VANCOUVER, Aug. 31, 2011 /PRNewswire/ - Pan American Goldfields Ltd (OTCQB:"MXOM") (the "Company") is pleased to report a significant increase in gold and silver production at its Cieneguita, Chihuahua, Mexico, joint venture. The Company's partner at the Cieneguita joint venture is Minera Rio Tinto (MRT), a private Chihuahua based company. Under the joint venture agreement the Company receives 20% of the net operating profits after royalties for material processed through the small-scale operation and mined from the first 15 meters depth of the Cieneguita deposit until December 31st 2012. For all other material processed from the property, the Company's interest is 80% and MRT has a 20% working interest.

Anglo American, one of the world's largest miners, today reported strong first half growth with operating profit ahead 40% to $6bn. Chief Executive Cynthia Carroll said that investments made during the downturn would stand them in good stead in the near-term future. "We believe that the fundamentals for the mining industry are very, very strong, and therefore the longer-term outlook is extremely positive." Image by shizhao