An anonymous director reports

GOLDEN MINERALS COMPANY SUBSTANTIALLY REDUCES LIABILITIES IN MEXICO

Golden Minerals Company has completed the sale of its wholly owned Mexican subsidiaries, Servicios Velardena SA de CV and GMC Equipos SA de CV, to a privately held Mexican group. The transaction was completed on Dec. 30, 2025, for total consideration of approximately $65,000 (U.S.).

Upon consummation of the transaction, Servicios Velardena and GMC Equipos held net operating losses, inflation-adjusted capital contributions, several liabilities including approximately $60,000 (U.S.) in past-due accounts payable, the remaining labour claim in Mexico of approximately $56,000 (U.S.), and the Rodeo mining concession, a mined-out project that includes an associated asset retirement obligation with a book liability value of approximately $450,000 (U.S.). Under Mexican law, the balance of the subsidiaries' capital contribution accounts (CUCAs) may be bought and sold. All funds related to the sale have been received.

This transaction represents a significant step forward in the company's planned exit from Mexico, allowing Golden Minerals to substantially eliminate its liabilities in the country and reduce continuing overhead and administrative costs to a minimum while enabling the company to focus on other regions.