Golden Minerals holds a portfolio of approximately 40 exploration properties that are in the Reconnaissance/Target Delineation Stage. These properties are located primarily in Latin America. Included in the Reconnaisance/Target Delineation Stage are the following projects:

Chavin – Peru

• Can acquire 65% ownership
• 3.3 km of vein length, including 1.5 km of the main vein
• Channel samples have returned up to 560 g/t Ag with 10% Pb and 5.4% Zn

Jehuamarca - Peru

• Epithermal veins and mantos in Tertiary volcanic rocks
• Surface sampling has returned up to 14 g/t Au, 350 g/t Ag with high base metals

La Pinta – Mexico

• Located in northeastern Zacatecas state about 25 km south of Concepcíon del Oro
• 10 concessions totaling 35,300 hectares
• Sampling has returned gold values and highly anomolous values of arsenic