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<head><title>Converted by EDGARwiz</title> </head> <body style="MARGIN-TOP:0px; FONT-FAMILY:Times New Roman; COLOR:#000000; FONT-SIZE:10pt"> <div style="WIDTH:891px; HEIGHT:2056px"> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-SIZE:14pt" align=center><b>UNITED STATES</b></p> <p style="MARGIN:0px; FONT-SIZE:14pt" align=center><b>SECURITIES AND EXCHANGE COMMISSION</b></p> <p style=MARGIN:0px align=center><b>Washington, D.C. 20549</b></p> <p style=MARGIN:0px align=center>&nbsp;</p> <p style=MARGIN:0px align=center>&nbsp; </p> <p style=MARGIN:0px align=center>________________________<br></p> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-SIZE:18pt" align=center><b>FORM 8-K</b></p> <p style=MARGIN:0px align=center>_______________________&nbsp;</p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b>CURRENT REPORT</b></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b>Pursuant to Section 13 or 15(d) of</b></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b>the Securities Exchange Act of 1934</b></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=center><b>Date of Report (date of earliest event reported):&nbsp;&nbsp;May 3, 2012</b></p> <p style=MARGIN:0px align=center>&nbsp;</p> <p style=MARGIN:0px align=center>_____________________________________________</p> <p style=MARGIN:0px align=center><br>&nbsp;</p> <p style="MARGIN:0px; FONT-SIZE:24pt" align=center><b>PAN AMERICAN GOLDFIELDS LTD.</b></p> <p style=MARGIN:0px align=center>(Exact name of Registrant as specified in its charter)</p> <p style=MARGIN:0px><br></p> <table style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0 align=center> <tr height=0 style=FONT-SIZE:0px> <td width=121> <td width=7> <td width=92> <td width=7> <td width=106 /> </tr><tr> <td width=121 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=left><b>&nbsp;&nbsp;&nbsp;&nbsp; Delaware</b></p></td> <td width=7 style=MARGIN-TOP:0px valign=bottom> <p style=MARGIN:0px>&nbsp; </p></td> <td width=92 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center><b>000-23561</b></p></td> <td width=7 style=MARGIN-TOP:0px valign=bottom> <p style=MARGIN:0px>&nbsp; </p></td> <td width=106 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center><b>84-1431797</b></p></td></tr> <tr> <td width=121 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px>(State or other jurisdiction of </p> <p style=MARGIN:0px>incorporation or organization)</p></td> <td width=7 style=MARGIN-TOP:0px valign=bottom> <p style=MARGIN:0px>&nbsp; </p></td> <td width=92 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center>(Commission File </p> <p style=MARGIN:0px align=center>Number)</p></td> <td width=7 style=MARGIN-TOP:0px valign=bottom> <p style=MARGIN:0px>&nbsp; </p></td> <td width=106 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center>(I.R.S. Employer </p> <p style=MARGIN:0px align=center>Identification Number)</p></td></tr></table> <p style=MARGIN:0px>&nbsp;</p> <table width=100% style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr height=0 style=FONT-SIZE:0px> <td /> </tr><tr> <td style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px>&nbsp; </p></td></tr> <tr> <td style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center>595 HOWE STREET, UNIT 906</p> <p style=MARGIN:0px align=center><u>VANCOUVER, CANADA A1 V6C 2T5</u></p></td></tr> <tr> <td style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><b>(Address of principal executive offices) (Zip Code)</b></p></td></tr> <tr> <td style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr> <td style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><u>(604) 681-1163</u></p></td></tr> <tr> <td style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><b>(Registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s telephone number, including area code)</b></p></td></tr> <tr> <td style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px>&nbsp; </p></td></tr> <tr> <td style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><b><u>Not Applicable</u></b></p></td></tr> <tr> <td style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><b>(Former name or former address, if changed since last report)</b></p></td></tr></table> <p style=MARGIN:0px align=center>&nbsp; </p> <p style=MARGIN:0px align=center>_____________________________________<br></p> <p style=MARGIN:0px>&nbsp;</p> <p style=MARGIN:0px>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p> <p style=MARGIN:0px>&nbsp;</p> <p style="MARGIN:0px; FONT-FAMILY:Wingdings">o<font style="FONT-FAMILY:Times New Roman">&nbsp;&nbsp;&nbsp;</font><font style="FONT-FAMILY:Times New Roman">&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p> <p style=MARGIN:0px>&nbsp;</p> <p style="MARGIN:0px; FONT-FAMILY:Wingdings">o<font style="FONT-FAMILY:Times New Roman">&nbsp;&nbsp;&nbsp;</font><font style="FONT-FAMILY:Times New Roman">&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p> <p style=MARGIN:0px>&nbsp;</p> <p style="MARGIN:0px; FONT-FAMILY:Wingdings">o<font style="FONT-FAMILY:Times New Roman">&nbsp;&nbsp;&nbsp;</font><font style="FONT-FAMILY:Times New Roman">&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p> <p style=MARGIN:0px>&nbsp;</p> <p style="MARGIN:0px; FONT-FAMILY:Wingdings">o<font style="FONT-FAMILY:Times New Roman">&nbsp;&nbsp;&nbsp;</font><font style="FONT-FAMILY:Times New Roman">&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px> <hr> <br></p> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px"><b>Item 1.01 Entry Into a Material Definitive Agreement</b></p> <p style=MARGIN:0px><b>Item 2.01 Completion of Acquisition or Disposition of Assets</b></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=justify>On May 3, 2012, Pan American Goldfields, Ltd.<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>) wholly-owned subsidiary, Sunburst Mining de Mexico S.A. de C.V. (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Sunburst<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>), entered into an agreement with Minera Rio Tinto S.A. de C.V. (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>MRT<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>) to transfer its interest in concessions at the Encino Gordo project located in the Barranca section of Chihuahua State in Mexico, which included two concessions held by Sunburst and two additional concessions Sunburst had an option to acquire. &nbsp;MRT is a mining operator in Chihuahua, Mexico owned by Mario Ayub. &nbsp;Mr. Ayub is a significant stockholder in the Company, and was formally on the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Board of Directors. &nbsp;MRT is conducting mining operations on the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Cieneguita Project located in the Baja Tarahumara section of Chihuahua State in Mexico, which is the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s sole source of revenues, pursuant to the terms of a development agreement. &nbsp;In connection with the transfer, MRT paid Sunburst $100,000 (US), waived $200,000 (US) in payments the Company owed to MRT in connection with the Cieneguita Project and agreed to assume all of Sunburst<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s obligations related to the transferred concessions. &nbsp;The Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Board of Directors determined to transfer the concessions in order to focus its resources on completing the Preliminary Economic Assessment study for the Cieneguita Project. &nbsp;Before entering into the transaction, the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Board of Directors considered bids from other interested third parties, and determined that the transaction with MRT was the best offer received by the Company and that it was in the best interests of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s stockholders to transfer the concessions.</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px>The foregoing description is qualified in its entirety by the full text of the transfer agreement between Sunburst and MRT, which is filed as Exhibit 10.1 and is incorporated by reference herein.</p> <p style=MARGIN:0px>&nbsp;</p> <p style=MARGIN:0px>&nbsp;</p> <p style=MARGIN:0px><br>&nbsp;</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><b>ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS</b></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.</p> <p style=MARGIN:0px><br></p> <p style="MARGIN-TOP:0px; WIDTH:54px; MARGIN-BOTTOM:-2px; FLOAT:left"><b><u>Exhibit</u></b></p> <p style="TEXT-INDENT:-2px; MARGIN:0px"><b><u>Description</u></b></p> <p style="MARGIN:0px; CLEAR:left"><br></p> <p style="MARGIN-TOP:0px; WIDTH:54px; MARGIN-BOTTOM:-2px; FLOAT:left">10.1</p> <p style="TEXT-INDENT:-2px; MARGIN:0px">Contract to Transfer Mining Concessions, dated May 3, 2012.</p> <p style="MARGIN:0px; CLEAR:left"><br></p> <p style=MARGIN:0px> <hr> <br></p> <p style=MARGIN:0px>&nbsp;&nbsp;</p> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN:0px; FONT-SIZE:8pt" align=right>&nbsp; </p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=center><br><br></p> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px" align=center><b>SIGNATURE</b></p> <p style=MARGIN:0px>&nbsp;</p> <p style="TEXT-INDENT:20px; MARGIN:0px">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p> <p style="TEXT-INDENT:20px; MARGIN:0px">&nbsp;</p> <p style=MARGIN:0px>&nbsp;</p> <p style="MARGIN-TOP:0px; WIDTH:288px; MARGIN-BOTTOM:-2px; FLOAT:left">&nbsp; </p> <p style="TEXT-INDENT:-2px; MARGIN:0px"><b>PAN AMERICAN GOLDFIELDS LTD.</b></p> <p style="MARGIN-TOP:0px; WIDTH:288px; MARGIN-BOTTOM:-2px; FLOAT:left; CLEAR:left">&nbsp; </p> <p style="MARGIN-TOP:0px; WIDTH:28px; MARGIN-BOTTOM:-2px; FLOAT:left">&nbsp; </p> <p style="TEXT-INDENT:-2px; MARGIN:0px">&nbsp; </p> <p style="MARGIN-TOP:0px; WIDTH:288px; MARGIN-BOTTOM:-2px; FLOAT:left; CLEAR:left">Date: May 9, 2012</p> <p style="MARGIN-TOP:0px; WIDTH:28px; MARGIN-BOTTOM:-2px; FLOAT:left">By:</p> <p style="TEXT-INDENT:-2px; MARGIN:0px">/s/ Salil Dhaumya</p> <p style="MARGIN-TOP:0px; WIDTH:288px; MARGIN-BOTTOM:-2px; FLOAT:left; CLEAR:left">&nbsp; </p> <p style="MARGIN-TOP:0px; WIDTH:28px; MARGIN-BOTTOM:-2px; FLOAT:left">&nbsp; </p> <p style="TEXT-INDENT:-2px; MARGIN:0px">Salil Dhaumya</p> <p style="MARGIN-TOP:0px; WIDTH:288px; MARGIN-BOTTOM:-2px; FLOAT:left; CLEAR:left">&nbsp; </p> <p style="MARGIN-TOP:0px; WIDTH:28px; MARGIN-BOTTOM:-2px; FLOAT:left">&nbsp; </p> <p style="TEXT-INDENT:-2px; MARGIN:0px">Chief Financial Officer</p> <p style="MARGIN:0px; CLEAR:left"><br></p> <p style="MARGIN:0px; FONT-SIZE:8pt">&nbsp; </p> <p style="MARGIN:0px; FONT-SIZE:8pt" align=center>&nbsp; </p> <p style=MARGIN:0px align=center> <hr> <br></p> <p style="MARGIN:0px; FONT-SIZE:8pt" align=right>&nbsp; </p> <p style=MARGIN:0px align=center><br><br></p> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px" align=center><b>EXHIBIT INDEX</b></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-TOP:0px; WIDTH:60px; MARGIN-BOTTOM:-2px; FLOAT:left"><b><u>Exhibit</u></b></p> <p style="TEXT-INDENT:-2px; MARGIN:0px"><b><u>Description</u></b></p> <p style="MARGIN:0px; CLEAR:left">&nbsp;</p> <p style="MARGIN-TOP:0px; WIDTH:60px; MARGIN-BOTTOM:-2px; FLOAT:left">10.1</p> <p style="TEXT-INDENT:-2px; MARGIN:0px">Contract to Transfer Mining Concessions, dated May 3, 2012.</p> <p style="MARGIN:0px; CLEAR:left"><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br><br></p></div></body>
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{"company-data": {"conformed-name": "PAN AMERICAN GOLDFIELDS LTD", "cik": "0001046672", "assigned-sic": "1040", "irs-number": "841431797", "state-of-incorporation": "DE", "fiscal-year-end": "0228"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23561", "film-number": "12827396"}, "business-address": {"street1": "595 HOWE STREET, UNIT 906", "city": "VANCOUVER", "state": "A1", "zip": "V6C 2T5", "phone": "303-327-1587"}, "mail-address": {"street1": "595 HOWE STREET, UNIT 906", "city": "VANCOUVER", "state": "A1", "zip": "V6C 2T5"}, "former-company": [{"former-conformed-name": "MEXORO MINERALS LTD", "date-changed": "20060213"}, {"former-conformed-name": "SUNBURST ACQUISITIONS IV INC", "date-changed": "19970924"}]}
Converted by EDGARwiz
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________
FORM 8-K
_______________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):  May 3, 2012
_____________________________________________
PAN AMERICAN GOLDFIELDS LTD.
(Exact name of Registrant as specified in its charter)
Delaware
000-23561
84-1431797
(State or other jurisdiction of
incorporation or organization)
(Commission File
Number)
(I.R.S. Employer
Identification Number)
595 HOWE STREET, UNIT 906
VANCOUVER, CANADA A1 V6C 2T5
(Address of principal executive offices) (Zip Code)
(604) 681-1163
(Registrant
'
s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
_____________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry Into a Material Definitive Agreement
Item 2.01 Completion of Acquisition or Disposition of Assets
On May 3, 2012, Pan American Goldfields, Ltd.
'
s (the
"
Company
"
) wholly-owned subsidiary, Sunburst Mining de Mexico S.A. de C.V. (
"
Sunburst
"
), entered into an agreement with Minera Rio Tinto S.A. de C.V. (
"
MRT
"
) to transfer its interest in concessions at the Encino Gordo project located in the Barranca section of Chihuahua State in Mexico, which included two concessions held by Sunburst and two additional concessions Sunburst had an option to acquire.  MRT is a mining operator in Chihuahua, Mexico owned by Mario Ayub.  Mr. Ayub is a significant stockholder in the Company, and was formally on the Company
'
s Board of Directors.  MRT is conducting mining operations on the Company
'
s Cieneguita Project located in the Baja Tarahumara section of Chihuahua State in Mexico, which is the Company
'
s sole source of revenues, pursuant to the terms of a development agreement.  In connection with the transfer, MRT paid Sunburst $100,000 (US), waived $200,000 (US) in payments the Company owed to MRT in connection with the Cieneguita Project and agreed to assume all of Sunburst
'
s obligations related to the transferred concessions.  The Company
'
s Board of Directors determined to transfer the concessions in order to focus its resources on completing the Preliminary Economic Assessment study for the Cieneguita Project.  Before entering into the transaction, the Company
'
s Board of Directors considered bids from other interested third parties, and determined that the transaction with MRT was the best offer received by the Company and that it was in the best interests of the Company
'
s stockholders to transfer the concessions.
The foregoing description is qualified in its entirety by the full text of the transfer agreement between Sunburst and MRT, which is filed as Exhibit 10.1 and is incorporated by reference herein.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d)       Exhibits.
Exhibit
Description
10.1
Contract to Transfer Mining Concessions, dated May 3, 2012.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PAN AMERICAN GOLDFIELDS LTD.
Date: May 9, 2012
By:
/s/ Salil Dhaumya
Salil Dhaumya
Chief Financial Officer
EXHIBIT INDEX
Exhibit
Description
10.1
Contract to Transfer Mining Concessions, dated May 3, 2012.