Colorado Goldfields Featured in Prestigious Industry Publication - Industrial Info Resources, “High Commodity Prices Drive Colorado Gold and Silver Mining Revival“
LAKEWOOD, CO -- (Marketwired) -- 04/11/13 -- Colorado Goldfields Inc. (OTCQB: CGFI) announces that the Company was featured in a research report written by industry expert John Egan.
"The inclusion of Colorado Goldfields in this report once again demonstrates the viability of the Company's business plan and validates its efforts to build a highly profitable enterprise, which is directly synchronized with overall global economic trends," stated C. Stephen Guyer, CFO for Colorado Goldfields.
The report's opening statement:
Sustained high prices for gold and silver are helping drive project activity in Metals & Minerals projects in Colorado, shown by expansion of producing properties and attempts to reopen idled mines and mills, industry sources tell Industrial Info Resources. Colorado Goldfields Incorporated (OTCQB: CGFI) (Lakewood, Colorado) [. . .] are trying to reopen idled mines and mills in Colorado.
Colorado Goldfields is seeking to re-open these four formerly operating properties in Colorado:
- Pride of the West Gold Mill
- Champion Gold Mine
- Silver Wing Mine
- King Solomon Mine
Of the three pre-production mines, C. Stephen Guyer, CFO for Colorado Goldfields, said, "The Champion Gold Mine was the company's best property, with an estimated resource value of $232 million. The Silver Wing mine has $121 million of estimated resources. Both properties were operating until the 1980s and 1990s, which is fairly recent in terms of mining industry," he said. The Pride of the West Mill last operated in 2005. Guyer said the mill could generate $200 million in revenue in its first five years of operation. Net income from the mill and the re-opened mines could reach $72 million over that time, he projected.
The report continued: "Capital is very risk averse today, Guyer told Industrial Info. We're finding it difficult to raise capital. People are less willing to invest in assets that are in the pre-production stage compared to producing properties. Investors have not really recovered their confidence from the pre-2008 period. Five or six years ago, a company in pre-production could obtain financing."
The complete report may be accessed at: http://www.industrialinfo.com/index.jsp
About Colorado Goldfields Inc.
Colorado Goldfields Inc. (OTCQB: CGFI) (www.cologold.com) is a Denver-based junior exploration and mining company primarily exploring for gold and silver. Our seasoned management team targets historic gold camps with strong potential for multiple deposit discoveries. Currently, our business model in Colorado provides an outstanding combination of former producing properties with excellent exploration and production potential and a currently inactive, modern, up to 700 ton per day capacity mill facility to allow for an attractive short-term production time frame. A 3D animation showing ore processing may be viewed on the Company's website at: www.cologold.com/prideofthewest.htm. A video tour of the Pride of the West Mill may be viewed at: www.cologold.com/uploads/2009-05-14_Mill.wmv
The Company has made available a current CGFI Fact Sheet in PDF format at
About Industrial Info Resources
Industrial Info Resources (IIR) is a leading provider of global industrial market intelligence. Since 1983, IIR's mission has been to provide its clients with the most accurate and timely project and plant spending intelligence, based on the highest quality assurance standards in the industry. With IIR's service, its clients are able to access thousands of active project spending opportunities that are directly researched and pre-qualified by IIR's personnel, located in nine research centers around the world. IIR has approximately 400 employees, speaking more than 50 languages, providing quality research based on a single methodology.
Notice regarding forward-looking statements
This news release may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements or information includes statements regarding the expectations and beliefs of management. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to obtaining financing to meet the Company's exploration program and operating costs during its exploratory stage, the interpretation of exploration results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including the inability to obtain mining permits and environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees, and other risks and uncertainties, including those described under "Risk Factors" in the Company's Annual Report on Form 10-K filed on November 16, 2012, which is on file with the Securities and Exchange Commission at http://www.sec.gov/Archives/edgar/data/1344394/000135448812005991/0001354488-12-005991-index.htm, as well as the Company's other SEC filings. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as is required under applicable securities laws.
Cautionary note to U.S. Investors -- The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press release), such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosures in our 10-K which may be secured from us, or from the SEC's website at http://www.sec.gov/Archives/edgar/data/1344394/000135448812005991/0001354488-12-005991-index.htm, this press release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
Colorado Goldfields Inc.
866-579-9444 or 303-984-0524