SOURCE: Colorado Goldfields Inc.

Colorado Goldfields Inc.

March 01, 2011 07:30 ET

Colorado Goldfields Inc. President & CEO Lee Rice and CFO Stephen Guyer Appear on the Big Biz Show; "Back to the Stack" Dry Stacking Insights; Relevant Information for Company Shareholders

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LAKEWOOD, CO--(Marketwire - March 1, 2011) - Colorado Goldfields Inc. (OTCQB: CGFIA) (CGFIA.PK) announces that Colorado Goldfields President and CEO Lee R. Rice and CFO Stephen Guyer appeared on "The Big Biz Show with Russ and Sully," with 35 million cable television viewers and 2 million radio listeners daily.

The hosts of the Big Biz Show have ordained Rice and Guyer as the Big Biz Show "Gold Guys," describing Company management as gold experts. One of the highlights of the interview came when a commentator stated, "Dry stacking is considered a hot topic in the gold industry, particularly in any discussion of gold value." 

The interview took place on February 24th, during which Rice and Guyer discussed the effect of political unrest and inflation on gold prices, the new dry stack plan for the Pride of the West Mill, and strategies for gold accumulation during this turbulent time.

The Big Biz Show interview may be found at: http://www.cologold.com/uploads/2011-02-24_Big_Biz_Show.wmv.

In response to continuing shareholder inquiries and interest, the Company elaborates on its dry stack plans for tailings management at the Pride of the West Mill. Senior Consulting Engineer Stephen C. Fearn, P.E. describes below the benefits of dry stacking in cold climates such as San Juan County.

The benefits of dry stacking technology for the Pride of the West mill include:

  • The mill tailings are de-watered inside of a heated, controlled containment facility eliminating the potential for environmental contamination from frozen or ruptured slurry or return water pipe lines.

  • The filtered tailings can be stored in a closed, heated bin allowing trucking and placement of tailings to be completed during the daylight hours.

  • The tailings mounds will be reclaimed as tailings disposal proceeds resulting in minimal fugitive dust control requirements during cold, dry, windy periods.

  • The smaller operating footprint reduces the costs of snow removal and simplifies the management of snow melt run-off contamination.

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About Colorado Goldfields Inc.
Colorado Goldfields Inc. (OTCQB: 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.

About Big Biz Radio, Inc.
"Big Biz Radio Show" could be best described (actually it WAS described by The Wall Street Journal) as "Business with a Bar Room slant. It is a talk show that covers business and the business of life, sports and any other thing its two hosts feel are relevant." The Big Biz Show broadcasts out of San Diego, California. The show, recently named by TALKERS Magazine as one of the "Top 10 Most Influential Financial Shows" in the country, is highly recognized for discussing current business events, internet related issues, and other hot topics in the business world; doing so in an informing, laid back, and humorous manner. Bob "Sully" Sullivan and Russ "T Nailz" Stolnack; both are renowned and experienced radio broadcast personalities. The Big Biz Show airs Monday through Friday, 4:00 p.m. to 6:00 p.m. ET.

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.

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