Golden Minerals Company Reports Q2 2023 Gold Production

Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American: AUMN and TSX: AUMN) has reported production figures from its Rodeo gold-silver mine (Durango State, Mexico) for the three- and six- month periods ended June 30, 2023. The Company concluded open pit mining at the Rodeo mine during the month of June and moved to processing of stockpiled material.

Rodeo Operations Statistics
 
Qtr. Ended

Mar. 31, 2023
Qtr. Ended

Jun. 30, 2023
Six Months

Ended

Jun. 30, 2023
 
Tonnes mined (1)

 

154,371

 

72,525

 

226,896

Tonnes in stockpiles awaiting processing (2)

 

18,467

 

10,669

 

10,669

Tonnes in low grade stockpiles (3)

 

133,349

 

111,422

 

111,422

Tonnes processed

 

54,272

 

50,787

 

105,059

Average tonnes per day processed

 

603

 

558

 

580

 
Average gold grade processed (grams per tonne)

 

1.6

 

1.6

 

1.6

Average silver grade processed (grams per tonne)

 

9.0

 

5.8

 

7.4

 
Plant recovery - gold (%)

 

72.6

 

71.6

 

72.2

Plant recovery - silver (%)

 

75.5

 

85.6

 

80.4

 
Payable gold produced in dore (ounces)

 

2,081

 

1,828

 

3,909

Payable silver produced in dore (ounces)

 

11,535

 

7,742

 

19,277

Payable gold equivalent produced in dore (ounces) (4)

 

2,219

 

1,923

 

4,142

 
Gold sold in dore (ounces)

 

2,112

 

1,726

 

3,838

Silver sold in dore (ounces)

 

11,369

 

7,745

 

19,114

Gold equivalent sold in dore (ounces) (4)

 

2,248

 

1,821

 

4,069

 
Average realized price, before refining and selling costs
Gold (dollar per ounce)

$

1,891.24

$

1,976.45

$

1,929.56

Silver (dollar per ounce)

$

22.60

$

24.34

$

23.31

Notes:

(1) Includes all mined material transported to the plant, stockpiled or designated as waste

(2) Includes mined material stockpiled at the mine or transported to the plant awaiting processing in the plant

(3) Material grading between 1.6 g/t (current cutoff grade) and 1 g/t Au held for possible future processing

(4) Gold equivalents based on realized $ Au and $ Ag price

In addition, the Company sold approximately 656 tonnes of gold-rich pyrite concentrate, 118 tonnes of silver-rich lead concentrate and 63 tonnes of zinc concentrate during the second quarter 2023. The concentrate was produced from mineralized material from the Velardeña Properties that was mined and stockpiled during 2022 as part of the test-mining program.

About Golden Minerals

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

Follow us at www.linkedin.com/company/golden-minerals-company/ and https://twitter.com/Golden_Minerals

Contacts

For additional information please visit http://www.goldenminerals.com/ or contact:

Golden Minerals Company

Karen Winkler, Director of Investor Relations

(303) 839-5060

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