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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: Voting - Plan of Arrangement

As I previously stated, whatever ECU management decides, is good enough for me, and I have pledged my votes accordingly.

I do, however, have one "stupid?" question.

Why do ECU shareholders need to vote 66 2/3 in favour and AUM only needs a clear majority?

I know the plan states that ECU will become wholy-owned by AUM as opposed to a straight partnership, but I understand that when the smoke clears, ECU shareholders will own 51% of "Newco".

Please excuse my ignorance, but if anyone can throw light on my "stupid" question, I would be very appreciative.

Good Luck to all!

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