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Colorado Goldfields Inc. <br /> 26 June 2012 <br /> Annual Report <br /> Division of Reclamation, Mining, & safety <br /> 1313 Sherman St Ste 215 <br /> Denver, CO 80203-2243 <br /> RE: 2012 Annual Report, Permit: P-2011-015, Kittimac Tailings Repository <br /> Dear Sir or Madam, <br /> Enclosed please find: <br /> 1. Completed Annual Fee and Report Request form <br /> 2. Narrative report <br /> 3. Map(s). Note that full size maps are already on file with the Division <br /> 4. Drill Hole Coordinates <br /> 5. Drill Hole Closure Report <br /> 6. Documentation of the financial warranty deposit <br /> 7. Check in the amount of$86.00 <br /> Thank you. If you have any questions or if I may be of further assistance, do not <br /> hesitate to call me directly. <br /> Sincerely, <br /> < r <br /> Colorado Goldfields Inc. <br /> C. Stephen Guyer, Chief Financial Officer <br /> CSG: mm <br /> Wallace H. Erickson—DRMS DFO <br /> Steve Shuey—DRMS GJFO <br /> 7986 South Datura Circle West" Littleton, CO 80120"(303)683-3338 <br />