Golden Minerals announces definitive agreement to sell El Quevar silver project

Golden Minerals announces that further to its press release dated September 3, it has entered into a definitive agreement to sell Silex Argentina S.A., its wholly-owned subsidiary, to Butte Energy. Butte has agreed to purchase 100% of the issued and outstanding shares of Silex, which is the sole owner of the company’s El Quevar silver project located in Salta Province, Argentina. The definitive agreement is binding on the parties, pending closing of the sales transaction on or prior to October 31, 2024. The purchase price for the acquisition of 100% of Silex is $3,500,000, payable in cash, as follows: $500,000, as a non-refundable deposit, which was paid on September 3, 2024; $500,000, payable to Golden prior to the close of business on September 27, 2024; and $2,500,000 payable to Golden upon closing of the transaction. Closing of the transaction will be subject to additional conditions, including receipt of regulatory approvals.