The following email reply was received from Investor Relations after my informational request.

See my post of Nov 22, 11 01:16PM

GOLDEN MINERALS has my confidence once again........

"You will appreciate that we cannot speculate on the reasons for movement in Golden’s share price, or of similar share price forecasts. However please know that Golden is working hard on execution of its business plan and is pleased to be making strides on all fronts. We believe that successful execution of our business plan is the best way to ultimately reward shareholders, and to that extent we are presently focused on the following activities. I would like to point you to our third quarter 2011 10-Q and related press release for a fuller discussion of these items and more. The press release may be found on the home page of our website at http://www.goldenminerals.com/, and the 10-Q may be found on the SEC filings page at http://www.goldenminerals.com/investor_secfilings.php.

At the Velardeña Operation in Mexico, we have already (since our acquisition of this property from ECU Silver in September 2011) seen marked head grade improvements for silver (+45%) and gold (+24%). Process improvement work has resulted in silver recoveries increasing from 54% to 73%. We have completed over 600M of new mine development and have $6M of modern equipment en route to Velardeña to further aid production advancements. In addition, an NI 43-101 resource estimate is in progress, with completion expected around year-end. We have outlined plans for a three-year ramp-up in production and a new 2,000 tonne per day sulfide plant.

At the El Quevar project in Argentina, geologic data evaluation continues to best determine a mining plan. A 50-hole drill program in the West Yaxtché zone is now more than half complete, with over 30 holes drilled. We have received results for 13 of the holes, of which 10 have intersected five or more meters of values in excess of 100 grams per tonne silver. An updated NI 43-101 is underway for this property as well, with completion expected around year-end.

Lastly, drilling is underway at other exploration properties: Zacatecas in Mexico, Cochabamba in Peru and Atlas in Argentina.

With regards to the two conferences you mentioned, our executives met with over 90 investors and professionals, and a corporate presentation was given at the Dahlman conference.

Thank you for your enquiries.

Best regards,

Karen Winkler

Investor Relations Manager

Golden Minerals Company

350 Indiana Street, Suite 800

Golden, CO 80401

tele: 303.764.9170

karen.winkler@goldenminerals.com