AUMN.TO · 2023-12-05 12:00:00

Golden Minerals Completes Sale of Santa Maria Gold-Silver Property

Mergers & Acquisitions

GOLDEN, Co.--(BUSINESS WIRE)--December 5, 2023--Golden Minerals Company (“Golden

Minerals,” “Golden” or the “Company”) (NYSE-A: AUMN and TSX: AUMN) is pleased to

announce that on December 1, 2023, it completed the previously-announced sale of its interests

in the Santa Maria gold-silver property located in Chihuahua State, Mexico to Transformaciones

y Servicios Metalurgicos S.A. DE C.V. (“TSM”).

Upon closing, the Company has received (all figures in USD) $1.50 million plus $0.24 million in

Value Added Tax (“VAT”). The Company is permitted to keep the VAT and use it to offset its

current VAT receivable.

In addition, sales terms include:

 TSM has granted Golden a 1.5% net smelter return (“NSR”) royalty on the Santa Maria

concession, capped at $1 million.

 TSM may purchase from Golden the right to receive the NSR royalty for $0.5 million at

any time prior to TSM beginning commercial production at Santa Maria.

About Golden Minerals

Golden Minerals is a gold and silver mining company based in Golden, Colorado. The Company

is primarily focused on resuming production at its Velardeña Properties and advancing its

Yoquivo property in Mexico, and, through partner-funded exploration, advancing its El Quevar

silver property in Argentina. The Company is also focused on acquiring and advancing selected

mining properties in Mexico, Nevada and Argentina.

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

Contacts

Golden Minerals Company

Karen Winkler, Director of Investor Relations

(303) 839-5060