Golden Minerals* (AUM : TSX : $3.67), Net Change: 0.23, % Change: 6.69%, Volume: 130,044

High five for high grade!

Shares of Golden Minerals rallied after the company announced high grade resource estimate for the Velardena Property in Mexico. The measured and indicated resource at Velardena was reported at 2.3 million tonnes at grades of 3.46 grams per tonne of gold and 195 grams per tonne of silver. The new resource estimate demonstrates significantly higher grades (approximately 50% on a gold/silver equivalent basis) than previous estimates. Previously, estimates were for greater tonnes at significantly lower grades and slightly higher total ounces. Jeffrey G Clevenger, President and CEO, commented, "Golden Minerals is fortunate to have a near term cash generating project in this current down turn for the junior sector. Higher grades identified with our new resource estimate at Velardena will only facilitate our goals of becoming financially self sufficient."