AUMN.TO · 2023-04-18 12:00:00

Golden Minerals Company Reports Q1 2023 Gold Production

Corporate Updates

GOLDEN, Colo.--(BUSINESS WIRE)--April 18, 2023--Golden Minerals Company (“Golden

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

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

three months ending March 31, 2023.

Rodeo Operations Statistics

Q1 2023

Tonnes mined (1) 154,371

Tonnes in stockpiles awaiting processing (2) 18,467

Tonnes in low grade stockpiles (3) 133,349

Tonnes processed 54,272

Average tonnes per day processed 603

Average gold grade processed (grams per tonne) 1.6

Average silver grade processed (grams per tonne) 9.0

Plant recovery - gold (%) 72.6

Plant recovery - silver (%) 75.5

Payable gold produced in dore (ounces) 2,081

Payable silver produced in dore (ounces) 11,535

Payable gold equivalent produced in dore (ounces) (4) 2,219

Gold sold in dore (ounces) 2,112

Silver sold in dore (ounces) 11,369

Gold equivalent sold in dore (ounces) (4) 2,248

Average realized price, before refining and selling costs

Gold (dollar per ounce) $ 1,891.24

Silver (dollar per ounce) $ 22.60

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 gold and silver producer based in Golden, Colorado. The Company is

primarily focused on producing gold and silver from its Rodeo Mine, advancing its Velardeña

and Yoquivo 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

Contacts

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

Golden Minerals Company

Karen Winkler, Director of Investor Relations

(303) 839-5060