Golden Minerals enters LOI to sell Santa Maria claims for $1.5M plus royalty

Golden Minerals Co

Binding letter of intent with TSM for Santa Maria mining claims in Chihuahua, Mexico.
Consideration: $1.5M cash plus 1.5% NSR royalty capped at $1M.
TSM may buy back royalty for $500k before commercial production.
Definitive agreement target by Sep 25, 2023; 45-day due diligence period.
No payment due until definitive agreement is executed.

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