Golden Minerals Reports First Quarter 2025 Financial Results

Golden Minerals Company (“Golden Minerals,” “Golden” or the “Company”) (OTCQB: AUMN and TSX: AUMN) has reported financial results and a business summary for the quarter ending March 31, 2025. (All figures are in approximate U.S. dollars.)

Q1 2025 Financial Summary

• Exploration expenses were $0.1 million in the first quarter 2025, vs. $0.1 million in the first quarter 2024.
• Administrative expenses were $0.7 million in the first quarter 2025 vs. $1.0 million in the first quarter 2024.
• Loss from discontinued operations, net of taxes, was $0.4 million in the first quarter 2025 vs. $3.3 million in the first quarter 2024.
• Net loss was $1.2 million or $0.08 per share in the first quarter 2025, compared to a net loss of $4.6 million or $0.32 per share in the first quarter 2024.
• Cash and equivalents balance was $3.5 million as of March 31, 2025 vs. $3.2 million as of December 31, 2024.
• Debt was zero as of March 31, 2025, unchanged from December 31, 2024.

Q1 2025 Business Summary

The Company has achieved a significant reduction in liabilities and a meaningful decrease in cost structure through its restructuring efforts in 2024 which continued into the first quarter of 2025. These combined actions allowed us to strengthen our balance sheet and preserve capital, enabling us to shift focus toward our most promising exploration assets as further described below. We expect the restructuring actions to be completed once the remaining sales agreement for the Velardeña assets is completed, which we anticipate happening in the second quarter.

The Desierto project, located in the Puna geological region of Salta Province, Argentina, has been the subject of surface exploration that identified zones of alteration, including clay and silica-rich areas typically associated with precious metal systems. Rock sampling in multiple zones has returned anomalous gold and silver values, and the alteration patterns suggest the presence of a potentially larger mineralizing system at depth. The Company anticipates initiating a Phase I drill program targeting extensions of gold mineralization identified at the adjacent Sarita Este project. The Company is working to complete joint venture documentation and plans to continue to integrate prior drilling data to refine its regional geological model.