Replies to post #44117 on Colorado Goldfields Inc. (fka CGFI)

[Luc Belgium]

LAKEWOOD, CO - Colorado Goldfields Inc. (OTCQB:CGFIA) (CGFIA.PK) announces that the Company has extended their Memorandum of Understanding ("MOU"), with American Sierra Gold Corp ("American Sierra") to August 31, 2012.



The MOU, which provides for customary due diligence, intends to make American Sierra a wholly owned subsidiary of Colorado Goldfields Inc. Existing shareholders of American Sierra will receive a ratio of restricted Colorado Goldfields Class A shares in exchange for their American Sierra shares.