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GOLDEN MINERALS COMPANY 350 Indiana Street – Suite 800 – Golden, Colorado 80401 – Telephone (303) 839‐5060 – Fax (303) 839‐5907
4521365.1
GOLDEN MINERALS ACQUIRES NAVEGANTES SILVER EXPLORATION PROJECT
Golden, Colorado ‐ /Globe Newswire/– November 15, 2018 – Golden Minerals Company (NYSE American and TSX: AUMN)
(“Golden Minerals”, “Golden” or “the Company”) is pleased to announce it has acquired the Navegantes project in
southern Chihuahua state, Mexico, where recent surface and underground sampling have returned high‐grade silver
values from a series of epithermal silver‐base metal veins outcropping on the property.
Navegantes sampling highlights:
1 meter (“m”) assaying 1,585.5 g/t Ag
1.45m assaying 759.2 g/t Ag
1.1m assaying 638.9 g/t Ag
2.1m assaying 472 g/t Ag
The project consists of six concessions totaling 521 hectares and is located approximately 60km northwest of the
San Francisco del Oro‐Santa Barbara District where the company’s Santa Maria project is located. Initial sampling
and mapping have identified extensive zones of oxidized and leached epithermal quartz veining over an 800m strike
length that has delivered high silver grades.
Figure 1: Navegantes project location
Figure 1, “Navegantes project location”, may also be viewed here: http://www.goldenminerals.com/drill_testing.php
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GOLDEN MINERALS COMPANY 350 Indiana Street – Suite 800 – Golden, Colorado 80401 – Telephone (303) 839‐5060 – Fax (303) 839‐5907
Mr. Warren Rehn, President and Chief Executive Officer of Golden Minerals, said; “Navegantes is an exciting prospect
that hasn’t been systematically explored even though it is located in an area of several modern major discoveries. We
were pleasantly surprised by the high‐grade surface silver assays from heavily weathered and leached veins outcropping
on the surface.
“This project was identified by our generative exploration team that is searching for under‐explored projects in central
Mexico to allow the company to add high‐quality, early‐stage projects that can be advanced quickly to create value for
our shareholders.”
Figure 2: Major mines and development projects close to the Navegantes project
Figure 2, “Major mines and development projects close to the Navegantes project”, may also be viewed here:
http://www.goldenminerals.com/drill_testing.php
The mineralization occurs as iron oxides, within quartz veins that range up to 2m in width and are exposed over
strike lengths in excess of 800m. Based on historic mines and prospects in the San Francisco del Oro‐Santa Barbara
and Hidalgo de Parral districts, we believe there exists excellent potential to define significant silver mineralization
at depth.
Golden Minerals collected 103 surface and underground chip channel and grab samples from vein exposures, mine
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GOLDEN MINERALS COMPANY 350 Indiana Street – Suite 800 – Golden, Colorado 80401 – Telephone (303) 839‐5060 – Fax (303) 839‐5907
workings and mine dumps. Results from this initial sampling program are summarized in Table 1, with surface sample
results shown in Figure 3.
Table 1: Results from the 2018 Navegantes sampling program
Complete results are available on the Golden Minerals website at http://goldenminerals.com/drill_testing.php, as are
Channel ID Vein Width (m) Ag (g/t) Pb (ppm) Zn (ppm)
NAV_U_01 San Pedro 1.5 14 74 339
NAV_U_02 San Pedro 1.3 6 33 221
NAV_U_03 San Pedro 1.2 8 25 145
NAV_U_04 San Pedro 2.5 73 28 157
NAV_U_05 San Pedro 0.8 519 1739 328
NAV_U_06 San Pedro 1.1 352 1055 1295
NAV_U_07 San Pedro 1.2 178 113 706
NAV_U_08 San Pedro 1.0 1586 70 175
Inc. San Pedro 0.7 1965 69 189
NAV_U_09 San Pedro 1.5 759 69 79
Inc. San Pedro 0.4 1600 72 79
Nav_01 San Pedro 1.3 85 15804 1055
Nav_02 San Pedro 2.2 16 125 133
Nav_03 Navegantes 2.1 472 22 199
Inc. Navegantes 0.9 608 15 200
Nav_04 Navegantes 2.0 201 837 421
Inc. Navegantes 1.0 268 655 186
Nav_05 Navegantes 1.5 37 103 95
Nav_06 Navegantes 1.4 261 28 218
Inc. Navegantes 0.6 406 33 261
Nav_07 Navegantes 1.4 48 257 223
Nav_08 Navegantes 1.5 73 851 179
Nav_09 Navegantes 1.7 14 325 384
Nav_10 San Pedro 1.1 639 31 104
Inc. San Pedro 0.6 1135 43 165
Nav‐16 Dump Sample 197 7690 687
Nav‐17 Dump Sample 205 5270 522
Nav‐18 Dump Sample 438 4030 458
Nav‐19 Dump Sample 606 2160 355
Nav‐20 Dump Sample 951 4870 446
Nav‐21 Dump Sample 475 469 251
Nav‐31 Dump Sample 358 22 209
Nav‐52 Dump Sample 285 2180 637
Nav‐53 Dump Sample 211 944 386
Nav‐51 New vein 0.3 134 1920 165
Nav‐61 New vein 0.9 268 28 147
SP‐1 San Pedro 0.9 278 26 159
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GOLDEN MINERALS COMPANY 350 Indiana Street – Suite 800 – Golden, Colorado 80401 – Telephone (303) 839‐5060 – Fax (303) 839‐5907
more detailed surface maps.
Figure 3: Navegantes sample locations and silver assays
Figure 3, “Navegantes sample locations and silver assays”, may also be viewed here:
http://www.goldenminerals.com/drill_testing.php
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GOLDEN MINERALS COMPANY 350 Indiana Street – Suite 800 – Golden, Colorado 80401 – Telephone (303) 839‐5060 – Fax (303) 839‐5907
Next Steps
Golden is currently conducting additional mapping and sampling on the property to identify prospective targets for
follow‐up testing by trenching and/or drilling.
About Navegantes
Golden Minerals holds an option to purchase six concessions totaling 521 hectares by paying $0.4M over three years.
The property is located in southwestern Chihuahua state, in northern Mexico. The project covers two vein systems
(Navegantes and San Pedro‐San Francisco) as well as a number of smaller subsidiary veins. The property is located 68km
northwest of Grupo Mexico’s Santa Barbara operation (6,000 tonnes per day) and 63km northwest of Frisco’s San
Francisco Mine (4,000 tonnes per day). The project is also 61km south of Sunshine Mining’s Los Gatos project. The
Navegantes property covers an underexplored epithermal precious silver‐base metal district that shows similar
mineralization to the adjacent Parral Mining District. The Company, through systematic exploration, hopes to identify
significant high‐grade mineralization.
Review by Qualified Person and Quality Control
The technical contents of this press release have been reviewed by Warren M. Rehn, M.Sc., a Qualified Person for the
purposes of Canadian National Instrument 43‐101. Mr. Rehn has over 33 years of mineral exploration experience and is a
QP member of the Mining and Metallurgical Society of America.
To ensure reliable sample results, Golden Minerals uses a quality assurance/quality control program that monitors the
chain‐of‐custody of samples and includes the insertion of blanks, duplicates and reference standards in each batch of
samples. Core is photographed and sawn in half with one half retained in a secured facility for verification purposes.
Sample preparation (crushing and pulverizing) is performed at an independent ISO 9001:2001 certified laboratory in
Chihuahua or Zacatecas, Mexico. Prepared samples are direct‐shipped to an ISO 9001:2001 certified laboratory in
Canada.
About Golden Minerals
Golden Minerals is a Delaware corporation based in Golden, Colorado. The Company is primarily focused on advancing
its El Quevar silver property in Argentina and on acquiring and advancing mining properties in Mexico with emphasis on
areas near its Velardeña processing plants.
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 relating to the Company’s plans for systematic exploration of the Navegantes claims
and the possibility of identifying significant high‐grade mineralization. These statements are subject to risks and
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GOLDEN MINERALS COMPANY 350 Indiana Street – Suite 800 – Golden, Colorado 80401 – Telephone (303) 839‐5060 – Fax (303) 839‐5907
uncertainties, including changes in interpretations of geological, geostatistical, metallurgical, mining or processing
information and interpretations of the information resulting from future exploration, analysis or mining and processing
experience, new information from exploration or analysis, unexpected variations in mineral grades, types and
metallurgy, fluctuations in silver metal prices, increases in costs and declines in general economic conditions, and changes
in political conditions, in tax, royalty, environmental and other laws in Mexico, and financial market conditions. Golden
Minerals assumes no obligation to update this information. Additional risks relating to Golden Minerals may be found in
the periodic and current reports filed with the Securities and Exchange Commission by Golden Minerals, including the
Company’s Annual Report on Form 10‐K for the year ended December 31, 2017.
Karen Winkler
Director of Investor Relations
(303) 764‐9170
SOURCE: Golden Minerals Company
