LAKEWOOD, CO — (Marketwire) — 03/01/11 — Colorado Goldfields Inc. (OTCQB: CGFIA) (CGFIA.PK) announces that Colorado Goldfields President and CEO Lee R. Rice and CFO Stephen Guyer appeared on The Big Biz Show with Russ and Sully, with 35 million cable television viewers and 2 million radio listeners daily.

The hosts of the Big Biz Show have ordained Rice and Guyer as the Big Biz Show Gold Guys, describing Company management as gold experts. One of the highlights of the interview came when a commentator stated, Dry stacking is considered a hot topic in the gold industry, particularly in any discussion of gold value.

The interview took place on February 24th, during which Rice and Guyer discussed the effect of political unrest and inflation on gold prices, the new dry stack plan for the Pride of the West Mill, and strategies for gold accumulation during this turbulent time.

www.cologold.com/uploads/2011-02-24_Big_Biz_Show.wmv.

In response to continuing shareholder inquiries and interest, the Company elaborates on its dry stack plans for tailings management at the Pride of the West Mill. Senior Consulting Engineer Stephen C. Fearn, P.E. describes below the benefits of dry stacking in cold climates such as San Juan County.

The benefits of dry stacking technology for the Pride of the West mill include:

• The mill tailings are de-watered inside of a heated, controlled containment facility eliminating the potential for environmental contamination from frozen or ruptured slurry or return water pipe lines.

Gold stocks

About Colorado Goldfields Inc.

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.

www.cologold.com/uploads/CGFIFactSheet.pdf.

About Big Biz Radio, Inc.

Big Biz Radio Show could be best described (actually it WAS described by The Wall Street Journal) as Business with a Bar Room slant. It is a talk show that covers business and the business of life, sports and any other thing its two hosts feel are relevant. The Big Biz Show broadcasts out of San Diego, California. The show, recently named by TALKERS Magazine as one of the Top 10 Most Influential Financial Shows in the country, is highly recognized for discussing current business events, internet related issues, and other hot topics in the business world; doing so in an informing, laid back, and humorous manner. Bob Sully Sullivan and Russ T Nailz Stolnack; both are renowned and experienced radio broadcast personalities. The Big Biz Show airs Monday through Friday, 4:00 p.m. to 6:00 p.m. ET.

Notice regarding forward-looking statements

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