An anonymous director reports

GOLDEN MINERALS CLOSES SALE OF ITS YOQUIVO GOLD-SILVER PROJECT

Golden Minerals Company has closed on the sale of its Yoquivo gold-silver project (located in Chihuahua state, Mexico). The buyer is Advance Metals Ltd., an Australian Securities Exchange-listed entity focused on the acquisition, discovery and advancement of high-quality metal projects.

Pursuant to the sales agreement that the company announced in the past month, Advance Metals has purchased 100 per cent of the Yoquivo project from Minera de Cordilleras S de RL de CV, a wholly owned subsidiary of Golden Minerals, for total consideration of $570,000 (U.S.), which was paid in cash, plus value-added tax, as follows:

• A one-time, non-refundable cash payment of $20,000 (U.S.), plus VAT, for Advance Metals to have the right to carry out due diligence for a seven-day exclusive period, beginning on Oct. 24, 2024;
• On Nov. 1, 2024, Advance Metals made a $275,000 (U.S.) cash payment, plus VAT, to Golden Minerals;
• On Nov. 21, 2024, Advance Metals made a final $275,000 (U.S.) cash payment, plus VAT, to Golden Minerals.

Golden Minerals will finalize the transfer of the Yoquivo concessions upon establishment of a Mexican subsidiary by Advance Metals.

We seek Safe Harbor.