AUMN.TO · 2022-07-14 12:00:00

Golden Minerals Company Produces 3,004 oz Gold During Q2 2022

Production Results

GOLDEN, Colo.--(BUSINESS WIRE)--July 14, 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

second quarter of 2022. Summary highlights include the following:

 Payable gold production: 3,004 oz Au

 Payable silver production: 12,768 oz Ag

 Payable gold equivalent production: 3,158 AuEq oz

 Average gold grade: 2.6 g/t Au

 Throughput (tonnes per day processed): 522 tpd

 Gold recovery: 75.1%

 Silver recovery: 82.3%

 Realized gold/silver prices (before selling and refining costs): $1,865/oz Au and

$22.49/oz Ag

Full production data is shown in the table below:

Three Months

Ended

March 31, 2022

Three Months

Ended

June 30, 2022

Six Months

Ended

June 30, 2022

Total tonnes mined (1) 203,591 213,925 417,516

Total tonnes in stockpiles awaiting processing (2) 10,898 21,713 21,713

Total tonnes in low grade stockpiles (3) 88,559 95,932 95,932

Tonnes processed 47,437 47,479 94,916

Average tonnes per day processed 527 522 524

Average gold grade processed (grams per tonne) 3.1 2.6 2.9

Average silver grade processed (grams per tonne) 11.6 10.4 11.0

Plant recovery - gold (%) 75.4 75.1 75.3

Plant recovery - silver (%) 82.8 82.3 82.6

Payable gold produced in dore (ounces) 3,608 3,004 6,612

Payable silver produced in dore (ounces) 13,944 12,768 26,712

Payable gold equivalent produced in dore (ounces) (4) 3,787 3,158 6,945

Gold sold in dore (ounces) 3,855 3,060 6,915

Silver sold in dore (ounces) 14,481 13,180 27,661

Gold equivalent sold in dore (ounces) (4) 4,040 3,219 7,260

Average realized price, before refining and selling costs

Gold (dollar per ounce) $1,888 $1,865 $1,878

Silver (dollar per ounce) $24.24 $22.49 $23.40

(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 cut off 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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