24,715			(15,930	)		95,375
Income (loss) from continuing operations before income taxes		1,540,205			(981,671	)		3,960,630			(370,326	)
Income taxes, (benefit)		627,525			(383,562	)		1,582,121			(80,558	)
Income (loss) from continuing operations		912,680			(598,109	)		2,378,509			(289,768	)
Loss from discontinued operations		(31,403	)		(86,109	)		(56,222	)		(98,006	)
Net income (loss)	$	881,277		$	(684,218	)	$	2,322,287		$	(387,774	)
Earnings per share of common stock - basic and diluted
Continuing operations	$	0.04		$	(0.02	)	$	0.09		$	(0.01	)
Discontinued operations		—			—			—			—
Net income (loss)	$	0.03		$	(0.03	)	$	0.09		$	(0.01	)
Weighted average common shares and equivalents used in the calculations of earnings per share
Basic		25,536,322			26,149,668			25,642,528			26,250,350
Diluted		25,563,929			26,149,668			25,677,518			26,250,350