Completed RC drilling, Rodeo Gold Mine, Durango (Graphic: Business Wire)

Completed RC drilling, Rodeo Gold Mine, Durango (Graphic: Business Wire)

Golden, Colorado--(BUSINESS WIRE)--Golden Minerals Company ("Golden Minerals", "Golden" or "Company") (NYSE: AUMN and Toronto Stock Exchange) (Stock code: AUMN) is pleased to announce its final test results. It recently completed a reverse circulation ("RC") and diamond drilling program at the Rodeo Gold and Silver Mine in Durango, Mexico.

Highlights of drilling include:

The 2021 drilling plan in Rodeo includes 47 RC holes with a total length of 3,187m, plus 35 diamond holes with a total length of 2461m. RC drilling focuses on resource expansion, and the diamond drilling program focuses on exploring multiple near-mining exploration targets. The current version is the third release since the drilling program was launched, and it contains 21 RC and 6 diamond drilling results.

Drilling continues through a large area of ​​high-grade gold mineralization, surrounded by large areas of low-grade disseminated gold and silver mineralization. Gold mineralization is related to the NW-SE trending network zone, which is composed of steep smoky crystal veins and breccias, which contains very small disseminated pyrite, located in a series of felsic volcanic rocks.

Warren Rehn, President and CEO of Golden Minerals, said: “This is a very encouraging drilling program. We have been able to extend high-grade mineralization to the north and south of the open-pit mine, and we have discovered an area” around the high-grade core The dispersive gold and silver mineralization. We are now modeling the data, and once we understand the extent to which mineralized materials may be added, we will update our resource model and our mining plan as needed. "

The following table summarizes the important results, the complete results can be found on the company website: [Rodeo Project]

Note: The interval in the table represents the length of the drilled hole. The actual thickness is expected to be about 80% of the length of the borehole, because the borehole is perpendicular to the gold mineralized layer sloping about 25 degrees northeast. Intervals and grades have been rounded to one or two decimal places.

Rodeo is an open-pit gold and silver mine located in Durango, Mexico. Production began in January 2021, and the material was transported by road to the company's oxide plant in Velardeña Properties, located approximately 115 kilometers away. According to independently prepared terms in accordance with NI 43-101's preliminary economic assessment (April 2020), Rodeo's life expectancy is 2.5 years.

Review and quality control by qualified personnel

The technical content of this press release has been reviewed by Matthew Booth, a qualified person who meets the requirements of NI 43-101. Mr. Booth has more than 17 years of mineral exploration experience and is a qualified personnel of the American Society of Professional Geologists (CPG 12044).

To ensure reliable sample results, Golden Minerals uses quality assurance/quality control procedures to monitor the chain of custody of samples, including inserting blanks, duplicates, and reference standards in each batch of samples.

RC drilling was carried out using Prospector W750 articulated bracket-mounted RC drilling rigs provided by Major Drilling, and diamond drilling was carried out using Coretech CSD 1300G drilling rigs using Eco drilling. The drilling depth is 26m to 160m, the azimuth angle is 240° or 60°, and the inclination angle is -45° to -65°. No water was encountered during drilling. Use handheld GPS (accuracy +/- 5 meters) to locate the hole, and then use differential GPS to measure after the hole is completed.

For diamond holes, use a diamond saw to cut half of the core to obtain core samples, retain half for permanent core recording, and send the other half for analysis. For RC holes, samples are taken from the drill rig cyclone at a drilling interval of 2 meters. Each 2-meter long sample is divided into approximately 6 kg samples for testing. The RC chips are recorded on the rig, and a small sample of 100 grams is collected, recorded and stored in the chip tray on site.

The RC and core samples were sent to the ALS Chemex sample preparation facility in Chihuahua, where they were crushed to 70% passing 2 mm (PREP-31), and up to 250 grams of fragments were crushed to 85% passing 75 microns (-200 mesh). ). The sample pulp and crushed debris were transferred internally to ALS Global's analysis facility in North Vancouver, Canada for gold and multi-element analysis. The pulp (30 gram cuts) was analyzed by flame analysis by atomic absorption treatment (Au-AA23), and silver samples were analyzed by atomic absorption (Ag-AA45).

Drill cores, reverse circulation drill cuttings, and rock samples are transported to the ALS Chemex sample preparation facility in Chihuahua, Chihuahua, Mexico, where sample preparation and analysis are performed at the ALS laboratory in North Vancouver. ALS Chihuahua and North Vancouver factories have passed ISO 9001 and ISO/IEC 17025 certification. ALS Global is located in North Vancouver, British Columbia, Canada. It is an organization that has passed ISO 9001:2008 certification and obtained the Canadian Standards Council ISO/IEC 17025:2005 certification.

Over-limit Au and Ag samples were analyzed by fire analysis using gravimetric concentrate grades (Au-GRA22 and Ag-GRA21). Analyze excess base metals in copper, lead and zinc (Cu-OG62, Pb-OG62, Zn-OG62) by tetraacid digestion and mineral-grade inductively coupled plasma atomic emission spectrometry (ICP-AES).

Internal quality control samples (blank, standard, duplicate, preparation duplicate) are inserted into Golden Minerals' sample group. ALS Global executes its own internal QA/QC plan of blanks, standards and copies, and the results are provided with the company's sample certificate. The results of the ALS control samples are reviewed by Golden Minerals and the company's QP, and acceptable tolerances are evaluated.

All samples and waste paper pulp are stored in the company's secure warehouse in Velardeña, Durango, waiting for a full review of the analysis data, and the pulp is selected for independent third-party inspection and analysis when needed.

Golden Minerals is a growing gold and silver producer headquartered in Golden, Colorado. The company mainly focuses on producing gold and silver from its Rodeo mine and advancing its Velardeña assets in Mexico, and through partner-funded exploration and development of its El Quevar silver mine in Argentina, as well as acquiring and advancing in Mexico, Nevada and Argentina.

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 as well as applicable Canadian securities legislation, including statements about company plans. According to the geochemical anomaly, we estimate the true width of gold mineralization in previous drill holes, and plan to update the company’s resource model and mine plan. These statements are subject to risks and uncertainties, including the reasonableness of economic assumptions based on the results of the Rodeo project’s preliminary economic evaluation and technical reports; changes in the interpretation of geology, geostatistics, metallurgy, mining or processing information; and changes in the exploration, analysis, or Interpretation of information generated from mining and processing experience. Golden Minerals assumes no obligation to update this information. Golden Minerals' regular and current reports submitted to the SEC may reveal other risks related to Golden Minerals, including the company's annual report on Form 10-K for the year ended December 31, 2020.

For more information, please visit http://www.goldenminerals.com/.

Golden Minerals Company Karen Winkler, Director of Investor Relations (303) 839-5060

Golden Minerals graded 8.2 g/ton of gold at 20m from Rodeo Gold and Silver Mine and completed the 2021 drilling plan

Golden Minerals Company Karen Winkler, Director of Investor Relations (303) 839-5060