Golden Minerals Company Reports Q2 2023 Gold Production

GOLDEN, Colo., July 20, 2023--(BUSINESS WIRE)--Golden Minerals Company ("Golden Minerals", "Golden" or the "Company") (NYSE American: AUMN and TSX: AUMN) has reported production figures from its Rodeo gold-silver mine (Durango State, Mexico) for the three- and six- month periods ended June 30, 2023. The Company concluded open pit mining at the Rodeo mine during the month of June and moved to processing of stockpiled material.

Rodeo Operations Statistics Qtr. Ended
Mar. 31, 2023 Qtr. Ended
Jun. 30, 2023 Six Months
Ended
Jun. 30, 2023 Tonnes mined (1) 154,371 72,525 226,896 Tonnes in stockpiles awaiting processing (2) 18,467 10,669 10,669 Tonnes in low grade stockpiles (3) 133,349 111,422 111,422 Tonnes processed 54,272 50,787 105,059 Average tonnes per day processed 603 558 580 Average gold grade processed (grams per tonne) 1.6 1.6 1.6 Average silver grade processed (grams per tonne) 9.0 5.8 7.4 Plant recovery - gold (%) 72.6 71.6 72.2 Plant recovery - silver (%) 75.5 85.6 80.4 Payable gold produced in dore (ounces) 2,081 1,828 3,909 Payable silver produced in dore (ounces) 11,535 7,742 19,277 Payable gold equivalent produced in dore (ounces) (4) 2,219 1,923 4,142 Gold sold in dore (ounces) 2,112 1,726 3,838 Silver sold in dore (ounces) 11,369 7,745 19,114 Gold equivalent sold in dore (ounces) (4) 2,248 1,821 4,069 Average realized price, before refining and selling costs Gold (dollar per ounce) $ 1,891.24 $ 1,976.45 $ 1,929.56 Silver (dollar per ounce) $ 22.60 $ 24.34 $ 23.31

Notes:
(1) Includes all mined material transported to the plant, stockpiled or designated as waste
(2) Includes mined material stockpiled at the mine or transported to the plant awaiting processing in the plant
(3) Material grading between 1.6 g/t (current cutoff grade) and 1 g/t Au held for possible future processing
(4) Gold equivalents based on realized $ Au and $ Ag price

In addition, the Company sold approximately 656 tonnes of gold-rich pyrite concentrate, 118 tonnes of silver-rich lead concentrate and 63 tonnes of zinc concentrate during the second quarter 2023. The concentrate was produced from mineralized material from the Velardeña Properties that was mined and stockpiled during 2022 as part of the test-mining program.

About Golden Minerals

Golden Minerals is a gold and silver producer based in Golden, Colorado. The Company is primarily focused on producing gold and silver from its Rodeo Mine, advancing its Velardeña and Yoquivo properties in Mexico and, through partner-funded exploration, its El Quevar silver property in Argentina, as well as acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.

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Contacts

For additional information please visit http://www.goldenminerals.com/ or contact:

Golden Minerals Company
Karen Winkler, Director of Investor Relations
(303) 839-5060