Mr. Warren Rehn reports

GOLDEN MINERALS FILES UPDATED PEA FOR VELARDENA PROJECT

Golden Minerals Company has filed an updated technical report for its Velardena properties. The report is entitled "Preliminary Economic Assessment Update NI 43-101 Technical Report of the Velardena Project," with an issue date of Aug. 18, 2023. 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 National Instrument 43-101:

• Dr. Guillermo Dante Ramirez-Rodriguez, PhD, MMSAQP -- Tetra Tech;
• Randolph P. Schneider, MMSAQP -- Tetra Tech;
• Kira Lyn Johnson, MMSAQP -- 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 gold and silver producer based in Golden, Colo. The company is primarily focused on initiating production at its Velardena properties (Mexico), advancing its Yoquivo gold-silver property (Mexico) and advancing its El Quevar silver property (Argentina) through partner-financed exploration and on acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.