(PR-inside.com) LAKEWOOD, CO -- (Marketwire) -- 05/18/11 -- Colorado Goldfields Inc. (OTCQB: CGFIA) (PINKSHEETS: CGFIA) announces that on May 16, 2011 the Company has entered into a Purchase Agreement to acquire the Silver Wing Mine. The properties consist of 10 patented mining claims across 70 acres in San Juan County in southwestern Colorado known as the Silver Wing Mine."A thorough study of geological structures, past production, core drilling and extensive underground sampling records indicates that the total resource of the Silver Wing Mine could exceed $200 million with approximately 80% of the resource value composed of silver and copper minerals," ..
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