To decide whether an exploration project warrants future advancement, Golden Minerals has established minimum requirements that the property must meet. These include minimum requirements for reserves, annual saleable metal production rates, estimated mine development capital and operating costs. Overall, we strive to acquire and advance properties that bring synergy to our existing assets and growth opportunities for the company.

Currently, Golden Minerals has a project pipeline defined as: Reconnaissance/Target Delineation, Drill Testing, Advanced Exploration, Project Evaluation and Production Ramp-Up. Our most advanced project is the Production Ramp-Up Velardeña project in Durango State, Mexico. Our Project Evaluation Stage El Quevar projectis located in Argentina. The Zacatecas project in Mexico is our Advanced Exploration Stage project. We have two Drill Testing projects: Cochabama (in Peru) and Atlas (in Argentina). Additionally, we have 40 properties in the Reconnaissance/Target Delineation Stage located throughout Argentina, Mexico, Peru, Chile and Brazil.