Golden Minerals Prices Underwritten Public Offering And Concurrent Private Placement Of Common Stock And Warrants

GOLDEN, Colo., Sept. 5, 2014 /CNW/ -- Golden Minerals Company (NYSE MKT: AUMN) (TSX: AUM) ("Golden Minerals" or the "Company") today announced the pricing of a public offering of up to 3,692,000 units, each comprised of one share of its common stock and a five-year warrant to acquire one half of a share of its common stock at an exercise price of US$1.21 per share, at a unit price of $0.86, for gross proceeds of US$3.2 million, of which 3,160,000 units are firmly committed and  532,000 are being offered on a best efforts basis.  After the underwriting and placement discount, respectively, and estimated offering expenses payable by the Company, Golden Minerals expects, presuming issuance of 3,692,000 units, to receive net proceeds of approximately $2.7 million.  The offering is expected to close on September 10, 2014, subject to customary closing conditions.

Golden Minerals Company News Release Logo.

Roth Capital Partners is acting as the sole book-running manager for the offering and H.C. Wainwright & Co., LLC is acting as co-manager for the offering.

Golden Minerals intends to use the net proceeds from the offering for exploration expenditures primarily related to properties in Mexico, and for other working capital requirements and general corporate purposes.

The units described above are being offered by Golden Minerals pursuant to a shelf registration statement on Form S-3, including a base prospectus, previously filed with, and declared effective by, the Securities and Exchange Commission ("SEC").  A prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.  Copies of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by accessing the SEC's website, www.sec.gov.

The Sentient Group, the Company's largest stockholder, has informed the Company that it intends to purchase, in a private offering pursuant to Regulation S under the U.S. Securities Act of 1933, approximately 5.8 million units, each comprised of one share of common stock and a five-year warrant to acquire one half of a share of common stock at an exercise price of US$1.21, at a unit price of US$0.86, for gross proceeds of US$5.0 million.  Net proceeds of the private offering, after discounts and estimated offering costs, would be approximately US$4.6 million.  The Company intends to use the proceeds of the private offering for the purposes described above.  The Company expects the private offering to be completed on or about September 10, 2014, subject to certain conditions including the conditions specified above.

About Golden Minerals

Golden Minerals is a Delaware corporation based in Golden, Colorado.  The Company is a mining and exploration company with properties in Argentina and Mexico.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and applicable Canadian securities laws, including statements regarding the anticipated completion of public offering and private placement and the intended use of proceeds from the offering and the private offering.  The forward-looking statements are subject to risks and uncertainties, including whether the proposed offering and private offering are completed, whether required approvals are received, disruptions in the financial markets, changes in the use of proceeds due to unanticipated developments and other factors that may cause actual results, performance or achievements to be materially different those expressed or implied.  Golden Minerals assumes no obligation to update any forward-looking statements.  Additional risks relating to Golden Minerals may be found in the periodic and current reports filed with the SEC and Canadian securities regulatory authorities by Golden Minerals, including the Company's Annual Report on Form 10-K for the year ended December 31, 2013.

For additional information please visit http://www.goldenminerals.com/ or contact:

Golden Minerals Company
Karen Winkler
Director of Investor Relations
303-839-5060

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SOURCE Golden Minerals Company