GOLDEN, Colo., May 15, 2020 — Golden Minerals Company (NYSE American and TSX: AUMN) (“Golden Minerals”, “Golden” or “the Company”) is pleased to announce the filing on SEDAR of a Preliminary Economic Assessment (“PEA”) and accompanying Technical Report for its Velardeña Properties, a silver-gold project located in Durango State, Mexico. The report, entitled “Preliminary Economic Assessment NI 43-101 Technical Report of the Velardeña Project, Durango State, Mexico” is dated May 8, 2020 and was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects by the independent firm of Tetra Tech.