Colorado Goldfields Inc (fka CGFI)

[567tbd]

GM ng, This is their statement of the Mill from the 10Q filed 2 weeks ago.


Operations at the Pride of the West Mill:

During the quarter ended November 30, 2012, we began very specific analysis to satisfy conditions that were imposed on full permit approval by the DRMS. The core of the permit consists of nine Environmental Protection Faculties (“EPFs”), which are: 1) Mill Building, 2) Ore Stockpile Area, 3) Laboratory Facility, 4) Leach Plant Building, 5) Flood Protection Dike, 6) Plant Waste Water Disposal, 7) Groundwater intercept Drain, 8) Upland Stormwater Intercept Ditch, 9) Mill Tailings Repository.

The conditions specified by the DRMS regard the ninth EPF, the Mill Tailings Repository and simply request additional geotechnical substrate stability analysis, structure specific engineering designs for the cover of the repository, the repository’s reserve capacity, and the always on-going recalculation of financial warranty.

Management believes that these conditions will be satisfied by the end of second quarter, 2013. However, operations within the approved areas have been rapidly initiated.


567

GL

BTW 2nd quarter ends February 28th for CGFI