Colorado Gold Mines Discusses Keeno Strike Mining Valuation Report

LAS VEGAS, March 7, 2013 /PRNewswire/ -- Colorado Gold Mines, Inc. (OTCBB: CGLD) a development stage company engaged in the acquisition, exploration and development of mining properties is pleased to present the results of the latest mining valuation report on its Keeno Strike Gold and Silver property.  The report, prepared by Parkinson Geologic Services of Grass Valley, California discusses the Keeno Strike geology, metallic grade testing, metallic ore resources and value of mineral resources.

"The Parkinson Geologic Services mining valuation report for the Keeno Strike Property was the determining factor used for CGLD to pursue the property," said William Lundy, CEO of Colorado Gold Mines, Inc.  "The report utilizes the results of field reconnaissance, document research and analysis, review of laboratory analytical test results and the firms extensive knowledge of the Nevada mining industry.  Based on the geologic evidence described in the report, Parkinson Geologic Services estimates that there is approximately 69 million ounces of silver and 1 million ounces of gold in the Keeno Strike Property for a total in-place gross value of silver and gold of about $3.88 billion.  As we plan our exploration and survey of the property, we look forward to keeping our shareholders informed about our progress and results," added Lundy.

Further details regarding the Keeno Strike Property and report details are available on the web at: http://www.coloradogoldmines.com/properties_keeno.php.

ABOUT COLORADO GOLD MINES, INC.

Colorado Gold Mines, Inc. is a development stage company engaged in the acquisition, exploration, development, mining and processing of precious metal properties.  The Company's operating interest includes the development stage Keeno Strike Silver and Gold Property located in the southern end of the Spring Mountains in the Yellow Pine Mining District of Southern Nevada.  The property consists of a continuous block of 12 unpatented, 20-acre lode-mining claims for a total of 240 acres.  The claims include the historical Monte Cristo Mine and the Keeno-Mint workings near Porter Wash.

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Colorado Gold Mines, Inc. encourages those interested in our Company to rely only on information included in our filings with the United States Securities and Exchange Commission which can be found at www.sec.gov. Statements released by Colorado Gold Mines, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.

Contact:
Colorado Gold Mines, Inc.
3896 Ruskin Street
Las Vegas, NV 89147

Phone: (702) 472-8670
Email: [email protected]
Website: www.coloradogoldmines.com

SOURCE Colorado Gold Mines, Inc.