Golden Minerals Provides Initial Results From Rodeo Drill Program

GOLDEN, Colo., Sept. 1, 2016

The partial results from our first round of drilling at Rodeo show a gold and silver bearing epithermal vein and breccia system with encouraging gold and silver values over an approximate 50 to 70 meter true width.  The system is exposed at the top of a northwesterly striking ridge and dips steeply to the northeast.  This could provide the possibility of open pit mining if we discover a deposit with sufficient tonnage of an appropriate grade and other characteristics to justify mining. 

In June 2016, the Company began a 2,000-meter core drilling program at the Rodeo 1,900-hectare gold project located approximately 80 kilometers west of the Company's Velardena Properties. Results are available from the first five holes of the 12-hole program.  

The drill holes reported are spaced about 25 meters apart along 100 meters of the crest of the mineralized ridge.  The drill holes are angle holes oriented at minus 55 degrees to the southwest and cut the vein and breccia system at an angle of approximately 50 degrees.  Previous work has shown the mineralized system to be exposed at surface over about one kilometer of strike length.

The table below shows for each hole information regarding the entire mineralized interval in the first line, followed by the higher grade zone or zones for that hole in the second and third lines.  Holes five and six were drilled from the same location as hole seven but were abandoned short of completion due to difficult drilling conditions.