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Colorado
Goldfields, Inc. (OTCBB: CGFI)
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Dear Reader,
Providing one of the best risk/reward opportunities in the junior mining
industry, CGFI is on the cusp of a breakout based upon significant
strengths not yet priced into the stock:
- Quality mining properties
- Solid management
- Hard assets
- Quick time to production
CGFI controls mining rights for three Colorado gold mines with existing
mining infrastructure, significant historical production, and known remaining
deposits. CGFI management wisely acquired a modern mill that needs minor
rehabilitation to shorten their time to production.
Drilling is currently underway at two of the sites, and CGFI expects
to have the exact size and location of the deposits verified by February,
2009. The rehabilitated mill will have a replacement value of $20 million.
Once this occurs, the full value of the precious metal deposits and the
mill should be priced into the stock.
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About Colorado Goldfields |
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Colorado Goldfields, Inc.
10920 West Alameda, Suite 207
Lakewood, Colorado 80226
www.cologold.com
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Ticker: CGFI
(OTC BB)
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Colorado Goldfields Inc. (OTC:BB CGFI), 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 discovery.
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 500 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. |
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Gold King Mine
The updated combined reserve and resource for the Gold King Mine is
406,000 oz of gold and 3.7 million oz of silver. Historic production of
345,000 oz of gold and 1.4 million oz of silver. The break even price for
gold and silver are $412.05 and $7.50 respectively. |
Mogul Mine
Adjoining the Gold King Mine, the Mogul Mine is a high-grade zinc/lead/silver
property. The site has limited past production, but potential to host a
considerable tonnage of base metal ore. Historic grade of 6.5% zinc, 4%
lead, 0.75% copper, 4 ounces/ton silver and varying gold content.
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Mayflower Mine
Historic production of 520,000 oz gold, 12.3 million ounces of silver
and significant base metal production from 1929-1953. Exploration on the
property in the 1980s confirmed ore grade continuity below main haulage
level. |
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Pride of the West Mill
A modern gravity and flotation mill with up to-700 tons per
day capacity. It is located within nine miles of all three CGFI mines.
and is the only mill in the area. Toll milling for neighboring mines provides
an additional revenue stream and the opportunity for future joint venture
or acquisition opportunities. |
Milestones
Jul 2008 – Feb 2009
Surface drilling
7th level rehabilitation
NI 43-101 report |
Feb 2009 – Nov 2009
Underground Drilling
New Workings
Full Mine Permit |
Dec 2009 – May 2010
Underground Drilling
New Workings
Feasibility Study |
May 2010 – Dec 2010
Mill Rehabilitation
Mill Reactivation
* Begin Production * |
| Management Team
Todd C. Hennis - CEO & President
C. Stephen Guyer - CFO
John Ferguson - Director, Operations
Debbie Cokes - Environmental Affairs
Brad Long - Investor Relations
blong@cologold.com
1-866-579-2434 |
Company Information
Symbol / Market: CGFI / OTC:BB
Shares authorized: 1,185 M
Shares outstanding: 103 M
Assets: $16.6 M+ (market value)
Market Cap: $10.7 M
Average volume (3m): 189,492
Share Price: $0.11 |
| Fiscal Year:
Revenue:
Gross Margin: |
FY08
$0
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FY09
$2M
31% |
FY10
$10M
37% |
FY11
$22M
45% |
FY12
$36M
49% |
| This press release contains forward-looking statements
within the meaning of United States Section 27A of the Securities Act of
1933 as amended, and Section 21E of the Securities Exchange Act of 1934
as amended. Investors are cautioned that these forward-looking statements
involve uncertainties and risks that could cause actual performance and
results of operations to differ materially from those anticipated by these
statements. These risks and uncertainties include issues related to the
ability to: obtain sufficient funding to continue operations, maintain
adequate cash flow, profitably exploit new opportunities, and the unpredictable
nature of business risks; as well as other factors set forth in the Company's
most recently filed SEC reports. The forward-looking statements contained
herein represent the Company's judgment as of the date of this release
and it cautions readers not to place undue reliance on such statements.
The Company assumes no obligation to update the statements contained in
this release. |
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Recent News From CGFI |
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August
19, 2008 05:53 AM Mountain Daylight Time
Colorado Goldfields
Commences Drilling at Mogul Mine
LAKEWOOD,
CO -- (BUSINESS WIRE) -- Colorado Goldfields Inc. (OTCBB: CGFI) commenced drilling at its Mogul Mine Project in San Juan County, Colorado.
CGFI will drill multiple holes into various geologic zones to verify potentially
recoverable gold and silver and to determine exactly where mining will
yield the highest production.
Colorado
Goldfields Inc.’s company Longyear 34 drill is drilling to intercept the
Mogul-Brenneman-Washington vein on the Company controlled Mogul property.
The objective of this drilling is to extend the Mogul base metal rich (with
some gold and silver) below the old workings. It is anticipated that
a 43-101 compliant resource can be indicated from this drilling coupled
with historic data.
The
Mogul Mine is situated on property that is located in the heart of the
San Juan County gold fields and proven gold producing ground, 8 miles from
Silverton.
The
Mogul Mine is a high-grade zinc/lead/silver property that adjoins both
the Gold King Mine and the Sunnyside Mine. The property was active
from 1901-1909 as a precious metals mine, and has not had the benefit of
exploration activity in modern times. The Mogul Mine has the potential
to host a considerable tonnage of ore, and is the continuation of the George
Washington vein of the Sunnyside Mine (Kinross Gold), which accounted for
a large part of Sunnyside's base metal production. The historic ore
grade from the Mogul is approximately 6.5% zinc, 4% lead, 0.75% copper
and varied precious metal content. Vein widths of up to 50 feet have
been reported and an average approximate width of 8 to feet appears on
the surface.
The
purpose of this drilling, as well as the previously announced drilling
at the Company’s Gold King Mine, is to verify and expand the historic delineated
tonnage at the property to N.I. 43-101 standards.
Drilling
commenced July 19, 2008.
About
Colorado Goldfields Inc.
Colorado
Goldfields Inc. (OTC:BB CGFI), 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 discovery. 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 500 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.
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 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.
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.
Contact
Brad
Long
Colorado
Goldfields Inc.
866-579-2434
10920
W. Alameda Avenue, Suite 207, Lakewood, CO 80226
http://www.cologold.com
August
14, 2008 06:00 AM Mountain Daylight Time
Colorado Goldfields’ Board of Directors’
Lock-up
LAKEWOOD, CO -- (BUSINESS
WIRE) -- Colorado Goldfields Inc. (OTCBB: CGFI) announces that its Board of Directors and executive officers entered into
a 24 month lock-up agreement for 40,500,000 shares of common stock, representing
approximately 40% of the issued and outstanding common shares. The
lock-up agreement provides that they will not directly or indirectly trade,
sell, or otherwise transact their shares of Colorado Goldfields Inc.
“We are excited about
the long-term outlook for the company and are confident in our strategic
direction. I believe that this lock-up agreement sends a clear message
to our shareholders that the management team has a long term commitment
to Colorado Goldfields”, said CEO Todd Hennis.
About Colorado Goldfields
Inc.
Colorado Goldfields
Inc. (OTC:BB CGFI), 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 discovery.
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 500 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.
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.
This press release may also contain information about adjacent properties
on which the company has 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.”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.
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.
Contact Information
Brad Long
Colorado Goldfields
Inc.
866-579-2434
10920 W. Alameda Avenue,
Suite 207, Lakewood, CO 80226
http://www.cologold.com
August
12, 2008 07:00 AM Mountain Daylight Time
Colorado Goldfields Commences Drilling
at Gold King
LAKEWOOD, CO -- (BUSINESS
WIRE) -- Colorado Goldfields Inc. (OTCBB: CGFI) commenced drilling at its Gold King Mine Project in San Juan County, Colorado.
CGFI will drill multiple holes into various geologic zones to verify potentially
recoverable gold and silver and to determine exactly where mining will
yield the highest production. The purpose of this drilling is to
verify and expand the historic delineated tonnage at the property to N.I.
43-101 standards.
The initial drilling
targets are the North Vein of the property in an area of historic high
grade gold intercepts. The first three holes of the 2008 season are
in the area of an unverified 1984 drill hole that intersected two high
grade gold structures with substantial base metal content. The drilling
area is also near an unverified underground drill hole completed in 1990
that reportedly hit a high grade gold structure.
The immediate drilling
plan is anticipated to hit additional vein structures that have not been
adequately tested in the past. The drilling plan is also designed
to reach the main Gold King-Davis vein structures and to test the Portland
Extension Vein of the property.
CGFI has engaged Godbe
Drilling of Montrose, Colorado to perform the drilling utilizing a truck-mounted
Longyear 44 drill rig. Drilling commenced July 19, 2008.
About Colorado Goldfields
Inc.
Colorado Goldfields
Inc. (OTC:BB CGFI), 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 discovery.
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 500 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.
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 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.
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.
Contact
Brad Long
Colorado Goldfields
Inc.
866-579-2434
10920 W. Alameda Avenue,
Suite 207, Lakewood, CO 80226
http://www.cologold.com
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