American Goldfields Announces Additional Results for Imperial Mine Exploration Project

February 2, 2005

American Goldfields Inc. (AGFL:OTCBB) is pleased to announce receipt of channel sample results from its Imperial Mine exploration project (ìImperialî), in the Railroad Springs mining district near Goldfield, Nevada.

 

A total of 40 channel samples were taken across veins exposed in the Upper and Lower adits at Imperial. Management is encouraged by the high-grade results, as listed below.

 

These results, in conjunction with the previously released high-grade assays from drill hole IR-4, have led management to decide to initiate a Phase 2 drill program which will further test gold mineralization found to date as well as new Carlin-style targets that occur in the eastern portion of the property.

 

IMPERIAL UPPER ADIT RESULTS                  IMPERIAL LOWER ADIT RESULTS   
Sample# Width   Gold      Silver     Sample # Width   Gold      Silver
       (feet)  (oz/ton)  (oz/ton)            (feet)  (oz/ton)  (oz/ton)
IUA 0    6.0     0.232    0.123      ILA 50    1.0    0.143     0.742
IUA 10   4.0     0.507    0.464      ILA 70    1.5    0.033     0.053
IUA 30   4.0     0.035    0.020      ILA 90    2.5    0.183     0.850
IUA 40   4.0     0.275    0.079      ILA 110   3.0    0.154     0.844
IUA 50   2.5     0.248    0.201      ILA 137   2.0    0.506     1.451
IUA 65   3.0     0.340    0.239      ILA 152   1.5    0.045     0.085
IUA 70   3.0     0.271    0.213      ILA 170   1.5    0.004     0.015
IUA 80   3.0     0.165    0.239      ILA 202   2.0    0.048     0.020
IUA 93   2.0     0.249    0.181      ILA 250   2.5    0.053    <0.015
IUA 105  4.0     0.331    0.175      ILA 300   3.0    0.004     0.035
IUA 120  3.0     0.615    0.978      ILA 350   3.0    0.002     0.064
IUA 128  2.5     1.517    1.083      ILA 400   2.0    0.013     0.015
IUA 140  1.5     0.106    0.149      ILA 420   2.5    0.341     0.044
IUA 150  1.5     0.045    0.018      ILA 430   1.5    0.379     0.020
IUA 175  2.5     7.636    0.251      ILA 444   2.0    0.159     0.020
IUA 190  3.0     0.112    0.032      ILA 450   3.0    0.102     0.023
IUA 210  3.0     0.127    0.114      ILA 460   1.5    0.089     0.053
IUA 230  2.5     0.012   <0.015      ILA 500   2.5    0.178     0.397
IUA 250  2.0     0.014    0.018      ILA 510   3.0    0.497     0.131
                                     ILA 520   3.0    0.148     0.155
                                     ILA 527   2.0    0.113     0.018

(Gold values are average of 2 assays. All assaying by ALS Chemex)

 

Exploration is progressing on the companyís properties and management expects to be releasing a steady flow of results over the coming months.

 

"The Imperial is a promising mineral exploration property, in an area which we believe to be one of the highest-profile mineral regions in Nevada," said Donald Neal, President and CEO. "We believe that the Imperial, together with our other  highly-prospective Hercules and Gilman projects, comprise a significant foothold in what has historically been one of the most valuable and concentrated gold districts in the world."

 

Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, 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. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov.

 

Terry Rajan

Investor Relations

Toll Free: 1-800-942-2201

Email: info@americangoldfields.com

Website: www.americangoldfields.com

 

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