LAKEWOOD, CO -- (Marketwire) -- 08/19/09 -- Colorado Goldfields, Inc. (OTCBB: CGFIA) announces today that it has signed a Letter of Intent to acquire the Eddy Gulch collection of properties located in Siskiyou County, California, USA. According to geologist's research, the Eddy Gulch properties may contain at least 1.23 million ounces of gold below the current workings of the properties. At a gold price of about $935 per ounce, this represents a potential resource of $1.15 billion. Applying after mining and milling expenses, there is a potential for more than a $700 million profit. Furthermore, the district has similar potential on
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