Targets in the Quevar South and Quevar North areas were selected based on surface samples and geology in the search for additional silver resources. Results have been received for 13 of the 16 drill holes. Results from drill holes QVD-373 to QVD-377, QVD-379 to QVD-382, and QVD-384 to QVD-385 returned no significant values. Results from three holes are pending. Final results will be posted to the Company's website once received and verified. Golden Minerals controls approximately 55,000 hectares of mineral rights in the El Quevar district located 150 kilometers northwest of Salta, Argentina.
Jeffrey Clevenger, Chairman, President and Chief Executive Officer, noted, "We are delighted with the results of the recent reconnaissance drill program at El Quevar as it supports our long-standing thesis that El Quevar exhibits characteristics of an emerging new silver district."
Review by Qualified Person and Quality Control
The technical contents of this press release have been reviewed by Robert Blakestad, M.Sc., P. Geo., L.P.G., a Qualified Person for the purposes of Canadian National Instrument 43-101. Mr. Blakestad has over 42 years of mineral exploration experience and is a Professional Geoscientist and a member of the Society for Mining Metallurgy and Exploration.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 certified 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 analysis is performed at an independent ISO 9001:2001 certified laboratory in Mendoza, Argentina. Pulp splits of mineralized intervals are re-assayed at certified independent referee laboratories in Chile and Canada. About Golden Minerals Golden Minerals Company is a Delaware corporation based in Golden, Colorado, primarily engaged in silver and gold mining at its Velardena Operations in Mexico and advancement of the evaluation stage El Quevar project in Argentina. Forward Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act and applicable Canadian securities legislation, including statements regarding the exploration results and programs at the El Quevar project, including potential exploration activities, anticipated further drilling activities, and interpretations of drilling results of infill drilling. These statements are subject to risks and uncertainties, including results of exploration including potential additional drilling at El Quevar; changes in geological, geostatistical and other interpretations of the Yaxtche deposit and Quevar South and Quevar North targets; unfavorable interpretations of geologic information; availability of drills; unexpected variations in mineral grade, types and metallurgy; fluctuations in silver, gold, zinc, lead and other metal prices; technical and permitting issues; increases in cost or other problems that might negatively affect the Company in conducting potential drilling and exploration activities and otherwise advancing the El Quevar project; and financial market conditions. Golden Minerals Company assumes no obligation to update this information. Additional risks relating to Golden Minerals Company may be found in the periodic and current reports filed with the Securities Exchange Commission by Golden Minerals Company, including the Company's Annual Report on Form 10-K for the year ended December 31, 2011. For additional information please visit http://www.goldenminerals.com/ or contact: Golden Minerals Company Karen WinklerDirector of Investor Relations(303) 839-5060 SOURCE Golden Minerals Company