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Golden Minerals Company produces 14,449 ounces of gold in 2021, beating expectations

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GOLDEN, Colorado – Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American: AUMN and TSX: AUMN) today announced production data from its Rodeo gold-silver mine (State of Durango, Mexico) for the fourth quarter and full year (“year” 2021).

The Rodeo operation entered service in mid-January 2021 and reached steady state throughput in April 2021. The summary production figures are as follows:

  • Payable gold production: 4,831 oz Au in Q4 and 14,449 oz During fiscal 2021, exceeding annual production forecast of 12,000 to 14,000 oz Au
  • Payable silver production: 15,250 ounces in the fourth quarter and 51,058 ounces in fiscal 2021, exceeding annual forecast by 25,000 to 30,000 ounces Ag
  • Gold equivalent production payable: 5,028 AuEq ounces in Q4 and 15,156 AuEq ounces in fiscal 2021
  • High average gold grades: 4.6 g / t Au in Q4 and 4.1 g / t in fiscal 2021, compared to the preliminary economic assessment mine life average grade of 3.3.g / t
  • Throughput (tonnes per day (“tpd”) processed): 466 tpd in Q4 and 409 tpd in fiscal year 2021
  • Gold recovery: 76.5% in Q4 and 74.9% for fiscal 2021
  • Realized gold / silver prices (before selling and refining costs): $ 1,784 / oz Au in Q4 and $ 1,793 / oz for fiscal year 2021; $ 23.08 / oz Ag in Q4 and $ 24.83 / oz Ag in fiscal year 2021


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Warren Rehn, President and CEO of Golden, commented: “2021 has been an exciting and successful year for Golden Minerals as it marked our progression to being the company’s junior gold and silver producer. exploration based on our start-up of the Rodeo mine and our excellent production record. . Exceeding our production forecast for the year is a testament to the success of our highly skilled mining team throughout the planning and execution stages from mine start-up to full production. We are well positioned to continue our growth strategy in 2022 based on the continuation of our planned production of Rodeo and the possible restart of our mining operation in Velardeña. ”

Complete production data for 2021 is shown in the table below.

Three months ended
December 31, 2021

Twelve months ended
December 31, 2021

Total tonnes extracted (1)


661 102

Total tonnes in stocks awaiting processing (2)



Total tonnes in low grade stocks (3)



Tons processed


149 411

Tons per day processed



Gold content processed (grams per tonne)



Silver content processed (grams per tonne)



Plant recovery – gold (%)



Plant recovery – money (%)



Payable gold produced in gold (ounces)

4 831


Payable money produced in gold (ounces)



Gold equivalent payable produced in gold (ounces) (4)


15 156

Gold sold in gold (ounces)

5 164


Silver sold in gold (ounces)


48 970

Gold equivalent sold in gold (ounces) (4)

5 366

14 454

Realized price, before refining and selling costs
Gold (dollars per ounce)



Silver (dollars per ounce)




Includes all extracted materials transported to the plant, stored or designated as waste


Includes mined material stored at the mine or transported to the plant awaiting processing at the plant


Material content between 2 g / t (current cut-off grade) and 1 g / t Au retained for possible future processing


Gold equivalents based on the realized price in $ Au and $ Ag

About Golden Minerals

Golden Minerals is a growing gold and silver producer based in Golden, Colorado. The Company’s primary focus is 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 on the acquisition and advancement of selected mining properties in Mexico, Nevada and Argentina.


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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 Canadian securities legislation. applicable, including statements regarding the Company’s growth strategy. for 2022 and projections related to the production of the Rodeo and the potential restart of the mining of Velardeña. These statements are subject to risks and uncertainties, including the overall impact of the COVID-19 pandemic and the possible future suspension of non-essential activities in Mexico, including mining; higher than expected costs at the Rodeo mine or Velardeña; decline in general economic conditions; changes in political, tax, royalty, environmental and other conditions in the United States, Mexico or Argentina and other market conditions; and fluctuations in the prices of silver and gold. Golden Minerals assumes no obligation to update this information. Additional risks relating to Golden Minerals can be found in the periodic and current reports filed with the SEC by Golden Minerals, including the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2020.

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Golden Minerals Company produces 14,449 ounces of gold in 2021, beating expectations

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Golden Minerals Company produces 14,449 ounces of gold in 2021, beating expectations


Golden Minerals Society
Karen Winkler, Director of Investor Relations
(303) 839-5060




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