Golden Minerals Discovers Additional High-Grade Veins at Santa Maria Results up to 1.88 G/T Au and 648 G/T AG
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G O L D E N M I N E R A L S C O M P A N Y
350 Indiana Street – Suite 800 – Golden, Colorado 80401 – Telephone (303) 839-5060 – Fax (303) 839-5907
4482972.2
GOLDEN MINERALS DISCOVERS ADDITIONAL HIGH-GRADE VEINS AT SANTA MARIA
RESULTS UP TO 1.88 g/t Au and 648 g/t Ag
Golden, Colorado - /Globe Newswire/– July 12, 2018 – Golden Minerals Company (NYSE American and TSX:
AUMN) (“Golden Minerals”, “Golden” or “the Company”) is pleased to announce that surface mapping and
sampling have identified the eastern extension to the Santa Maria vein system and discovered
additional high -grade veins on the adjacent Cervantes property that was acquired by Golden Minerals in
August 2017 .
The veins were discovered during a project -wide mapping and sampling program conducted during 2017 and
2018 in which a total of 542 samples were collected, and this program has identified several high -grade silver-
gold and base metal veins located outside of the current resource area as defined in the March 30, 2017
Preliminary Economic Assessment (“PEA”) and NI 43 -101 Technical Report ( full report availabl e on the Golden
Minerals website at www.goldenminerals.com). The results from the surface sampling pr ogram are summarized
in Table 1, with surface sample results shown in Figures 2 and 3 below.
Figure 1: Santa Maria property and mapped veins.
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G O L D E N M I N E R A L S C O M P A N Y
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Mapping identified the eastern continuation of the Santa Maria veins 600 meters along strike from previous
drilling (link). Surface samples have returned assays up to 0.57 g/t Au, 347 g/t Ag, and 1.2% Zn. The vein occurs as a
series of quartz-calcite veins with widths of up to 4.75 meters. The Company is hopeful that additional high -grade
shoots could be found along the eastern continuation of the Santa Maria vein.
A new vein, the North v ein, was discovered 400 meters to the northeast of the current resource. It occurs as a
banded epithermal quartz-calcite vein up to 2.2 meters in width. It has been mapped for a 300 -meter strike length,
and a total of 38 samples were collected. Initial results returned assays of up to 3.01 g/t Au, 196 g/t Ag, 0.4% Pb
and 1.08% Zn, which indicate potential for this vein to host high -grade mineralization.
A set of quartz -calcite epithermal veins was found approximately 800 meters east of the current resource area.
This vein system (the Cervantes system) consist s of multiple north/northwest striking quartz veins that have been
mapped and sampled for a 700 -meter strike length and have returned assays of up to 1.58 g/t Au, 207 g/t Ag,
0.24% Cu, 5.6% Pb and 19.5% Zn over widths up to 1.3 meters.
"The promising initial results from our systematic exploration program ha ve led to the discovery of several
previously unknown veins which have returned high-grade silver-gold and base metal mineralization ,” stated
Warren Rehn , President and C hief Executive Officer of Golden Minerals, “ and we believe additional high -grade
mineralization may well be discovered at Santa Maria. I want to emphasize that Golden Minerals is a debt -free and
well-funded company intent on advancing our projects in Mexico and Argentina. In addition to the forthcoming
PEA update for Santa Maria, we expect to issue a positive PEA on El Quevar within the next few months. ”
Table 1: Selected results from the 2018 Santa Maria surface sampling program.
Sample ID Vein Width
(m)
Au g/t Ag g/t Cu ppm Pb ppm Zn ppm
129726 Cervantes 0.35 0.96 124 1300 37400 21700
129727 Cervantes 0.42 1.01 185 2300 56300 195200
129728 Cervantes 0.43 0.34 105 900 28400 31500
SM-651 Cervantes 0.58 1.58 130 1100 38400 12500
SMS-17 Cervantes 0.99 0.57 134 2400 32700 3500
129327 Santa Maria Dos 1.4 0.31 55 100 3500 32900
SMS-93 Santa Maria Dos 0.8 0.63 349 100 800 1900
SMS-93 Santa Maria Dos 1.4 0.46 404 100 100 1400
SMS-94 Santa Maria 1.3 1.88 648 500 5000 2700
SMS-95 Santa Maria Dos 0.6 0.91 252 200 2400 1300
SMS-29 Santa Maria 1.85 0.57 111 100 200 200
SMS-30 Santa Maria 2.95 0.12 57 0 300 11900
SMS-33 Santa Maria 1.3 0.26 347 100 1400 1000
SMS-80 Santa Maria 1.1 4.09 89 400 6400 2900
SMS-81 Santa Maria 1.0 1.17 420 400 9100 2600
SMS-85 Santa Maria 2.0 0.72 250 400 3600 1600
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SMS-87 Santa Maria 1.1 0.40 275 100 1500 1200
SMS-91 Santa Maria 0.55 2.30 118 500 5800 2000
129538 North 0.42 3.01 26 0 100 200
SMS-01 North 1.2 0.31 196 250 4100 10850
SMS-104 SW 0.8 0.23 694 138 780 287
SM-661 West Splay 0.85 2.67 107 500 17200 35300
SM-662 West Splay 0.71 0.83 148 200 51900 42600
Complete results are available on the Golden Minerals website at http://goldenminerals.com/drill_testing.php, as
are more detailed surface maps.
Figure 2: Santa Maria surface sample assays for silver.
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G O L D E N M I N E R A L S C O M P A N Y
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Figure 3: Santa Maria surface sample assays for gold.
A table with complete assay results by vein can be found on the Golden Minerals website at
http://www.goldenminerals.com/drill_testing.php
Next Steps
Golden Minerals intends to continue surface exploration and mapping at Santa Maria to define additional
targets for future drill testing . Additionally, the Company is currently updating the March 2017 PEA to
incorporate results of its 2017 -early 2018 drilling program , and estimates completing the PEA during the third
quarter 2018.
About Santa Maria
Golden holds an option to purchase ($1. 2 million remaining to acquire 100% , with the Cervantes
properties subject to a 2% NSR ) the Santa Maria project located near the Parral District in southern
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350 Indiana Street – Suite 800 – Golden, Colorado 80401 – Telephone (303) 839-5060 – Fax (303) 839-5907
Chihuahua State, Mexico. The Company has defined Canadian NI 43 -101 compliant resources of
300,000 tonnes grading 320 g/t silver and 1.2 g/t Au and completed a 7,500 -ton test mining program
from Santa Maria sin ce 2015, with average grades of 338 g/t silver and 0 .7 g/t gold. The Company
issued a PEA and Technical Report prepared in accordance with Canadian NI 43 -101 in March 2017. In
August 2017, Golden purchased 77 hectares covering the eastward extension of the Santa Maria vein,
with the goal of expanding the existing resource to improve the overall economics reported in the PEA.
Review by Qualified Person and Quality Control
The technical contents of this press release have been reviewed by Warren M. Rehn, M.Sc., a Qualified Person
for the purposes of Canadian National Instrument 43‐101. Mr. Rehn has over 33 years of mineral exploration
experience and is a QP member of the Mining and Metallurgical Society of America.
To ensure reliable sample results, Golden Minerals uses a quality assurance/quality control program that
monitors the chain‐of‐custody of samples and includes the insertion of blanks, duplicates and reference
standards in each batch of samples. Core is photographed and sawn in half with one half retained in a secured
facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at an independent
ISO 9001:2001 certified laboratory in Chihuahua or Zacatecas, Mexico. Prepared samples are direct‐shipped to an
ISO 9001:2001 certified laboratory in Canada.
About Golden Minerals
Golden Minerals is a Delaware corporation based in Golden, Colorado. The Company is primarily focused on
advancing its El Quevar silver property in Argentina and in acquiring and advancing mining properties in Mexico
with emphasis on areas near its Velardeña processing plants.
Forward-Looking Statements
This press release contains forward‐looking statements within the meaning of Section 27A of the Securities Act of
1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian
securities legislation, including statements relating to the possibility of discovering additional high -grade
mineralization at Santa Maria; the Company’s plan to update the Santa Maria PEA, including timing and the
expected results of that update ; the Company’ s anticipated timing and expectations regarding the El Quevar PEA;
and the Company’s next steps at Santa Maria, including the Company’s plans to continue surface exploration and
mapping to define additional targets for future drill testing . These statements are subject to risks an d
uncertainties, including changes in interpretations of geological, geostatistical, metallurgical, mining or processing
information and interpretations of the information resulting from future exploration, analysis or mining and
processing experience, new information from drilling programs or other exploration or analysis, unexpected
variations in mineral grades, types and metallurgy, fluctuations in silver and gold metal prices, increases in costs
and declines in general economic conditions, and changes i n political conditions, in tax, royalty, environmental and
other laws in Mexico and Argentina , and financial market conditions. Golden Minerals assumes no obligation to
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G O L D E N M I N E R A L S C O M P A N Y
350 Indiana Street – Suite 800 – Golden, Colorado 80401 – Telephone (303) 839-5060 – Fax (303) 839-5907
update this information. Additional risks relating to Golden Minerals may be found in t he periodic and current
reports filed with the Securities and Exchange Commission by Golden Minerals, including the Company’s Annual
Report on Form 10‐K for the year ended December 31, 2017.
Cautionary Note to United States Investors Regarding Estimates of Indicated and Inferred Resources
We use minerals resources in this press release, which is defined in NI 43 -101; however, this term is not recognized
under the SEC Industry Guide 7. Accordingly, the disclosures regarding mineralization in this news relea se may not
be comparable to similar information disclosed by Golden Minerals in the reports it files with the SEC. US
investors are cautioned not to assume that any or all of minerals resources are economically or legally mineable or
that these resources will ever be converted into reserves. In addition, the SEC normally only permits issuers to
report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in -place tonnage and
grade without reference to unit amounts. U.S. investors are urged to consider closely the disclosure in our Form
10-K and other SEC filings.
For additional information please visit http://www.goldenminerals.com/ or contact:
Golden Minerals Company
Karen Winkler
Director of Investor Relations
(303) 839-5060
SOURCE: Golden Minerals Company