Golden Minerals Company announced the sale of the Company’s remaining 49% joint venture interest in the Platosa property to Excellon Resources Inc. (“Excellon”), for US $2.0 million in cash and a 1% net smelter return royalty. Previous agreements between the Company and Excellon, including a 2% net smelter return royalty previously granted, were terminated in this transaction. Definitive agreements have been executed, titles to the claims have been transferred and the US $2.0 million cash payment has been made by Excellon.
The Platosa property is located approximately 45 kilometers north of Torre?n, Mexico, outside of Golden Minerals Zacatecas project and the Company’s strategic area of interest. The Company’s Zacatecas Project, which encompasses about 15,000 hectares and currently includes four main target areas, is about 250 kilometers southeast of the Platosa property.