Golden Minerals Begins Producing Gold-Bearing Pyrite Focus at Velardeña

GOLDEN, Colo. — Golden Minerals Firm (“Golden Minerals,” “Golden” or the “Firm”) (NYSE-A: AUMN and TSX: AUMN) is happy to announce it has begun producing gold-bearing pyrite flotation focus from its Velardeña Properties in Durango State, Mexico.

The Firm is processing materials that has been stockpiled at Velardeña for the reason that mines final operated in 2015. The fabric was solely partially processed throughout previous operations and a gold and silver bearing pyrite focus has not beforehand been separated from the fabric. During times of previous operations, focus gross sales phrases have been uneconomic for the gold-bearing pyrite focus that comes from Velardeña. Nevertheless, latest and notably extra favorable market phrases provided for these concentrates imply Velardeña’s gold pyrite/arsenopyrite concentrates at the moment are financial to course of and promote (see the Firm’s press launch dated April 4, 2023: Golden Minerals Proclaims Improved Phrases for Velardeña Gold-Pyrite Focus).

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The Firm started processing final week and estimates its first cargo of concentrates will happen this week. The Firm plans to proceed processing this beforehand stockpiled materials till ample newly-mined materials from Velardeña is out there for processing at full capability, which is anticipated to happen inside the subsequent a number of months. The Firm plans to start out mining at Velardeña in December. The mining contractor is mobilizing now and will probably be on web site the primary week of December.

About Golden Minerals

Golden Minerals is a gold and silver mining firm primarily based in Golden, Colorado. The Firm is primarily targeted on resuming manufacturing at its Velardeña Properties and advancing its Yoquivo property in Mexico, and, by partner-funded exploration, advancing its El Quevar silver property in Argentina. The Firm can be targeted on buying and advancing chosen mining properties in Mexico, Nevada and Argentina.

Ahead-Wanting Statements

This press launch comprises forward-looking statements inside the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended, and relevant Canadian securities laws, akin to statements relating to the Velardeña Properties, together with the timing of the primary cargo of gold and silver bearing pyrite concentrates, plans to proceed processing beforehand stockpiled materials, the timing during which ample newly-mined materials for processing at full capability will probably be out there and plans to start out mining on the properties in December. These statements are topic to dangers and uncertainties, together with will increase in prices and declines basically financial situations; adjustments in present payable phrases for gold and silver bearing pyrite concentrates; adjustments in political situations, in tax, royalty, environmental and different legal guidelines in Mexico and different market situations; unanticipated variations in grade; challenges related to our proposed mining plans, together with difficulties in controlling grade dilution and interruptions in mining; and variations within the anticipated prices to restart Velardeña, Golden Minerals assumes no obligation to replace this data. Extra dangers regarding Golden Minerals could also be discovered within the periodic and present experiences filed with the Securities & Alternate Fee by Golden Minerals, together with the Firm’s Annual Report on Type 10-Ok for the yr ended December 31, 2022.

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Golden Minerals Begins Producing Gold-Bearing Pyrite Focus at Velardeña