Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE-A: AUMN and TSX: AUMN) today announced that on June 6, 2023, the Company was notified by the NYSE American LLC (the “NYSE American”) that it was not in compliance with one of NYSE American’s continued listing standards as set forth in Part 10 of the NYSE American Company Guide (the “Company Guide”). Specifically, the Company is not in compliance with Section 1003(a)(iii) of the Company Guide since it reported stockholders’ equity of less than $6.0 million as of March 31, 2023 and losses from continuing operations and/or net losses in its five most recent fiscal years. In order to maintain its listing on the NYSE American, the Company was asked to submit a plan of compliance no later than July 6, 2023 advising how the Company intends to regain compliance with Section 1003(a)(iii) of the Company Guide by December 6, 2024. The Company intends to prepare and timely submit its plan of compliance to the NYSE American.

The notification from the NYSE American has no immediate effect on the Company’s common stock or its business operations. The Company’s common stock will continue to be listed on the NYSE American under the symbol “AUMN” while it regains compliance with Section 1003(a)(iii) of the Company Guide, subject to the Company’s compliance with other continued listing requirements.

About Golden Minerals

Golden Minerals is a gold and silver producer based in Golden, Colorado. The Company is primarily focused on producing gold and silver from its Rodeo Mine, advancing its Velardeña and Yoquivo properties in Mexico and, through partner-funded exploration, its El Quevar silver property in Argentina, as well as acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.

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 applicable Canadian securities legislation, including statements regarding submission of the plan of compliance with the NYSE American. These statements are subject to risks and uncertainties, including: whether the plan of compliance will be timely submitted to the NYSE American, whether such plan of compliance will be approved by the NYSE American, and other factors that may cause actual results, performance or achievements to be materially different than those expressed or implied. 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 Securities Exchange Commission by Golden Minerals, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 and the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023.

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