Golden Minerals Sells Two Mexican Properties to Industrias Peñoles

Date : 12/20/2019 @ 11:50AM
Source : GlobeNewswire Inc.
Stock : Golden Minerals Co (AUMN)
Quote : 0.2591  -0.0025 (-0.96%) @ 12:59AM

Golden Minerals Sells Two Mexican Properties to Industrias Peñoles

Golden Minerals (AMEX:AUMN)
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2 Months : From Dec 2019 to Feb 2020

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Golden Minerals Company (NYSE American and TSX: AUMN) (“Golden Minerals”, “Golden” or “the Company”) announced today that it has received $3.0M for the sale of two non-strategic Mexican exploration properties to a subsidiary of Industrias Peñoles.

The Mogotes and Pistachon properties are located near the Company’s Velardeña Properties in Durango State, Mexico and adjacent to mineral concessions controlled by subsidiaries of Industrias Peñoles.  None of the claims contain any identified mineral resources.  

Mr. Warren Rehn, President and Chief Executive Officer of Golden Minerals, said, “We are very pleased to conclude the sale of these non-core concessions to Peñoles.  The cash received will enable us to advance our key exploration projects in Mexico and Nevada.”

About Industrias Peñoles S.A.B. de C.V.

Industrias Peñoles is a mining group with integrated operations for the smelting and refining of non-ferrous metals and the production of chemical products. Peñoles is part of Grupo BAL, a private and diversified organization composed of independent Mexican companies. Peñoles shares have been listed on the Mexican Stock Exchange since 1968 under the code: PE & OLES, and are part of the Price and Quotation Index, and the new Sustainable CPI.

About Golden Minerals

Golden Minerals is a Delaware corporation based in Golden, Colorado. The Company is primarily focused on advancing its Velardeña Properties in Mexico and its El Quevar silver property in Argentina, as well as acquiring and advancing mining properties in Mexico and Nevada. 

For additional information please visit http://www.goldenminerals.com/ or contact:

Golden Minerals CompanyKaren WinklerDirector of Investor Relations(303) 839-5060

SOURCE: Golden Minerals Company

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