Bolden, who suffered the injuries Saturday, is a four-star recruit who was expected to provide depth at the position for Mountaineers, who were No. 18 in the final rankings last season.
Nicknamed "Beetle," he averaged 10.7 points and had 10 steals and eight assists during a three-game trip to the Bahamas in August.
"Obviously, our thoughts are with Beetle as he prepares for surgery and begins the rehabilitation process," coach Bob Huggins said in a statement. "Beetle's a great kid, and I know he will put the time in ... and come back stronger and hungrier than ever."