Golden Minerals Company Reports Q4 and FY 2022 Gold Production

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01/11/2023 - 06:45 AM

GOLDEN, Colo.--(BUSINESS WIRE)-- Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American: AUMN) (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

Rodeo Operations Statistics

	Q1 2022		Q2 2022		Q3 2022		Q4 2022		FY 2022

Tonnes mined (1)		203,591		213,925		192,545		161,424		771,485
Tonnes in stockpiles awaiting processing (2)		10,898		21,713		23,618		31,381		31,381
Tonnes in low grade stockpiles (3)		88,559		95,932		121,202		193,479		193,479
Tonnes processed		47,437		47,479		47,947		52,736		195,599
Average tonnes per day processed		527		522		521		573		536

Average gold grade processed (grams per tonne)		3.1		2.6		2.6		2.0		2.6
Average silver grade processed (grams per tonne)		11.6		10.4		10.4		10.2		10.6

Plant recovery - gold (%)		75.4		75.1		74.6		73.3		74.7
Plant recovery - silver (%)		82.8		82.3		77.6		82.0		81.2

Payable gold produced in dore (ounces)		3,608		3,004		2,972		2,398		11,982
Payable silver produced in dore (ounces)		13,944		12,768		11,907		13,560		52,179
Payable gold equivalent produced in dore (ounces) (4)		3,787		3,158		3,103		2,568		12,616

Gold sold in dore (ounces)		3,855		3,060		3,018		2,518		12,451
Silver sold in dore (ounces)		14,481		13,180		11,609		14,217		53,486
Gold equivalent sold in dore (ounces) (4)		4,040		3,219		3,145		2,696		13,101

Average realized price, before refining and selling costs
Gold (dollar per ounce)	$	1,887.65	$	1,864.99	$	1,703.10	$	1,729.40	$	1,805.34
Silver (dollar per ounce)	$	24.24	$	22.49	$	18.72	$	21.69	$	21.93

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.

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

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