Colorado Goldfields, Inc. announced that it has received a Preliminary Technical Report for the Silver Wing Project located in San Juan County, Colorado. The Report concludes: Available data confirm the presence of a 400,000 ton polymetallic resource in the properties constituting the Silver Wing Mine Project. This resource, when mined and processed through the company's Pride of the West Mill may yield more than 8,000 ounces of gold, 720,000 ounces of silver, 19.2 million pounds of copper, 10.8 million pounds of zinc, and 8.8 million pounds of lead worth more than $120 million.

The report details the available information about the Silver Wing Mine, the mine workings, and the metallic mineral deposits associated with the property. It contains assessments by the author, by employees of Colorado Goldfields Inc., and by professional geologists and engineers contracted by the company estimating the quality and quantity of mineralization that may be economically extracted. The Silver Wing Project is a polymetallic mine production project located on private land holdings in one of the richest and most prolific metallogenic provinces on earth, the Colorado Mineral Belt.

Previous development and production at the Silver Wing have left a lengthy haulage adit intersecting several vein structures that were partially developed by stoping. Data from previous production, channel sampling, and a number of exploratory drill holes confirm a remaining resource of more than 433,000 tons. The Pride of the West Mill ("Mill") is located 5.3 miles northeast of Silverton, Colorado.

The Mill is located on approximately 120 acres of patented mining claims on San Juan County Road 2, within a nine air-mile radius of the Silver Wing Mine, the King Solomon Mine, and many other mine properties.