GOLDEN MINERALS ANNOUNCES HIGH GRADE RESOURCE ESTIMATE FOR VELARDENA PROPERTY IN DURANGO MEXICO
GOLDEN, CO – (MARKETWIRE) – May 18, 2012 – Golden Minerals Company (“Golden Minerals” or the “Company”) (NYSE Amex: AUMN) (TSX: AUM) is pleased to announce the results of a Canadian National Instrument 43-101 (“NI 43-101”) compliant mineral resource estimate for the Velardeña Operations in Mexico which was received yesterday, May17th. The resource estimate has been prepared under the direct supervision of Robert Sanderfur, PE, of the firm of Chlumsky, Armbrust and Meyer (CAM).
The new resource estimate demonstrates significantly higher grades (approximately 50% on a gold/silver equivalent basis) than previous estimates.
The CAM measured, indicated and inferred resource estimate, which does not include the San Diego property, is shown in the following table: http://www.goldenminerals.com/pdfs/GLDN_InvestorKit/Press-Release-May-18-2012-Velardena%20Resource.pdf