Golden Minerals Company Files Registration Statement for Initial Public Offering

GOLDEN, CO--(Marketwire - October 15, 2009) - Golden Minerals Company (TSX: AUM) (PINKSHEETS: GDMN) ("Golden Minerals") announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock. The offered shares will include shares to be issued by Golden Minerals, as well as shares to be sold by certain of Golden Minerals' stockholders. The number of shares to be offered, the allocation of shares to be sold as between Golden Minerals and the selling stockholders, and the price range for the offering have not yet been determined. Golden Minerals has applied to list its common stock on the NYSE Amex.

Dahlman Rose & Company, LLC will serve as the sole book-running manager and representative of the underwriters.

Golden Minerals expects to use the net proceeds it receives from the offering (i) to advance the El Quevar silver project in northwestern Argentina, including the construction of an underground drift and preparation of a feasibility study, (ii) to advance exploration of Golden Minerals' portfolio of exploration properties, and (iii) for working capital requirements or other general corporate purposes.

The offering of common stock will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained from:

Dahlman Rose & Company, LLC
Attn: Prospectus Dept.
142 West 57th Street
18th Floor
New York, NY 10019
Phone: (212) 702-4521
E-mail: ECM@dahlmanrose.com

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale of securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Golden Minerals Company

Golden Minerals is a Delaware corporation based in Golden, Colorado, primarily engaged in the advancement of its precious metals exploration projects and in providing mine management services. The Company has a portfolio of 35 exploration projects, primarily located in Argentina, Peru and Mexico, including the advanced stage El Quevar silver project in the Salta Province of northern Argentina. Golden Minerals also operates the San Cristobal mine in Bolivia for Sumitomo Corporation under a Management Services Agreement.