An anonymous director reports

GOLDEN MINERALS SIGNS DEFINITIVE AGREEMENT TO SELL ITS EL QUEVAR SILVER PROJECT

Further to the press release dated Sept. 3, 2024, Golden Minerals Company has entered into a definitive agreement to sell Silex Argentina SA, its wholly owned subsidiary, to Butte Energy Inc. Butte has agreed to purchase 100 per cent of the issued and outstanding shares of Silex, which is the sole owner of the company's El Quevar silver project located in Salta province, Argentina.

The definitive agreement is binding on the parties, pending closing of the sales transaction on or prior to Oct. 31, 2024. The purchase price for the acquisition of 100 per cent of Silex is $3.5-million (U.S.), payable in cash, as follows:

1. $500,000 (U.S.) as a non-refundable deposit, which was paid on Sept. 3, 2024;
2. $500,000 (U.S.) payable to Golden Minerals prior to the close of business on Sept. 27, 2024;
3. $2.5-million (U.S.) payable to Golden Minerals upon closing of the transaction.

Closing of the transaction will be subject to additional conditions, including receipt of regulatory approvals. Infor Financial Inc. is acting as financial adviser to the company in relation to this transaction. Fasken Martineau DuMoulin LLP is acting as Canadian counsel to the company.

We seek Safe Harbor.