Golden Minerals Co

Golden Minerals Co is an exploration company focused on gold, silver, and copper projects. The company holds majority control in the Desierto and Sarita Este concessions, which are adjoining gold-silver-copper exploration projects located in northwest Salta Province, Argentina, collectively known as the "Sarita Este/Desierto project." Golden Minerals Co also holds a 60% interest in Sand Canyon, an exploration-stage gold-silver project situated in northwestern Nevada. Additionally, the company owns other immaterial mineral exploration properties primarily located in or near historical precious metals producing regions in Argentina and Mexico. The company's primary focus is on advancing exploration activities at both the Sarita Este/Desierto project and the Sand Canyon project. Golden Minerals Co continues to review additional exploration opportunities, primarily in South America. In 2024, the company's former Velardeña and Chicago gold-silver mining properties, referred to as the "Velardeña Properties," were classified as discontinued operations held for short-term sale. Golden Minerals Co entered into four separate sales agreements, collectively the "Velardeña Sales Agreements," to sell the Velardeña and Chicago mines, including both sulfide and oxide processing plants, water wells, and related equipment, to a privately held Mexican company, the "Velardeña Buyer." The aggregate purchase price for these assets was $5.5 million in cash, plus value added tax ("VAT"). The transactions under the first three Velardeña Sales Agreements, covering the combined sales of the Velardeña and Chicago mines, the sulfide processing plant, and various related equipment, were completed on June 20, 2024. The Velardeña Buyer agreed to pay $3.0 million plus VAT on July 1, 2024, to complete the transaction for the fourth Velardeña Sales Agreement, which included the oxide processing plant and water wells. The Velardeña Buyer made periodic payments and completed the purchase price of $3 million plus VAT in October 2025, at which point Golden Minerals Co transferred the title to the oxide plant and the water wells to the Velardeña Buyer. Golden Minerals Co has no further involvement with the Velardeña Properties. Over the previous two years, the company has also focused on monetizing its non-core assets.