Ms. Karen Winkler reports

GOLDEN MINERALS ANNOUNCES SEDAR FILING OF PEA FOR SANTA MARIA SILVER-GOLD PROJECT

Golden Minerals Company has filed on SEDAR a preliminary economic assessment (PEA) and accompanying technical report for its Santa Maria silver-gold project located in southern Chihuahua state, Mexico. The report, entitled "NI 43-101 Technical Report, Updated Preliminary Economic Assessment, Santa Maria Silver Project, Santa Barbara, Chihuahua, Mexico," is dated Sept. 14, 2018, and was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects by the independent firm of Tetra Tech.

The report supports the disclosures made by the company in its Oct. 3, 2018, news release entitled "Golden Minerals Reports Improved Economics in Second PEA for Santa Maria Silver-Gold Project." The technical report is available for review on SEDAR and on the company's website.

Qualified persons

The report was prepared by the following qualified persons as defined by NI 43-101:

Deepak Malhotra, PhD, president of Pro Solv Consulting LLC;

Guillermo Dante Ramirez-Rodriguez, PhD, MMSAQP, principal mining engineer of Tetra Tech; and

Leonel Lopez, CPG, associate principal geologist of Tetra Tech.

The contents of this press release have been reviewed and approved by Warren Rehn, QP MMSA, president and chief executive officer of Golden Minerals.

About Golden Minerals Company

Golden Minerals is a Delaware corporation based in Golden, Colo. The company is primarily focused on advancing its El Quevar silver property in Argentina and in acquiring and advancing mining properties in Mexico with emphasis on areas near its Velardena processing plants.