Golden Minerals Closes $3.0M Sale of Celaya Property
September 04 2018 - 6:45AM
Golden Minerals Company (“Golden Minerals”, “Golden” or “the
Company”) (NYSE American and TSX: AUMN) is pleased to announce it
has sold, through its wholly owned Mexican subsidiary, its
remaining interest in the Company’s Celaya exploration property to
a Mexican subsidiary of The Electrum Group LLC (“Electrum”).
Golden Minerals will receive a payment of US$3.0
million in exchange for selling 100% of its remaining mining
concessions and related interests in the Celaya silver and gold
project located in Guanajuato, Mexico to Electrum. The funds will
be used to further exploration activities at the Company’s El
Quevar silver project in Argentina as well as other exploration
projects in Mexico.
“The addition of $3.0 million cash to our
treasury will position us to continue our exploration programs in
Mexico and Argentina without the need for additional financing,”
commented Golden’s President and Chief Executive Officer Warren M.
Rehn.
About Golden Minerals
Golden Minerals is a Delaware corporation based
in Golden, Colorado. The Company is primarily focused on advancing
its El Quevar property in Argentina and in acquiring and advancing
mining properties in Mexico with emphasis on areas near its
Velardeña processing plants.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended, and applicable Canadian securities
legislation, including statements relating to the Company’s
expectations regarding the use of funds from the sale of the Celaya
property and the Company’s expectations regarding its advancement
of its El Quevar property in Argentina and other exploration
opportunities in Mexico. Golden Minerals assumes no obligation to
update this information. Additional risks relating to Golden
Minerals may be found in the periodic and current reports filed
with the SEC by Golden Minerals, including the Company’s Annual
Report on Form 10-K for the year ended December 31, 2017.
For additional information please visit
http://www.goldenminerals.com/ or contact:
Golden Minerals Company
Karen Winkler, Director of Investor Relations
(303) 839-5060
Investor.relations@goldenminerals.com
SOURCE: Golden Minerals Company
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