Colorado Goldfields Inc. (fka CGFI)

[J-Rhino]

LAKEWOOD, CO -- (MARKET WIRE) -- 06/24/2010 -- Colorado Goldfields Inc. (OTCBB: CGFIA) announced today that in addition to the $6.1 million of preliminary purchase orders announced on Tuesday, June 22nd, the Company has received additional preliminary purchase orders totaling $3 million for custom gold ore milling from active mines in southwestern Colorado. Initial gold ore flow to Colorado Goldfields is now estimated to be approximately 300 tons per day by these orders, and represents $9.1 million in revenue in the first 12 months of operations, generating a projected $4.8 million in net profits for the Company.