X0306 4 2016-01-14 0 0001025362 GOLDEN QUEEN MINING CO LTD GQM 0001008274 CLAY LANDON T C/O EAST HILL MANAGEMENT CO., LLC 70 MAIN STREET, SUITE 300 PETERBOROUGH NH 03458 0 0 1 0 Common Stock 2016-01-14 5 G 0 E 17047739 0 D 4663 D Common Stock 2016-01-14 5 G 0 E 17047739 0 A 17047739 I By grantor retained annuity trust Common Stock 1344269 I By trust Common Stock 807250 I By trust Common Stock 26114 I By corporation Common Stock 2351 I By spouse On January 14, 2016, the reporting person transferred an aggregate of 17,047,739 shares of common stock of the issuer into the Landon T. Clay 2016-2 Annuity Trust u/a dated January 14, 2016 (the "2016-2 GRAT") for the benefit of himself. The reporting person's son, Thomas M. Clay, is the sole trustee under the 2016-2 GRAT. Represents shares owned by the Monadnock Charitable Lead Annuity Trust dated May 31, 1996 ("Monadnock"). The reporting person is the donor of the assets to Monadnock. Brian James is the trustee of Monadnock and each of the reporting person's sons has a beneficial interest in Monadnock. The reporting person provides investment advisory services to Monadnock. The reporting person disclaims beneficial ownership of the shares held by Monadnock. Represents shares owned by Arctic Coast Petroleums, Ltd. ("Arctic Coast"). The reporting person owned 50% of Arctic Coast and transferred his interest in Arctic Coast on October 22, 2009 to the Clay Family 2009 Irrevocable Trust dated April 14, 2009 which owns 50% of Arctic Coast. The reporting person disclaims beneficial ownership of the shares held by Arctic Coast Represents shares owned by LTC Corporation which is wholly owned by the reporting person. Represents shares owned by the reporting person's spouse, Lavinia D. Clay. The reporting person disclaims beneficial ownership of the shares held by his spouse. /s/ Landon T. Clay 2016-01-19