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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: Which update comes first?

Until the last Press Release of January 11st was issued I was expecting the el Quevar resource update to be provided before the Velardena resource update. Looking back at the text used in the press release I am not so sure anymore of the order and even believe it may be Velardena first and el Quevar second. Since English is not my mother tongue, my question to the board is if anything can be said by the order on the basis of the following sentences?

"The updated resource estimate for the El Quevar project is now expected by the end of first quarter 2012."

"As was previously announced, the Company expects to complete an updated NI 43-101 compliant resource estimate for the VelardeƱa Operations towards the end of the first quarter 2012."

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