GOLDEN, CO, Feb 7, 2012 (Marketwire via COMTEX) –Golden Minerals Company (NYSE Amex: AUMN) (TSX: AUM) (“Golden Minerals” or “the Company”) is pleased to announce the appointment of Warren Rehn to the position of Vice President of Exploration. Golden Minerals also announces the planned retirement of Robert Blakestad, the Company’s Senior Vice President of Exploration, effective February 29, 2012.
Mr. Rehn has 30 years of mineral exploration experience. He was previously employed by Barrick Gold Exploration, most recently as the Chief Exploration Geologist for the Bald Mountain and Ruby Hill Mines. In this position he was responsible for planning and supervising gold exploration programs for intrusion-related and Carlin style deposits, with recent significant discoveries at both mine sites. Prior to joining Barrick, Mr. Rehn was a consultant with Gerson Lehman Group and for 10 years was a co-owner in a specialty geochemical consulting firm. Mr. Rehn has also worked as an exploration geologist with Placer Dome Exploration, Bear Creek Mining, Cyprus Amax, Bema Gold, Noranda Exploration and Gold Fields Mining Corporation. He has considerable exploration experience in the United States, Canada and throughout Latin America. Mr. Rehn holds a Bachelor of Science Degree in Geological Engineering from the University of Idaho and a Master of Science in Geology from the Colorado School of Mines.
Mr. Rehn will assume his new position on February 13, 2012. His responsibilities will include managing all aspects of Golden’s global exploration program. In addition, Mr. Rehn will lead Golden’s efforts to rationalize the Company’s exploration portfolio of approximately 80 projects in Mexico, Peru and Argentina. As was previously announced, the Company plans to monetize selected exploration assets to generate value as well as significantly reduce greenfield exploration expenditures going forward.
Jeffrey Clevenger, Golden Minerals Chairman, President and CEO, commented, “Warren has committed to aggressively move forward with rationalization of our exploration portfolio and is hitting the ground running. We are thrilled to have Warren join Golden Minerals and the experience that he will bring to the Company.”
Bob Blakestad has elected to retire after a distinguished career as an exploration geologist in the mining industry. He was instrumental in the discovery of Golden’s El Quevar project, and in assembling an impressive exploration portfolio for the Company. Mr. Clevenger commented, “Bob Blakestad has been a good friend and trusted advisor for many years. He has earned his well deserved retirement and all of us at Golden wish the very best for him.”
About Golden Minerals
Golden Minerals is an emerging precious metals producer with a large silver and gold resource base in Mexico and a large silver resource base in Argentina. The Company, which is a Delaware corporation, is listed on both the NYSE Amex and TSX. Golden Minerals is primarily engaged in the ramp-up and expansion of existing production at the Velardena Operations in Mexico and advancement of the El Quevar project in Argentina. The Company also has a large portfolio of exploration projects, including the advanced stage Zacatecas project in Mexico.
Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, and applicable Canadian securities laws, including the Company’s plans to monetize selected exploration assets, significantly reduce its greenfield exploration expenditures, and Warren Rehn’s role in leading these efforts. These statements are subject to risks uncertainties, including delays in or inability to generate value from the Company’s exploration portfolio or reduce its Greenfield exploration activities or costs, fluctuations in silver, gold, zinc and lead prices and general economic conditions and those affecting the mining and exploration businesses in Latin America. Additional risks relating to Golden Minerals Company may be found in the periodic and current reports filed with the Securities Exchange Commission by Golden Minerals Company, including the Annual Report on Form 10-K for the year ended December 31, 2010.
