Colorado Goldfields, Inc. (OTCPK: CGFI.A) signed a memorandum of understanding to acquire American Sierra Gold Corp. (OTCBB: AMNP) in stock on October 20, 2011. Shareholders of American Sierra will receive a ratio of Colorado Goldfields class A shares in exchange for American Sierra shares. The deal is expected to be closed by February 29, 2012.

As of February 16, 2012, the expected closing was extended till August 31, 2012 to provide more time for due diligence.

Colorado Goldfields, Inc. (OTCPK: CGFI.A) cancelled the acquisition of American Sierra Gold Corp. (OTCBB: AMNP) on August 13, 2012. Medinah Gold, Inc. entered into a definitive agreement to acquire American Sierra Gold Corp. (OTCPK:AMNP) in a reverse merger transaction on August 13, 2012.