SOURCE: Colorado Goldfields Inc.

Colorado Goldfields Inc.

December 10, 2009 08:00 ET

Colorado Goldfields: "Gold Dynamics in the News" Part 3 -- Relevant Information for Company Shareholders

LAKEWOOD, CO--(Marketwire - December 10, 2009) - Colorado Goldfields Inc. (OTCBB: CGFIA) provides this commentary as Part 3 of its "Gold Dynamics in the News" series.

"When it comes to the 2010 outlook for commodities, who better to ask than commodities whiz Trader Vic?," asked Lara Crigger as reported in HardAssetsInvestor.com on December 4, 2009.

Victor Sperandeo (also known as "Trader Vic") is one of the world's most outspoken commodities traders, with over 40 years of market experience. He has invested independently for the likes of George Soros, Leon Cooperman and BT Alex Brown, and has written a book, "Trader Vic on Commodities." Mr. Sperandeo also created the popular Diversified Trends Indicator, a long/short rules-based trading methodology based on a highly diversified basket of commodity and financial futures contracts.

At last month's "Inside Commodities" conference, HardAssetInvestor Associate Editor Lara Crigger caught up with Trader Vic between sessions to ask about his general outlook for commodities in 2010.

Ms. Crigger's first question, "Which commodities do you think are going to do well next year?" is of course of profound importance to Colorado Goldfields.

Mr. Sperandeo answered that question by saying, "Well, I'm on record across the world as saying that gold is the best investment in the world for the next two to three years. It's fundamentally obvious, but when you're printing huge amounts of paper vs. something that is considered money, the paper will depreciate and the hard assets will go up. So gold and silver will do well -- silver a little less so -- but gold certainly."

To view the complete interview visit: Interview with Trader Vic.

As mentioned above, Mr. Sperandeo has also published a book titled, "Trader Vic on Commodities: What's Unknown, Misunderstood, and Too Good to Be True." In his introduction, Trader states, "Commodities are experiencing a new up cycle -- and an examination of the major factors contributing to these price increases suggests they are not short-lived. World populations continue to expand, increasing global demand. Industrialization in China and India, as well as in other emerging markets, has greatly increased the need for energy and industrial products, while the supply remains limited. With the increased volatility in the commodities markets, the surge in interest, and the generally higher prices in everything from crude oil to copper to cocoa, it seems clear that every investor should have at least some exposure to commodities."

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: www.cologold.com/uploads/2009_Annual_Meeting_Material.pdf.

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) (http://www.cologold.com) 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 http://www.cologold.com/uploads/CGFIFactSheet.pdf.

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 http://www.sec.gov/edgar.shtml. 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.

Contact Information