SOURCE: Colorado Goldfields Inc.

Colorado Goldfields Inc.

December 02, 2009 08:00 ET

Colorado Goldfields Announces Date for Annual Shareholder Meeting in Silverton, Colorado

LAKEWOOD, CO--(Marketwire - December 2, 2009) - Colorado Goldfields Inc. (OTCBB: CGFIA) announced today that the Annual Meeting of Stockholders of Colorado Goldfields Inc. will be held on January 6, 2010, at American Legion / Miner's Tavern / Silverton Mountain Offices, located at 1069 Greene Street, Silverton, Colorado 81433. The meeting will start promptly at 11:00 a.m. Mountain Time.

Upon completion of the formal portion of the meeting, the Company will host a tour of its Pride of the West Mill, located just 4 miles away on County Road 2. Weather permitting, shareholders may also take this opportunity to visit the Company's newly leased Brooklyn mine. The Company hopes that holding the meeting at this historic location will give shareholders not only the opportunity to participate in general corporate matters, but also provide a one-of-a-kind hands-on reference of gold mining and milling in this extraordinary area.

"This will be no ordinary annual meeting held in some sterile law office," stated Stephen Guyer, CFO of Colorado Goldfields. "This is a chance for shareholders to touch and feel not only a piece of history, but their piece of the future as well," added Guyer.

According to the Silverton Area Chamber of Commerce:

"... in 1860, Charles Baker and several prospectors entered the San Juan Mountains in search of wealth. They soon found deposits of gold and silver along the Animas River, in an area that was later called 'Baker's Park.' In the 1870s, nearly 1,000 prospectors once again ventured into the high country. The Silverton district opened legally to miners in 1874. An estimated 2,000 men moved into the region that year. They came from across the U.S., many parts of Europe and even China, to endure severe winters and dangerous mining conditions in their pursuit of the minerals they hoped would make them rich.

"Due to a slow market and low demand, mining in Silverton closed down in the early 1990s. However, there's still gold and silver in those mountains and rumor has it that mining will be back one day."

"We are enthusiastic about this year's annual meeting. As the writer above said, 'rumor has it that mining will be back one day.' Colorado Goldfields remains dedicated to fulfilling that rumor," said Lee Rice, President and CEO of Colorado Goldfields.

About Colorado Goldfields Inc.

Colorado Goldfields Inc. (OTCBB: CGFIA) ( is a Denver-based junior exploration and mining company primarily exploring for gold and silver. Our seasoned management team targets historic gold camps with strong potential for multiple deposit discoveries. Currently, our business model in Colorado provides an outstanding combination of former producing properties with excellent exploration and production potential and a currently inactive, modern, up to 700 ton per day capacity mill facility to allow for an attractive short-term production time frame. We expect that this strategic plan will allow Colorado Goldfields to reach its goal of profitability, potentially within the next 18 months.

The Company has made available a current CGFIA Fact Sheet in PDF format at

Notice regarding forward-looking statements

This news release may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements or information includes statements regarding the expectations and beliefs of management. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties 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 or information. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to obtaining financing to meet the Company's exploration program and operating costs during its exploratory stage, the interpretation of exploration results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including the inability to obtain mining permits and environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees, and other risks and uncertainties, including those described under "Risk Factors" in the Company's Annual Report on Form 10-KSB filed on December 27, 2007, and as amended on March 3, 2008, which is on file with the Securities and Exchange Commission, as well as the Company's other SEC filings. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as is required under applicable securities laws.

Cautionary note to U.S. Investors -- The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press release), such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosures in our 10-KSB which may be secured from us, or from the SEC's website at This press release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

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