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more good news from Golden Minerals

posted on Apr 20, 2015 01:24PM

Golden Minerals Announces Mineral Resource Estimates For Santa Maria And Los Azules Mines
Ticker Symbol: U:AUMN C:AUM

Golden Minerals Announces Mineral Resource Estimates For Santa Maria And Los Azules Mines

PR Newswire

GOLDEN, Colo., April 20, 2015

GOLDEN, Colo., April 20, 2015 /PRNewswire/ -- Golden Minerals Company (NYSE MKT: AUMN; TSX: AUM) ("Golden Minerals" or "the Company") announces the results of Canadian National Instrument 43-101 ("NI 43-101") compliant mineral resource estimates for deposits at the Santa Maria Mine and the Los Azules Mine properties. Both properties are located in southern Chihuahua State, Mexico within 30 kilometers of the town of Hidalgo del Parral near the Parral mining district.

The Santa Maria vein system is on average a two-meter wide epithermal silver (Ag) gold (Au) deposit hosted in Parral Formation calcareous sedimentary rocks. Mineral resources were estimated based on 125 composited channel samples and 2,900 meters of drilling in 13 holes over a strike length of 355 meters and down dip depth of 155 meters. Previous mining activities on the Santa Maria property included completion of a decline to the 75 meter level which is accessible by motorized equipment.

Indicated and inferred mineral resource estimates as at April 20, 2015 for Santa Maria are shown in the following table:

	Cut-off	Mineral	Tonnes	Silver Oz	Gold Oz	Silver	Gold		SilverEq	GoldEq
Grade	Type	x(000)	x(000)	x(000)	(g/t)	(g/t)	Oz	Oz
AgEq (g/t)2							x(000)3,4	x(000)3,4
Indicated	165	Oxide,	86	770	3	280	1.1		950	16
Mixed &
Sulfide
Inferred	165	Oxide,	306	3,070	12	312	1.2		3,810	63
Mixed &
Sulfide

Notes:

(1)	Mineral resources are reported as diluted tonnes and grade to a minimum 0.8meter (m) width with 0.2m dilution added
(2)	Cut-off grade has been estimated using 90% recovery and 90% payable Ag and Au with three year trailing average metal prices as of February 2015: US$24 per troy ounce Ag, US$1,420 per troy ounce Au
(3)	Equivalents calculated at 60:1 silver to gold
(4)	Silver and gold equivalent ounces are not additive

The US Securities and Exchange Commission (SEC) Industry Guide 7 mineralized material estimate for Santa Maria totals 86,000 tonnes at silver and gold grades of 280 grams per tonne (gpt) and 1.1 gpt, respectively, using the cut-off grade and metals prices provided in the table above.

The Los Azules vein system is on average a one-meter wide epithermal Au-Ag quartz vein system hosted in Tertiary volcanic rocks. Resources were estimated based on 206 composited channel samples and 30 drill holes totaling 7,479 meters over a strike length of 2,100 meters and a down dip extent of 350 meters. Previous mining on the Los Azules property established underground access drifts that Golden Minerals rehabilitated for access to the vein system.

Indicated and inferred mineral resource estimates as at April 20, 2015 for Los Azules are shown in the following table:

	Cut-off Grade AuEq (g/t)2	Mineral Type	Tonnes x(000)	Silver Oz x(000)	Gold Oz x(000)	Silver (g/t)	Gold (g/t)	SilverEq Oz x(000)3,4	GoldEq Oz x(000)3,4
Indicated	2.8	Oxide, Mixed & Sulfide	78	390	8	155	3.0	840	14
Inferred	2.8	Oxide, Mixed & Sulfide	290	1,100	36	118	3.9	3,260	54

Notes

(1)	Mineral resources are reported as diluted tonnes and grade to a minimum 0.8m width with 0.2m dilution added
(2)	Cut-off grade has been estimated using 90% recovery and 90% payable Au and Ag with three year trailing average metal prices as of February 2015: US$1,420 per troy ounce Au, US$24 per troy ounce Ag
(3)	Gold and silver equivalents calculated at 1:60 gold to silver
(4)	Gold and silver equivalent ounces are not additive

The SEC Industry Guide 7 mineralized material estimate for Los Azules totals 78,000 tonnes at silver and gold grades of 155 gpt and 3.0 gpt, respectively, using the cut-off grade and metals prices provided in the table above.

Golden Minerals has the right to acquire the Santa Maria and Los Azules properties under separate purchase option agreements.

Jeffrey G. Clevenger, Chairman, President and Chief Executive Officer of Golden Minerals, said, "One of Golden Minerals' top priorities is to establish a second set of mines in Mexico, which could include Santa Maria, Los Azules or other properties currently under evaluation. Our first priority is to accomplish a smooth and profitable restart of the Velardena Properties, which I am pleased to say is going well."

Tetra Tech is an independent engineering firm that served as principal author of the mineral resource estimate prepared on behalf of the Company. Geoff Elson is the independent Qualified Person from Tetra Tech who reviewed and approved this press release.

An NI 43-101-compliant technical report will be filed on SEDAR (www.sedar.com) and made available on the Golden Minerals website within 45 days.

About Golden Minerals

Golden Minerals is a Delaware corporation based in Golden, Colorado. The Company is primarily focused on mining its Velardena Properties and the exploration of properties in Mexico and Argentina.

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