Yoquivo Silver-Gold Project Initial Mineral Resource Estimate

GOLDEN, CO - Golden Minerals Company reported on the initial Mineral Resource estimate and Technical Report prepared for its Yoquivo silver-gold project located in northwest Chihuahua state, Mexico.

Warren M. Rehn, Golden’s President and Chief Executive Officer, said, “We are very pleased to announce the first mineral resource ever reported for the Yoquivo district. At 570 g/t silver equivalent, this is an exceptionally high-grade initial Mineral Resource estimate. We believe there is excellent potential for Yoquivo to ultimately develop into a producing property. The resource was not initially classified beyond Inferred. We believe that a significant portion will be updated to Measured & Indicated in the next resource update. In addition, we note this initial resource estimate covers just a small portion of the strike length of the veins included in the estimate and a fraction of the total number of veins at Yoquivo, at least some of which have potentially economic intervals already drilled but with insufficient drilling to include in the estimate.”

Two composite samples for preliminary testwork were collected from coarse rejects of Yoquivo core samples. These composites were designed to represent low grade and medium grade mineralized material at Yoquivo. Our personnel designed and conducted metallurgical tests at the Velardena metallurgical laboratory.

The samples responded very well to flotation. Gold recoveries were between 84% and 95% and silver recoveries were between 82% and 89%.

Recoveries of 85% for gold and silver were recommended for use in assessing reasonable prospects of eventual economic extraction when performing the Mineral Resource estimate.