Golden Minerals Company
PROJECTS – Project Pipeline

Golden Minerals Projects and Properties

Golden Minerals owns the Velardeña Properties in Durango State, Mexico, which were acquired in September 2011 and contain a significant high-grade silver and gold resource with lead and zinc base metals, and the resource remains open at depth. The company suspended mining and sulfide processing activities at Velardeña in November 2015 due primarily to low silver and gold prices and lower average mill feed grades and gold recoveries than expected, which resulted in continuing net operating losses. The company intends to conserve the assets until such time as mining and processing plans and then-current precious metals prices indicate a sustainable positive operating margin at Velardeña, or until we are able to locate, acquire and develop alternative mineral sources that could be economically mined and transported to the Velardeña Properties for processing. The Properties contain a sulfide mill, an oxide mill (currently leased to Hecla Mining Company) and ample equipment that may be used to support nearby exploration and development activities.

Further production potential comes from the El Quevar project in the Salta Province of Argentina, a 100 percent-controlled, 57,000-hectare silver project. Golden believes El Quevar's drill results to date indicate the possibility of a new emerging silver district. In the third quarter 2017, we began a re-modeling project designed to identify a smaller but higher grade and potentially profitable mineral resource at El Quevar's Yaxtché deposit. We released an updated resource estimate prepared pursuant to Canadian National Instrument 43-101 in February 2018, and in the next several months we intend to proceed with a Preliminary Economic Assessment on the new resource. See the El Quevar project page for complete details.

In addition, Golden controls or has options to purchase a portfolio of exploration properties located in or near historical precious metals mining areas in Mexico. These projects include the Santa Maria silver and gold mine in Chihuahua State, the Mogotes property located seven kilometers from Velardeña in Durango State, claims totaling just over 1,900 hectares in the Yoquivo District in Chihuahua State, the Rodeo and Rodeo 2 claims in Durango State, the Celaya properties located in Guanajuato State and claims in the Zacatecas Mining District.

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