Golden Minerals Company Reports Q4 and FY 2022 Gold Production

Rhea-AI Summary

Golden Minerals Company (AUMN) has released its production data for the fourth quarter and full year 2022 from the Rodeo gold-silver mine in Mexico. Key highlights include 2,398 ounces of payable gold and 13,560 ounces of payable silver produced in Q4. For FY 2022, the company reported a total of 11,982 ounces of gold and 52,179 ounces of silver. Average gold grade for Q4 was 2.0 g/t Au, with a recovery rate of 73.3%. Realized prices for gold and silver in Q4 were $1,729/oz and $21.69/oz, respectively.

Positive

• Payable gold production of 2,398 oz in Q4 and 11,982 oz in FY 2022.
• Payable silver production of 13,560 oz in Q4 and 52,179 oz in FY 2022.
• Average gold grade of 2.0 g/t Au in Q4.

Negative

• Gold recovery decreased to 73.3% in Q4 from 74.7% in FY 2022.
• Average gold grade processed dropped from 3.1 g/t in Q1 to 2.0 g/t in Q4.

GOLDEN, Colo.--(BUSINESS WIRE)-- Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American: AUMN) (TSX: AUMN) has reported production data from its Rodeo gold-silver mine (Durango State, Mexico) for the fourth quarter ending December 31, 2022 and full year 2022. Summary highlights include the following:

• Payable gold production: 2,398 oz Au in Q4 and 11,982 oz Au in FY 2022
• Payable silver production: 13,560 oz Ag in Q4 and 52,179 oz in FY 2022
• Payable gold equivalent production: 2,568 AuEq oz in Q4 and 12,616 AuEq oz in FY 2022
• Average gold grade: 2.0 g/t Au in Q4 and 2.6 g/t in FY 2022
• Throughput (tonnes per day processed): 573 tpd in Q4 and 536 g/t in FY 2022
• Gold recovery: 73.3% in Q4 and 74.7% in FY 2022
• Silver recovery: 82.0% in Q4 and 81.2% in FY 2022
• Realized gold/silver prices (before selling and refining costs): $1,729/oz Au and $21.69/oz Ag in Q4; $1,805/oz Au and $21.93/oz Ag in FY 2022

Rodeo Operations Statistics
		Q1 2022				Q2 2022				Q3 2022				Q4 2022				FY 2022
Tonnes mined (1)			203,591				213,925				192,545				161,424				771,485
Tonnes in stockpiles awaiting processing (2)			10,898				21,713				23,618				31,381				31,381
Tonnes in low grade stockpiles (3)			88,559				95,932				121,202				193,479				193,479
Tonnes processed			47,437				47,479				47,947				52,736				195,599
Average tonnes per day processed			527				522				521				573				536
Average gold grade processed (grams per tonne)			3.1				2.6				2.6				2.0				2.6
Average silver grade processed (grams per tonne)			11.6				10.4				10.4				10.2				10.6
Plant recovery - gold (%)			75.4				75.1				74.6				73.3				74.7
Plant recovery - silver (%)			82.8				82.3				77.6				82.0				81.2
Payable gold produced in dore (ounces)			3,608				3,004				2,972				2,398				11,982
Payable silver produced in dore (ounces)			13,944				12,768				11,907				13,560				52,179
Payable gold equivalent produced in dore (ounces) (4)			3,787				3,158				3,103				2,568				12,616
Gold sold in dore (ounces)			3,855				3,060				3,018				2,518				12,451
Silver sold in dore (ounces)			14,481				13,180				11,609				14,217				53,486
Gold equivalent sold in dore (ounces) (4)			4,040				3,219				3,145				2,696				13,101
Average realized price, before refining and selling costs
Gold (dollar per ounce)		$	1,887.65			$	1,864.99			$	1,703.10			$	1,729.40			$	1,805.34
Silver (dollar per ounce)		$	24.24			$	22.49			$	18.72			$	21.69			$	21.93

Notes:
(1) Includes all mined material transported to the plant, stockpiled or designated as waste
(2) Includes mined material stockpiled at the mine or transported to the plant awaiting processing in the plant
(3) Material grading between 1.6 g/t (current cutoff grade) and 1 g/t Au held for possible future processing
(4) Gold equivalents based on realized $ Au and $ Ag price

About Golden Minerals

Golden Minerals is a growing gold and silver producer based in Golden, Colorado. The Company is primarily focused on producing gold and silver from its Rodeo Mine and advancing its Velardeña 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.

Follow us at www.linkedin.com/company/golden-minerals-company/ and https://twitter.com/Golden_Minerals.

For additional information please visit http://www.goldenminerals.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230111005106/en/

Golden Minerals Company

Karen Winkler, Director of Investor Relations

(303) 839-5060

Source: Golden Minerals Company

FAQ

What were Golden Minerals' total gold and silver production figures for Q4 2022?

In Q4 2022, Golden Minerals produced 2,398 ounces of gold and 13,560 ounces of silver.

What is the average gold grade for Golden Minerals in Q4 2022?

The average gold grade for Q4 2022 was 2.0 grams per tonne.

What were the realized prices for gold and silver in Q4 2022 for AUMN?

The realized prices in Q4 2022 were $1,729 per ounce for gold and $21.69 per ounce for silver.

How much gold equivalent did Golden Minerals produce in FY 2022?

Golden Minerals produced 12,616 ounces of payable gold equivalent in FY 2022.