An anonymous director reports

GOLDEN MINERALS STOPS MINING OPERATIONS AT ITS VELARDENA PROPERTIES

Golden Minerals Company has elected to stop operations at its Velardena properties, located in Durango state, Mexico.

The company restarted mining operations at Velardena in late December, 2023, with the goal of progressively increasing production at the mine during the first half of 2024 until it achieved positive cash flow. The initial performance of the mine and processing plant during the course of the initial several months of production has not achieved the results projected by the company. In light of the company's decision to cease mining operations, the company intends to evaluate potential alternatives for the Velardena properties, which may include a sale of properties or winding up of certain of the company's Mexico operations.

About Golden Minerals Company

Golden Minerals is a precious metals mining/exploration company based in Golden, Colo. The company is primarily focused on advancing its Yoquivo property in Mexico, and, through partner-financed exploration, advancing its El Quevar silver property in Argentina. The company is also focused on acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.

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