SOURCE: Colorado Goldfields, Inc.

March 03, 2008 06:00 ET

Colorado Goldfields Inc. Announces CFO and Additional Staff Appointments

LAKEWOOD, CO--(Marketwire - March 3, 2008) - Colorado Goldfields Inc. (OTCBB: CGFI) (the "Company") is pleased to announce the following staff additions;

Mr. C. Stephen Guyer has joined the Company as Chief Financial Officer. Mr. Guyer replaces Gary Schellenberg, who will continue as Vice-President, Exploration and as a Director. Mr. Guyer brings over 30 years of experience in the financial field, having served throughout his career as either CFO or as a senior financial executive for a number of firms operating across a broad spectrum of industry sectors. Mr. Guyer has significant public company experience including directing all aspects of financial operations. Mr. Guyer holds an M.B.A. in Finance from the University of Denver and will be based at the Company headquarters in Lakewood, CO.

Mr. Dean Misantoni has joined the Company as Manager of Exploration. Mr. Misantoni offers 27 years of experience, with an emphasis on complex vein deposits in underground mines. In addition to holding Chief Geologist positions in small, producing underground operations in Colorado (London and Sweethome mines), he gained extensive experience in the San Juan Volcanic Field of Colorado (Creede, Summitville) while working for Anaconda, Homestake and Crown Resources. He has explored for similar Tertiary, volcanic-hosted, epithermal deposits in several Latin American countries, including El Salvador, Costa Rica, Peru, and Mexico. Mr. Misantoni earned a B.S. Degree in Geology from Southern Ill. Univ., and an M.S. in Economic Geology from Colorado State University and will be based at our Pride of the West Mill Office at Silverton, CO.

Ms. Debbie Cokes has joined the company as Manager, Environmental Affairs. Ms. Cokes has 27 years of experience in the environmental and water treatment fields and holds a degree in Civil Engineering from the University of Colorado/Boulder. Ms. Cokes has a significant background in process monitoring, mining, regulatory affairs, environmental remediation, and working with watershed groups. Ms. Cokes will operate out of our Pride of the West Mill Office at Silverton, CO.

Todd Hennis, President and CEO of Colorado Goldfields Inc., states, "We are excited that we could attract three such qualified and experienced people to join our team as we rapidly expand the activities of the Company. Mr. Guyer has already brought his large skill set to bear on our financial and SEC reporting activities. Mr. Misantoni will add tremendously to our geological and exploration efforts at the Gold King Mine and our other exploration work in San Juan County, Colorado and elsewhere. Ms. Cokes will further our pro-active work in the environmental field, community relations and in our relationships with our regulators. We plan on adding additional personnel in the coming months with the same excellent level of experience as these members of our management team."

On Behalf of the Board,
Colorado Goldfields Inc.
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
    Colorado Goldfields Inc.
    Tel. 303-984-5324
    10920 W. Alameda Avenue, Suite 207
    Lakewood, CO 80226