An anonymous director reports

GOLDEN MINERALS ANNOUNCES CLOSING OF SALE OF VELARDENA MINE AND ASSOCIATED FACILITIES AND DELAY OF CLOSING IN SALE OF VELARDENA OXIDE PLANT AND WATER WELLS

Pursuant to certain asset purchase and sale agreements dated April 29, 2024, Golden Minerals Company has received payment in full of $2.5-million cash, plus value-added tax (VAT), for the Velardena mine and associated facilities, and title has been transferred to a privately held Mexican company. Further and in connection with the agreements, there has been a delay in the closing of the Minera William agreement entered into to sell the oxide processing plant and the water wells located in Durango state, Mexico. To date, the company has received partial payments in the amount of $373,000 for these assets. The remaining $2,627,000, plus VAT on the full sale price, was due on July 1. The company expects to negotiate an extension with the buyer.

About Golden Minerals Company

Golden Minerals is a precious metals mining/exploration company based in Golden, Colo. The company is primarily focused on advancing its El Quevar silver project in Argentina and its Yoquivo silver prospect in Mexico. The company is also advancing additional mining prospects in Nevada and Argentina.

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