Colorado Goldfields Inc (fka CGFI)

[pro-trader]

I hope some of the dilution past months were for this upcoming event
and part of the cash is ready

The Silver Wing Mine

On May 16, 2011, the Company issued 1,000,000 restricted shares of Class A Common Stock to accept assignment of an option contract for sale and purchase of the Silver Wing Mine.

The property consists of 27 patented mining claims (224 acres) in San Juan County, in southwestern Colorado, known as the Silver Wing Mine. The Company intends to develop a mining and milling operation to produce gold, silver, copper, lead, and zinc concentrates.

The option that the Company holds allows for the acquisition of the property in exchange for 2-year restricted Class A Common Stock valued at $1.5 million, due on or before February 14, 2012, a 5% NSR, and a cash payment of $300,000, due on or before March 31, 2012.

http://www.sec.gov/Archives/edgar/data/1344394/000119312512011060/d280302d10q.htm