Golden Minerals Announces NYSE American Notice to Commence Delisting and Intended Transition to OTCQB Market

012345ÿ785492ÿ55154ÿÿ4985ÿ184ÿ1ÿ1454ÿ42885ÿ53ÿ545343

958815ÿ1ÿÿ7 94

 !"#$ÿ&'(')**+,-./#"..ÿ0/1"2**!3435637ÿ8$ÿ9:9;**'(<3=ÿ>?=37@(Aÿ&'5B@=Cÿ+D'(<3=ÿ>?=37@(A$E

D'(<3=Eÿ'7ÿFG3ÿD&'5B@=CE2ÿ+#H."*IJÿI->#ÿ@=<ÿK.LJÿI->#2ÿF'<@Cÿ@=='M=43<ÿFG@Fÿ?FÿG@Aÿ7343?N3<

='F?O?4@F?'=ÿO7'5ÿFG3ÿ#H."ÿI537?4@=ÿ &ÿ+FG3ÿD#H."ÿI537?4@=Eÿ'7ÿFG3ÿD"P4G@=Q3E2ÿFG@FÿFG3ÿ"P4G@=Q3

<3F375?=3<ÿF'ÿ4'553=43ÿB7'433<?=QAÿF'ÿAMAB3=<ÿ@=<ÿ<3(?AFÿFG3ÿ&'5B@=CRAÿ4'55'=ÿAF'4Sÿ@Aÿ@ÿ73AM(Fÿ'Oÿ?FA

<3F375?=@F?'=ÿFG@FÿFG3ÿ&'5B@=Cÿ?Aÿ='ÿ('=Q37ÿAM?F@6(3ÿO'7ÿ(?AF?=Qÿ<M3ÿF'ÿ?FAÿ='=*4'5B(?@=43ÿT?FGÿ.34F?'=AÿU::V+@2

+?2$ÿU::V+@2+??2ÿ@=<ÿU::V+@2+???2ÿ'OÿFG3ÿ#H."ÿI537?4@=ÿ&'5B@=CÿM?<3$ÿTG?4Gÿ73WM?73ÿFG3ÿ&'5B@=CÿF'ÿ73B'7F

AF'4SG'(<37ARÿ3WM?FCÿ'OÿX8):ÿ5?((?'=ÿ'7ÿ5'73ÿ?OÿFG3ÿ&'5B@=CÿG@Aÿ73B'7F3<ÿ('AA3AÿO7'5ÿ4'=F?=M?=Qÿ'B37@F?'=A

@=<Y'7ÿ=3Fÿ('AA3Aÿ?=ÿ?FAÿO?N3ÿ5'AFÿ7343=FÿO?A4@(ÿC3@7A$ÿ@AÿB73N?'MA(Cÿ73B'7F3<)

KG3ÿ&'5B@=Cÿ@=F?4?B@F3AÿFG@FÿFG3ÿ&'55'=ÿ.F'4SÿT?((ÿ63Q?=ÿF7@<?=Qÿ'=ÿFG3ÿK&ÿZ?=Sÿ>@7S3FÿM=<37ÿFG3ÿAC56'(

DI->#Eÿ@FÿFG3ÿ'B3=ÿ'Oÿ6MA?=3AAÿ'=ÿ!3435637ÿU8$ÿ9:9;)ÿ.G@73G'(<37Aÿ<'ÿ='Fÿ=33<ÿF'ÿF@S3ÿ@=Cÿ@4F?'=ÿ?=

4'==34F?'=ÿT?FGÿFG?AÿF7@=A?F?'=)ÿKG3ÿ&'5B@=CRAÿAF'4SÿT?((ÿ4'=F?=M3ÿF'ÿ63ÿF7@<3<ÿO?7AFÿ'=ÿFG3ÿ#H."ÿI537?4@=ÿ@=<

?553<?@F3(CÿFG373@OF37ÿ'=ÿFG3ÿK&ÿZ?=Sÿ>@7S3F$ÿ@=<ÿ?=N3AF'7AÿAG'M(<ÿ63ÿ@6(3ÿF'ÿF7@<3ÿAG@73AÿFG7'MQGÿFG3?7

3P?AF?=Qÿ67'S37@Q3ÿ@44'M=FA)

KG3ÿ&'5B@=Cÿ?Aÿ?=ÿFG3ÿB7'43AAÿ'Oÿ@BB(C?=QÿO'7ÿWM'F@F?'=ÿ'Oÿ?FAÿ4'55'=ÿAF'4Sÿ'=ÿFG3ÿK&[,\ÿ]3=FM73ÿ>@7S3F)

KG3ÿF7@=A?F?'=ÿ'OÿFG3ÿ&'5B@=CRAÿ4'55'=ÿAF'4SÿF'ÿFG3ÿK&ÿ>@7S3FAÿT?((ÿG@N3ÿ='ÿ3OO34Fÿ'=ÿFG3ÿ&'5B@=CRA

6MA?=3AAÿ'7ÿ'B37@F?'=Aÿ'7ÿ?FAÿ(?AF?=Qÿ'=ÿFG3ÿK'7'=F'ÿ.F'4Sÿ"P4G@=Q3$ÿTG373ÿ?FÿF7@<3AÿM=<37ÿF?4S37ÿAC56'(

DI->#)EÿKG3ÿ&'5B@=Cÿ3PB34FAÿF'ÿ4'=F?=M3ÿF'ÿ5@?=F@?=ÿ4'5B(?@=43ÿT?FGÿFG3ÿ73B'7F?=Qÿ73WM?7353=FAÿ'OÿFG3

.34M7?F?3AÿI4Fÿ'OÿU^V;$ÿ@AÿI53=<3<$ÿ?=4(M<?=QÿFG3ÿO?(?=Qÿ'OÿB37?'<?4ÿ73B'7FAÿT?FGÿFG3ÿ."&ÿM=<37ÿ@BB(?4@6(3

O3<37@(ÿA34M7?F?3Aÿ(@TAÿFG@Fÿ@73ÿ@N@?(@6(3ÿ'=ÿFG3ÿ."&RAÿT36A?F3ÿ@FÿTTT)."&)Q'N)

_19` 93ab1185ÿ445

KG?AÿB73AAÿ73(3@A3ÿ4'=F@?=AÿO'7T@7<*(''S?=QÿAF@F353=FAÿT?FG?=ÿFG3ÿ53@=?=Qÿ'Oÿ.34F?'=ÿ9cIÿ'OÿFG3ÿ.34M7?F?3AÿI4F

'OÿU^VV$ÿ@Aÿ@53=<3<$ÿ@=<ÿ.34F?'=ÿ9U"ÿ'OÿFG3ÿ.34M7?F?3Aÿ"P4G@=Q3ÿI4Fÿ'OÿU^V;$ÿ@Aÿ@53=<3<$ÿ@=<ÿ@BB(?4@6(3

&@=@<?@=ÿA34M7?F?3Aÿ(3Q?A(@F?'=$ÿAM4Gÿ@AÿAF@F353=FAÿ73Q@7<?=Qÿ+?2ÿF?5?=Qÿ'OÿFG3ÿ#H."ÿI537?4@=RAÿ<3(?AF?=Qÿ@=<

@BB3@(ÿB7'43<M73Adÿ+??2ÿFG3ÿF?5?=Qÿ'OÿFG3ÿ&'5B@=CRAÿF7@=A?F?'=ÿF'ÿFG3ÿK&ÿZ?=Sÿ>@7S3FAdÿ+???2ÿ73AM(FAÿ'OÿFG3

&'5B@=CRAÿ@BB(?4@F?'=ÿO'7ÿWM'F@F?'=ÿ'=ÿFG3ÿK&[,dÿ@=<ÿ+?N2ÿFG3ÿ&'5B@=CRAÿ4'=F?=M@(ÿ4'5B(?@=43ÿT?FG

@BB(?4@6(3ÿ."&ÿ73B'7F?=Qÿ73WM?7353=FA)ÿKG3A3ÿAF@F353=FAÿ@73ÿAM6e34FÿF'ÿ7?ASAÿ@=<ÿM=437F@?=F?3A$ÿ?=4(M<?=Q

TG3FG37ÿFG3ÿ&'5B@=CÿT?((ÿ533FÿFG3ÿ3(?Q?6?(?FCÿ73WM?7353=FAÿO'7ÿWM'F@F?'=ÿ'=ÿFG3ÿK&[,dÿFG3ÿ?=@6?(?FCÿ'OÿFG3

&'5B@=CÿF'ÿ'6F@?=ÿAMOO?4?3=Fÿ4@B?F@(ÿF'ÿ533Fÿ?FAÿ'6(?Q@F?'=Adÿ?=473@A3Aÿ?=ÿ4'AFAÿ@=<ÿ<34(?=3Aÿ?=ÿQ3=37@(ÿ34'='5?4

4'=<?F?'=Adÿ4G@=Q3Aÿ?=ÿB'(?F?4@(ÿ4'=<?F?'=A$ÿ?=ÿF@P$ÿ7'C@(FC$ÿ3=N?7'=53=F@(ÿ@=<ÿ'FG37ÿ(@TAÿ?=ÿFG3ÿ-=?F3<ÿ.F@F3A$

>3P?4'ÿ'7ÿI7Q3=F?=@ÿ@=<ÿ'FG37ÿ5@7S3Fÿ4'=<?F?'=Adÿ@=<ÿO(M4FM@F?'=Aÿ?=ÿA?(N37ÿ@=<ÿQ'(<ÿB7?43A)ÿ'(<3=ÿ>?=37@(A

@AAM53Aÿ='ÿ'6(?Q@F?'=ÿF'ÿMB<@F3ÿFG?Aÿ?=O'75@F?'=)ÿI<<?F?'=@(ÿ7?ASAÿ73(@F?=QÿF'ÿ'(<3=ÿ>?=37@(Aÿ5@Cÿ63ÿO'M=<ÿ?=

FG3ÿB37?'<?4ÿ@=<ÿ4M773=Fÿ73B'7FAÿO?(3<ÿT?FGÿFG3ÿ.34M7?F?3Aÿfÿ"P4G@=Q3ÿ&'55?AA?'=ÿ6Cÿ'(<3=ÿ>?=37@(A$

?=4(M<?=QÿFG3ÿ&'5B@=CRAÿI==M@(ÿ13B'7Fÿ'=ÿg'75ÿU:*hÿO'7ÿFG3ÿC3@7ÿ3=<3<ÿ!3435637ÿVU$ÿ9:9V)

g'(('TÿMAÿ@FÿTTT)(?=S3<?=)4'5Y4'5B@=CYQ'(<3=*5?=37@(A*4'5B@=CYÿ@=<ÿGFFBAJYYFT?FF37)4'5Y'(<3=i>?=37@(A)

g'7ÿ@<<?F?'=@(ÿ?=O'75@F?'=$ÿB(3@A3ÿN?A?FÿGFFBJYYTTT)Q'(<3=5?=37@(A)4'5Y)

15

'(<3=ÿ>?=37@(Aÿ&'5B@=C

+V:V2ÿjV^*k:8: