Golden Minerals Releases Updated PEA for Velardeña Property

Golden Minerals (TSX:AUMN,NYSEAMERICAN:AUMN) announced the release of an updated resource estimate and updated preliminary economic assessment (PEA) for its silver-gold Velardeña property in Mexico.

Highlights of the PEA are as follows:

• Pre-tax net present value (“NPV”): (US)$85.9 million at an 8% discount rate
• Pre-tax Internal rate of return (“IRR”): 138.6%
• Pre-tax Payback period: 1 year
• Total pre-production capital cost: $10.27 million, including 10% contingency*
• Post-production and sustaining capital: $15.93 million, including 10% contingency
• Pre-production development time: 1 year
• Life of mine (“LOM”): 10 years
• LOM contained silver: 12.3 Moz; LOM contained gold: 188 Koz
• LOM average silver grade: 337 grams per tonne (“g/t”); LOM average gold grade: 5.15 g/t
• LOM pre-tax free cash flow: $130.2 million
• LOM payable silver: 10.2 Moz; LOM payable gold production: 119 Koz
• LOM payable Ageq: 19.7 Moz (Au and Ag only at a ratio of 80Ag:1Au)

Click here for the full Golden Minerals (TSX:AUMN,NYSEAMERICAN:AUMN) press release.