AUMN.TO · 2022-10-17 12:00:00

Golden Minerals Company Announces Q3 2022 Gold Production

Corporate Updates

GOLDEN, Colo.--(BUSINESS WIRE)--October 17, 2022--Golden Minerals Company (“Golden

Minerals”, “Golden” or the “Company”) (NYSE American: AUMN and TSX: AUMN) has

reported production data from its Rodeo gold-silver mine (Durango State, Mexico) for the third

quarter of 2022. Summary highlights include the following:

 Payable gold production: 2,972 oz Au

 Payable silver production: 11,907 oz Ag

 Payable gold equivalent production: 3,103 AuEq oz

 Average gold grade: 2.6 g/t Au

 Throughput (tonnes per day processed): 521 tpd

 Gold recovery: 74.6%

 Silver recovery: 77.6%

 Realized gold/silver prices (before selling and refining costs): $1,703/oz Au and

$18.72/oz Ag

2022 year-to-date production data is shown in the table below.

Rodeo Operations Statistics

Three Months

Ended March

31,

2022

Three Months

Ended June

30,

2022

Three Months

Ended Sept.

30,

2022

Nine Months

Ended Sept.

30,

2022

Tonnes mined (1) 203,591 213,925 192,545 610,061

Tonnes in stockpiles awaiting processing (2) 10,898 21,713 23,618 23,618

Tonnes in low grade stockpiles (3) 88,559 95,932 121,202 121,202

Tonnes processed 47,437 47,479 47,947 142,863

Average tonnes per day processed 527 522 521 523

Average gold grade processed (grams per

tonne) 3.1 2.6 2.6 2.8

Average silver grade processed (grams per

tonne) 11.6 10.4 10.4 10.8

Plant recovery - gold (%) 75.4 75.1 74.6 75.1

Plant recovery - silver (%) 82.8 82.3 77.6 81.0

Payable gold produced in dore (ounces) 3,608 3,004 2,972 9,584

Payable silver produced in dore (ounces) 13,944 12,768 11,907 38,619

Payable gold equivalent produced in dore

(ounces) (4) 3,787 3,158 3,103 10,050

Gold sold in dore (ounces) 3,855 3,060 3,018 9,933

Silver sold in dore (ounces) 14,481 13,180 11,609 39,269

Gold equivalent sold in dore (ounces) (4) 4,040 3,219 3,145 10,405

Average realized price, before refining and

selling costs

Gold (dollar per ounce) $ 1,887.65 $ 1,864.99 $ 1,703.10 $ 1,824.60

Silver (dollar per ounce) $ 24.24 $ 22.49 $ 18.72 $ 22.02

Notes:

(1) Includes all mined material transported to the plant, stockpiled or designated as waste

(2) Includes mined material stockpiled at the mine or transported to the plant awaiting processing in the plant

(3) Material grading between 1.6 g/t (current cutoff grade) and 1 g/t Au held for possible future processing

(4) Gold equivalents based on realized $ Au and $ Ag price

About Golden Minerals

Golden Minerals is a growing gold and silver producer based in Golden, Colorado. The

Company is primarily focused on producing gold and silver from its Rodeo Mine and advancing

its Velardeña Properties in Mexico and, through partner funded exploration, its El Quevar silver

property in Argentina, as well as acquiring and advancing selected mining properties in Mexico,

Nevada and Argentina.

https://twitter.com/Golden_Minerals

For additional information please visit http://www.goldenminerals.com/.

Contacts

Golden Minerals Company

Karen Winkler, Director of Investor Relations

(303) 839-5060

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