Colorado Goldfields Inc. (OTCQB: CGFIA) -The foundation for CGFIA’s plan is based on their modern, up to 700 ton per day capacity mill facility, which is the foundation for their attractive short-term production time frame. This Company has an in situ gold mine, literally and gold is pushing toward new highs. Management also restates the gross dollar value of the gold produced from the Pride of the West Mill. At 0.35 ounces of gold per ton, and a price of $1,400 per troy ounce, that represents approximately $500 million in gross value, and at 0.8 ounces per ton, gross value of the gold would be in excess of $1 billion; not to mention the cost benefits of back-filling and potential reprocessing. -Technical Revision 11 (TR-11) is the foundation of the process that will bring the Pride of the West into operation under the new dry stacking approach. This was filed on March 25, 2011, as the first component of its Dry Stacking Permit application with the Colorado Division of Reclamation, Mining and Safety (“DRMS”). The eight tasks within TR-11 will address the closure of six test pits and two geotechnical drill holes located within the Upper and Lower Tailings Pond areas of the site and the relocation and final disposition of certain Waste Rock, initiates the final reclamation of the Mill Drain Pond, the Upper Tailings Pond and the Lower Tailings Pond. These were the major problem areas in the December 2010 permit amendment, and now are removed from the scope of the permit. The work described in TR-11 is important in several respects. -First, it will help ensure that the Pride of the West Mill is in compliance with applicable laws and regulations. -Second, it also will provide increased protection of public health and the environment through: -Proper closure of the test wells and pits will prevent cross-contamination of ground water resources. -Relocation of the Mine Dump Rock above any potential ground water levels will protect background ground water quality from degradation from leaching from the Mine Dump Rock. -Capping and re-vegetation of the Upper and Lower Tailings Ponds and the mill drain pond area will reduce fugitive dust emissions. -Further, it will reduce leaching of residual metals contained in mill tailings from oxygenated rain and snowmelt water sources. This will result in a reduction of metals loading to ground water resources. -The Pride of the West Mill is a modern gravity, flotation and cyanide leach mill located on 120 acres, with offices, laboratory and water rights. -The Mill has the capacity to refine up to 700 short tons per day. -The permit for the Pride of the West authorizes the processing of gold, silver, lead, cooper, and zinc. The Company has made available a current CGFIA Fact Sheet in PDF format at http://www.cologold.com/uploads/CGFIFactSheet.pdf. -Summary Overview The Company is exploring extensive surface and subsurface, high-grade mineralized zones at the Silverton mines. Based on the results obtained from Colorado Goldfield’s current early-stage exploration investment, the stage will soon be set for the dramatic next steps in the journey from discovery to determination of an economical ore body. At that stage, Colorado Goldfields will be able to exploit the advantages of its recent purchase of the Pride of the West Mill, which will allow for a shorter term production timeframe.
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