eResearch

eResearch

May 01, 2007 15:13 ET

eResearch Issues Initiating Report on Colombia Goldfields Ltd.

TORONTO, ONTARIO--(CCNMatthews - May 1, 2007) - eResearch analysts, Stephen Mussart, B.A (Economics), MBA, and Bob Weir, B.Sc., B.Comm., CFA have written an Initiating Report on Colombia Goldfields Ltd., a junior mining exploration company focused on developing a 5.3 million ounce gold resource in Colombia's historic Marmato Mountain gold district. Quoted over-the-counter (OTCBB:CGDF), the Company has recently applied for a TSX listing.

The report's Highlights state the following:

- Company controls 32,000 hectares in the Marmato Mountain gold district

- A NI 43-101 Technical Report is expected by Q3/2007, and a Feasibility Report by 4Q/2008.

- US$9 million private placement completed in March 2007 provides 2007 exploration funds

- Political conditions in Colombia are greatly improved

- Several large companies active in Colombia: AngloGold Ashanti, BHP Billiton, Xstrata

- Shares are recommended to risk-tolerant investors as a Speculative Buy

- Twelve-month Target Price is $1.95, representing a 43% gain from current levels

eResearch is Canada's primary source for independent, quality, investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive Internet distribution network. eResearch does not trade in the securities of the companies it covers, nor does it accept any stock related compensation for research services. eResearch does not engage in retail or institutional sales, trading, or corporate finance activities, nor does it conduct investment banking or investor relations services for the companies covered. Our sole business is providing quality, unbiased research.

Colombia Goldfields Ltd. paid eResearch a fee of C$18,500 + GST to conduct research on the Company, on an Annual Continuous Coverage basis.

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