0001047469-09-010231 Sample Contracts

SHAREHOLDERS AGREEMENT
Shareholders Agreement • November 16th, 2009 • Golden Minerals Co • Gold and silver ores • Salta

This SHAREHOLDERS AGREEMENT is made between MH Argentina S.A., on the one hand (hereinafter "MHA"), CUIT No 30-70742239-0, a duly registered Argentine company, with domicile at 1385 Granaderos Street, Mendoza, Argentina, represented in this act by Mr. JASON THOMAS TEAGUE CUNLIFFE, a British citizen, Document No 5046115 and British Passport No 005865593, acting as President, and, on the other hand, SILEX Argentina S.A. (hereinafter "SILEX"), CUIT No 30-70914253-0, a duly registered Argentine company, with domicile at 376 Balcarce Street, Floor 1, Salta, Argentina, represented in this act by Mr. NÉSTOR ÁLVAREZ, N.I.C. No 14.714.657, acting as Director President under the company's bylaws. This Agreement shall be governed by the following Terms and Conditions:

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