Warren M. Rehn, President and Chief Executive Officer of Golden Minerals Company, comments, “The Santa Maria project offers Golden Minerals a low capital cost re-entry into potential silver production in Mexico. Estimated future cash flow and NPV have increased by about 50% based on the additional resources in the study. The $1M start-up cost is at the lowest end of the spectrum of capital cost requirements due to the project’s proximity to existing process facilities and the existing underground development. It is also important to point out that the deposit is open at depth and there are numerous additional veins on the property that have not yet been drilled.”

Fred Stanford, President and CEO of Torex stated: “Our teams have worked very well together to achieve a number of common goals in the quarter. Safety performance has been strong. Record gold production speaks for itself. Mining output rates have ramped up to meet and exceed the increasing plant throughput rates. The SART plant is ramping up well and is now removing approximately 80% of the soluble copper in the process water, with associated reagent use savings. Sub-Sill production is approximately 500 t/d and on track to complete the ramp up to 850 t/d by year end.”

Antonio Berlanga, CEO, states “The development of these 6 production stopes within the Level 12 decline, plus the additional 6 stopes that will be developed soon from the Level 20 decline currently underway, ensures the Tahuehueto Mine development provides access to at least the first 2 years of ore production at the projected capacity of 1,000 tpd. This development also ensures a steady supply of above 10 g/t AuEq ore to be shipped to the Atocha Toll Mill to continue to generate sales of produced zinc and lead concentrates containing significant gold and silver content to be delivered to Trafigura under the Telson/Trafigura Off-take loan agreement.