Golden Minerals Company Reports Q4 and FY 2022 Gold Production

GOLDEN, CO - /BUSINESS WIRE/ - January 11, 2023 – Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American: AUMN and TSX: AUMN) has reported production data from its Rodeo gold-silver mine (Durango State, Mexico) for the fourth quarter ending December 31, 2022 and full year 2022. Summary highlights include the following:

Payable gold production: 2,398 oz Au in Q4 and 11,982 oz Au in FY 2022 Payable silver production: 13,560 oz Ag in Q4 and 52,179 oz in FY 2022 Payable gold equivalent production: 2,568 AuEq oz in Q4 and 12,616 AuEq oz in FY 2022 Average gold grade: 2.0 g/t Au in Q4 and 2.6 g/t in FY 2022 Throughput (tonnes per day processed): 573 tpd in Q4 and 536 g/t in FY 2022 Gold recovery: 73.3% in Q4 and 74.7% in FY 2022 Silver recovery: 82.0% in Q4 and 81.2% in FY 2022 Realized gold/silver prices (before selling and refining costs): $1,729/oz Au and $21.69/oz Ag in Q4; $1,805/oz Au and $21.93/oz Ag in FY 2022

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

About Golden Minerals

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

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

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