SOURCE: Colorado Goldfields Inc.

Colorado Goldfields Inc.

December 08, 2009 08:00 ET

Colorado Goldfields: "Gold Dynamics in the News" Part 2 -- Relevant Information for Company Shareholders

LAKEWOOD, CO--(Marketwire - December 8, 2009) - Colorado Goldfields Inc. (OTCBB: CGFIA) provides this commentary as Part 2 of its "Gold Dynamics in the News," series.

Many media sources reported something similar to the following over the weekend. "The price of gold has ended its run of all-time highs...," reported Financial Markets, owned by Brite Media Inc. Peter McKay and Geoffrey Rogow exclaimed in the Denver Post, "Gold's winning streak ends as dollar rallies on job data..."

However, McKay and Rogow went on to say, "Even after Friday's slide, gold was up 32.3 percent in 2009. Futures on the metal snapped a four-day winning streak and suffered their largest one-day percentage decline in 20 months, off 4 percent, or $48.60, to $1,168.80 an ounce on the New York Mercantile Exchange's Comex division. Gold had hit a string of all-time records in recent weeks, but some traders believe that trend may not return as participants look to book profits heading into the end of the year."

From Colorado Goldfields' standpoint, Lawrence Roulston, editor of Resource Opportunities, who is a geologist, with engineering and business training, and more than 20 years of hands-on experience in the resource industry, said it best when he stated, "In the past, the speculators have become sellers as soon as the upward trajectory leveled off. The result has been a series of spikes followed by sharp pullbacks. While history tends to repeat, there are reasons to believe that the present situation is unprecedented and may result in a different pattern."

Aaron Task recently interviewed author Gregory Zuckerman on Yahoo Finance's Tech Ticker regarding John Paulson's now famous activities in gold. "Almost instantly, Paulson, who was something of a Wall Street unknown, became one of the richest men in hedge fund history," reported Tech Ticker. "Already a major shareholder in miners AngloGold Ashanti and Kinross Gold, Paulson thinks there's plenty more money to be made in gold," said Zuckerman.

To view this insightful interview, visit: Billionaire John Paulson's Next Big Bet: Gold

Colorado Goldfields also reminds its shareholders that the Annual Meeting of Stockholders will be held on January 6, 2010, at American Legion / Miner's Tavern / Silverton Mountain Offices, located at 1069 Greene Street, Silverton, Colorado. Furthermore, the notice and proxy statement (including the Company's annual report), is available on the Company website at:

The Company encourages its shareholders to watch for internet voting instructions on their ballots (proxy cards), which will arrive via U.S. Mail this week.

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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