Golden Minerals Signs Binding Agreement to Sell Yoquivo Gold-Silver Project Via Investing.com

GOLDEN, Colo.–(BUSINESS WIRE)–Golden Minerals Company (Golden Minerals, Golden or the Company) (NYSE-A: AUMN and TSX: AUMN) today announced that it has signed a binding agreement (the Agreement) to sell the Yoquivo gold Project -silver (located in Chihuahua State, Mexico) (Yoquivo Project) to Advance Metals Limited (ASX: AVM) (AVM) an ASX-listed business focused on the discovery, acquisition and development of high-quality metal projects. (Transaction).

Under the terms of the Agreement, AVM will purchase 100% of the Yoquivo Project from Minera de Cordilleras S. de RL de CV, a wholly owned subsidiary of Golden Minerals, for a total consideration of US$570,000 (Purchase Price), payable in – cash, and value added tax (VAT) as follows:

• A non-refundable cash payment of US$20,000, plus VAT, for AVM's right to due diligence for a period of seven days, from 24 October 2024.
• On November 1, 2024, AVM will make a cash payment of $275,000, plus VAT, to Golden.
• On November 21, 2024, AVM will make a final payment of US$275,000 in cash, plus VAT, to Golden (collectively, the Transaction Payments).

Closing of the Transaction will be subject to additional conditions, including receipt of regulatory approval and completion of due diligence review by AVM. In the event that AVM decides not to complete the Transaction, AVM will be subject to a break-up fee of 20% of the Purchase Price.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of applicable Canadian securities. law (collectively, forward-looking statements), including statements regarding the Company receiving the Transaction Payments contemplated by the Agreement and the Work and AVM's payment of a breakup fee in the amount of 20% of the Purchase Price if AVM decides not to complete the Work. .

These statements are subject to risks and uncertainties including the Company's receipt of Transaction Payments; the Company's ability to sell or realize value from the sale of the Yoquivo Project or its other assets, or through equity or other external financing; obtaining regulatory approvals necessary to complete the Work; the satisfaction or waiver of the closing conditions of the Transaction; increases in costs and declines in general economic conditions; changes in political conditions, tax, royalty, environmental and other laws of the United States, Mexico or Argentina and other market conditions; and fluctuations in the price of silver and gold. Golden assumes no responsibility to update this information. Additional risks related to Golden can be found in the periodic and current reports filed with the Securities & Exchange Commission by Golden, including the Company's Annual Report on Form 10-K for the year ended December 31, 2023.

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Golden Minerals Company
(303) 839-5060

Source: Golden Minerals Company