Yoquivo Project Second Phase Drill Program Completed

GOLDEN, CO - Golden Minerals Company reported assay results from the first five holes of a 21-hole, second phase drill program recently completed at its Yoquivo gold-silver project in northwest Chihuahua state, Mexico. Highlights from the drilling include: 2.4 meters (“m”) @ 0.51 grams per tonne (“g/t”) Au and 706.0 g/t Ag; 1.5m @ 4.02 g/t Au and 1,473.2 g/t Ag; and 2.4m @ 1.03 g/t Au and 266.6 g/t Ag.

The drill program included 3,949m comprised of 21 holes exploring the Pertenencia, Esperanza and Dolar vein systems. Drill holes were designed to follow up on the high-grade zones intersected by the Company’s 2020 drill program and to explore additional veins to identify new high-grade zones. The Company is currently awaiting additional assay results that it expects to report in the coming months.

As a result of identifying the new mineralization style in fault zones and breccias, the Company is relogging and resampling the drill core from drilling conducted at the project by West Timmins Mining in 2007 to ascertain whether any additional areas of mineralization can be identified that may not have been sampled.

Warren Rehn, President and Chief Executive Officer, said, “We are pleased with this first set of results from the second phase of drilling at Yoquivo. Hole two demonstrates the potential for the Pertenencia vein to host significant high-grade mineralization, and we’re also excited about hole four which hit multiple high-grade veins suggesting there may be additional blind veins to be found on the property. To date, we’ve explored only a very small portion of this property. We plan to build on these results and continue to advance this high-quality project.”