American Goldfields Inc.
OTC Bulletin Board : AGFL

American Goldfields Inc.

November 14, 2007 09:30 ET

American Goldfields Provides Drilling Update on Hercules Gold Project in Nevada

BURNABY, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2007) - American Goldfields Inc. (OTCBB:AGFL) is pleased to provide a drilling update on its Hercules Project in Nevada.

Hercules Project

With encouraging results on the previous two drilling programs, further testing of recently discovered, near surface gold mineralized zones throughout the property is being pursued. The current drilling is targeting previously untested, disseminated gold zones under reasonably shallow cover as well as testing nearby vein structures for high grade gold at depth.

A resource estimate for the Hercules project quoted by G. Goodall in a 43-101 report states 259,300 ounces of gold and over 1.9 million ounces of silver. This was determined from 33,925 feet of drilling in 176 holes. Three separate drill programs have defined new gold mineralization adjacent to the known resources since the resource was determined. These drill programs include 21 drill holes for an additional 10,250 feet.

Some of the recent drilling increased the known resource area, and defined new areas of gold and silver mineralization. The current drill program is offsetting gold mineralization within the new discoveries. Drilling is progressing with six holes completed. Although assays are not yet available, the alteration encountered in this drilling program is consistent with alteration and gold mineralization in last year's drilling. Partial results for the current drill program are expected to be available in December.

"The increase of known mineralization within the resource area coupled with the discovery of new gold mineralization indicates potential for the Hercules resource to expand by an order of magnitude. We believe the Hercules contains one of the most significant untested Comstock-type vein systems in the Western United States," says Mr. Don Neal, president of American Goldfields.

Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov.

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