SOURCE: Colorado Goldfields Inc.

Colorado Goldfields Inc.

December 15, 2009 08:00 ET

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

LAKEWOOD, CO--(Marketwire - December 15, 2009) - Colorado Goldfields Inc. (OTCBB: CGFIA) provides this commentary as Part 2 of its "Milling Dynamics in the News" series.

The Journal of Metals, a scholarly publication of The Minerals, Metals & Materials Society, provides the following insights regarding gold recovery from ore using microbeam technology. "This technology is particularly important to Colorado Goldfields' Pride of the West Mill as it could dramatically improve recovery rates, or 'liberation of gold,'" stated John Ferguson, Director of Operations for Colorado Goldfields.

Stephen Chryssoulis, Robert Dunne, and Andre Coetzee stated, "Gold deportments determined by microbeam analytical techniques will identify opportunities for optimization and provide realistic targets for reducing the gold content in tailings streams. This approach has been applied in a number of gold operations, with the ultimate benefit of improved gold recovery."

All gold ores need to be ground or crushed, prior to further processing. Hence, the foremost characteristic to be assessed is the "liberation of gold" required for gravity/flotation separation. A variety of methods are available for assessing liberation and exposure, with automated image analysis (AIA) techniques gaining broad acceptance over the last two decades. Automated image analysis methods rely on x-ray dot maps or backscattered electron images produced by scanning electron microscopy or electron probe microanalysis (EPMA).

"Since the Pride of the West Mill primarily uses floatation to liberate gold, the preferred microbeam technique for inorganic surface microanalysis of gold grains from plant samples is 'time-of-flight laser ionization mass spectrometry' (TOP-LIMS). Collector identification and loading measurement is possible by combining TOP-SIMS with vacuum ultra violet (VUV) TOF-LIMS," stated Ferguson.

The Journal article went on to say, "Time-of-flight laser ionization mass spectrometry is ideal for inorganic surface microanalysis of gold particles for several reasons: 1) its combined superior surface sensitivity and analytical sensitivity, 2) its small adjustable spot size, 3) its capability to differentiate surface from subsurface species by repeating the analysis on the same spot, 4) its easy-to-interpret positive ion spectra, and most importantly, 4) its speed of analysis."

Stephen Chryssoulis is the director of AMTEL in London, Canada. Robert Dunne is Manager of Metallurgy for Newmont (Australia). Andre Coetzee is the Metallurgical Manager for the East and West Africa Region for AngloGold Ashanti Limited.

To read the full article of this fascinating aspect of gold ore processing, visit:

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:

A special note to Class B shareholders: Class B shareholders will receive their proxy and ballot information this week. Shareholders of Class B shares may vote those shares either by returning the yellow ballot (proxy card) via US Mail, or through the Company's Transfer Agent's website as described on the ballot itself.

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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