Colorado Goldfields Inc. 'Gold Dynamics in the News' Part 5 -- Gold, Currency War, US Dollar, Stock Market -- Relevant Information for Company Shareholders Gold Stocks

LAKEWOOD, CO -- (Marketwire) -- 10/12/10 -- Colorado Goldfields Inc. (OTCBB: CGFIA) provides this commentary as Part 5 of its 'Gold Dynamics in the News' series.

To view Peter Schiff's complete commentary, follow this link: http://peterschiffblog.blogspot.com/

'The Dow closed above 11,000 for the first time since mid-May. The Dow managed to gain 1.7% on the week. But to put that gain into perspective, gold gained 2.0% on the week. Silver gained 5% on the week. So once again it's not that the Dow is gaining value, it's that the dollar is losing value, and not just the dollar but other currencies,' said gold expert Peter Schiff on Friday, October 8, 2010.

Mr. Schiff once again places gold in the larger context of the global economy, and in particular global currencies. He provides his amazing insight into why gold prices are not a bubble.

'The gold stock index, the HUI, is only up about 1% on the week despite a 2% move in gold and a 5% move in silver. And again, this underperformance of gold stocks shows me that there continues to be more fear than greed in the gold market. Gold is not in a bubble, it's simply climbing a wall of worry. [ . . . ] I still think [the gold mining stock sector] is undervalued because so many people are afraid they are going to be buying the top so they are not buying. But real money continues to move into bullion while speculative money remains on the sideline,' said Schiff.

Peter David Schiff is an American economist, author, commentator and popular video blogger. Schiff, a licensed stock broker, is the president of Euro Pacific Capital, headquartered in Westport, Connecticut.

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About Colorado Goldfields Inc.
Colorado Goldfields Inc. (OTCBB: CGFIA) (http://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. We expect that this strategic plan will allow Colorado Goldfields to reach its goal of profitability, potentially within the next 18 months.

The Company has made available a current CGFIA Fact Sheet in PDF format at http://www.cologold.com/uploads/CGFIFactSheet.pdf.

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-KSB filed on December 27, 2007, and as amended on March 3, 2008, which is on file with the Securities and Exchange Commission, 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-KSB which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml. 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.

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Contact:
Investor Relations

Colorado Goldfields Inc.

866-579-9444 or 303-984-0524
http://www.cologold.com