Golden Minerals : Drills 18m Grading 2.9 gt Gold at Rodeo Gold-Silver Mine

Published: 2021-10-20 08:50:07 ET AUMN

GOLDEN - Golden Minerals Company ('Golden Minerals', 'Golden' or the 'Company') (NYSE-A: AUMN and TSX: AUMN) is pleased to announce assay results from 25 recently completed reverse circulation ('RC') drill holes at its Rodeo gold-silver mine located in Durango State, Mexico.

The company has drilled 47 RC holes totaling 3,187m, focusing on resource expansion and exploration of several targets located adjacent to the open pit. The reverse circulation drilling was completed in early October.

Drilling has intersected several wide zones of disseminated gold mineralization and has identified several additional high-grade zones that appear to be hosted in a series of silicified structures running parallel to the high-grade gold zones currently being exploited. The mineralization in these new zones is very similar to the material currently being mined and consists of highly silicified epithermal veins and breccias hosted in felsic volcanic rocks.

Warren Rehn, President and Chief Executive Officer of Golden Minerals, commented, 'The initial RC drill results are very positive. The gold-bearing intervals expand on the known zones of mill-grade gold mineralization to the south of the current pit and indicate that there is strong potential for Rodeo to host additional profitable tonnage, at current prices, to the south and west of the current pit.'

About Rodeo

Rodeo is a gold-silver open pit mine located in Durango State, Mexico. Production began in January 2021, with material being trucked to the Company's oxide mill at the Velardena Properties located around 115 kilometers away via road. Rodeo's current expected life per the terms of an independently prepared, NI 43-101-compliant Preliminary Economic Assessment (April 2020) is 2.5 years.

About Golden Minerals

Golden Minerals is a growing gold and silver producer based in Golden, Colorado. The Company is primarily focused on producing gold and silver from its Rodeo Mine and advancing its Velardena 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.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation, including statements regarding the Company's expectations for the additional high-grade zones of disseminated gold mineralization that the Company has identified at Rodeo, estimates of true thickness of the gold mineralization at previous drill holes, and anticipated potential for Rodeo to host additional profitable tonnage. These statements are subject to risks and uncertainties, including the reasonability of the economic assumptions at the basis of the results of the Rodeo project Preliminary Economic Assessment and technical report; changes in interpretations of geological, geostatistical, metallurgical, mining or processing information and interpretations of the information resulting from exploration, analysis or mining and processing experience. Golden Minerals assumes no obligation to update this information. Additional risks relating to Golden Minerals may be found in the periodic and current reports filed with the SEC by Golden Minerals, including the Company's Annual Report on Form 10-K for the year ended December 31, 2020.

Contact:

Karen Winkler

Tel: (303) 839-5060