SOURCE: Colorado Goldfields, Inc.

February 25, 2008 06:00 ET

Colorado Goldfields Inc. Announces Assay Results From 2007 Program

LAKEWOOD, CO--(Marketwire - February 25, 2008) - Colorado Goldfields Inc. (OTCBB: CGFI) (the "Company") today announces the assay results of its work program conducted in September-October, 2007 at the Gold King and Mogul properties in San Juan County, Colorado.

A limited surface sampling program was conducted on the patented claims of the Mogul property. Highlights from this surface sampling are as follows:

    Sample     Zinc    Lead    Silver   Copper   Indium     Sample
      #         %       %      (g/mt)      %      (ppm)      Type

    756541    10.24    5.87      91      0.417     13    Grab - mine dump

    756545    29.34   13.63     177        1.0     62    Grab - float

Results from drillhole 07-01, which was completed prior to the onset of winter weather, contain the following significant intervals:

From (meter)       Interval (meter)    Au (g/mt)     Ag (g/mt)     Cu%
120.40 to 123.44        3.05             0.50         142.50      1.03
210.22 to 214.27        4.05             0.28
228.75 to 229.73        0.98             0.48           33.0      0.86

Coast Mountain Geological Ltd. of Vancouver, British Columbia, Canada, collected the samples and Acme Analytical Laboratories Ltd. of Vancouver, British Columbia, Canada, conducted the analyses. Acme Analytical Laboratories Ltd. is an unaffiliated contractor. Gary Schellenberg, Vice President - Exploration and Director of the Company is a principal in Coast Mountain Geological Ltd. Analyses for zinc, lead and copper were by ICP-ES, analyses for indium were by ICP-ES/MS, and analyses for gold and silver were by fire assay with ICP finish.

On behalf of the Board,

Colorado Goldfields Inc.

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Todd C. Hennis, President

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 include 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, 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 event 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.

Contact Information

  • Contact Information:
    Todd C. Hennis
    Tel. 303-984-5324
    Colorado Goldfields Inc.
    10920 W. Alameda Avenue, Suite 207, Lakewood, CO 80226