X0306 4 2018-05-15 0 0001025362 GOLDEN QUEEN MINING CO LTD GQM 0001728440 Estate of Landon Thomas Clay C/O EAST HILL MANAGEMENT COMPANY, LLC 70 MAIN STREET, SUITE 300 PETERBOROUGH NH 03458 0 0 1 0 Common Stock 2018-05-15 5 W 0 E 4663 0 D 118415009 D Common Stock 2018-06-05 4 J 0 248082 0 A 118663091 D Common Stock 2018-06-05 4 J 0 248082 0 D 0 I By corporation Represents shares of common stock of Golden Queen Mining Co. Ltd. (the "Issuer") that were held in an individual retirement account in the name of Mr. Landon Thomas Clay (the "IRA"). Ownership of these shares of common stock passed to Mr. Landon Thomas Clay's spouse following the death of Mr. Landon Thomas Clay in July 2017. Represents shares of common stock of the Issuer held by LTC Corporation ("LTC Corp"). The Reporting Person is the sole stockholder of LTC Corp following the death of Mr. Landon Thomas Clay in July 2017. On June 5, 2018, LTC Corp distributed all of its shares of common stock of the Issuer to the Reporting Person. Following this distribution the Reporting Person will report these shares of common stock of the Issuer as being directly beneficially owned. /s/ Thomas M. Clay, Executor 2018-06-07