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<div style=WIDTH:864px> <p style="FONT-SIZE:14pt; MARGIN:0px; LINE-HEIGHT:16pt" align=center><b>UNITED STATES</b></p>
<p style="FONT-SIZE:14pt; MARGIN:0px; LINE-HEIGHT:16pt" align=center><b>SECURITIES AND EXCHANGE COMMISSION</b></p>
<p style="MARGIN-TOP:0px; FONT-SIZE:12pt; MARGIN-BOTTOM:32px; LINE-HEIGHT:14pt" align=center><b>Washington, D.C. &nbsp;20549</b></p>
<p style="MARGIN-TOP:0px; FONT-SIZE:14pt; MARGIN-BOTTOM:37px; LINE-HEIGHT:16pt" align=center><b>FORM 8-K</b></p>
<p style="MARGIN-TOP:0px; FONT-SIZE:12pt; MARGIN-BOTTOM:16px; LINE-HEIGHT:14pt" align=center><b>CURRENT REPORT
<br>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</b></p> <p style="MARGIN-TOP:0px; FONT-SIZE:12pt; MARGIN-BOTTOM:40px; LINE-HEIGHT:14pt" align=center>Date of Report (Date of earliest event reported): &nbsp;
<b>July 2, 2010</b></p> <p style="FONT-SIZE:18pt; MARGIN:0px; LINE-HEIGHT:20pt" align=center><b>Pan American Goldfields Ltd.</b></p>
<p style="MARGIN-TOP:0px; MARGIN-BOTTOM:33px" align=center>(Exact name of registrant as specified in its charter)</p>
<table style=FONT-SIZE:10pt cellspacing=0 align=center> <tr height=0 style=FONT-SIZE:0px> <td width=192>
<td width=168> <td width=222> <tr> <td width=192 style="BORDER-BOTTOM:#000000 1px solid" valign=top>
<p style="FONT-SIZE:12pt; MARGIN:0px; LINE-HEIGHT:14pt" align=center><b>Delaware</b></p></td> <td width=168 style="BORDER-BOTTOM:#000000 1px solid" valign=top>
<p style="FONT-SIZE:12pt; MARGIN:0px; LINE-HEIGHT:14pt" align=center><b>000-23561</b></p></td> <td width=222 style="BORDER-BOTTOM:#000000 1px solid" valign=top>
<p style="FONT-SIZE:12pt; MARGIN:0px; LINE-HEIGHT:14pt" align=center><b>84-1431797</b></p></td></tr>
<tr> <td width=192 valign=top> <p style="FONT-SIZE:9pt; MARGIN:0px; LINE-HEIGHT:11pt" align=center>(State or other jurisdiction of incorporation)</p></td>
<td width=168 valign=top> <p style="FONT-SIZE:9pt; MARGIN:0px; LINE-HEIGHT:11pt" align=center>(Commission File Number)</p></td>
<td width=222 valign=top> <p style="FONT-SIZE:9pt; MARGIN:0px; LINE-HEIGHT:11pt" align=center>(IRS Employer Identification No.)</p></td></tr></table>
<p style="MARGIN-TOP:0px; MARGIN-BOTTOM:24px" align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; LINE-HEIGHT:14pt" align=center>
<b>Mountain View Center</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; LINE-HEIGHT:14pt" align=center>
<b>12303 Airport Way, Suite&nbsp;200</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; LINE-HEIGHT:14pt" align=center>
<b>Broomfield, CO 80021</b></p> <p style=MARGIN:0px align=center>(Address of principal executive offices) (Zip Code)</p>
<p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; LINE-HEIGHT:14pt" align=center>
<b>(303)&nbsp;327 1587</b></p> <p style=MARGIN:0px align=center>Company&#146;s telephone number, including area code</p>
<p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; LINE-HEIGHT:14pt" align=center>
<b>Not applicable</b></p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:13px" align=center>(Former name or former address if changed since last report)</p>
<p style="MARGIN-TOP:0px; MARGIN-BOTTOM:13px" align=center><br><br></p> <p style="PAGE-BREAK-BEFORE:always; PADDING-BOTTOM:4px; MARGIN:0px; BORDER-BOTTOM:#000000 2px solid" align=center>
<br></p> <p style="MARGIN-TOP:8px; MARGIN-BOTTOM: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="FONT-SIZE:7.5pt; MARGIN:0px">&nbsp;</p> <table style=FONT-SIZE:10pt cellspacing=0> <tr height=0 style=FONT-SIZE:0px>
<td width=34> <td width=829> <tr> <td width=34 valign=top> <p style="MARGIN:0px; FONT-FAMILY:Wingdings" align=justify>&#168;</p></td>
<td width=829 valign=top> <p style=MARGIN:0px align=justify>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </p></td></tr></table>
<p style="FONT-SIZE:7.5pt; MARGIN:0px">&nbsp;</p> <table style=FONT-SIZE:10pt cellspacing=0> <tr height=0 style=FONT-SIZE:0px>
<td width=34> <td width=829> <tr> <td width=34 valign=top> <p style="MARGIN:0px; FONT-FAMILY:Wingdings" align=justify>&#168;</p></td>
<td width=829 valign=top> <p style=MARGIN:0px align=justify>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </p></td></tr></table>
<p style="FONT-SIZE:7.5pt; MARGIN:0px">&nbsp;</p> <table style=FONT-SIZE:10pt cellspacing=0> <tr height=0 style=FONT-SIZE:0px>
<td width=34> <td width=829> <tr> <td width=34 valign=top> <p style="MARGIN:0px; FONT-FAMILY:Wingdings" align=justify>&#168;</p></td>
<td width=829 valign=top> <p style=MARGIN:0px align=justify>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </p></td></tr></table>
<p style="FONT-SIZE:7.5pt; MARGIN:0px">&nbsp;</p> <table style=FONT-SIZE:10pt cellspacing=0> <tr height=0 style=FONT-SIZE:0px>
<td width=34> <td width=829> <tr> <td width=34 valign=top> <p style="MARGIN:0px; FONT-FAMILY:Wingdings" align=justify>&#168;</p></td>
<td width=829 valign=top> <p style=MARGIN:0px align=justify>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </p></td></tr></table>
<p style="MARGIN-TOP:0px; MARGIN-BOTTOM:13px" align=justify><br></p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:13px" align=justify>
<br></p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:13px" align=justify><br><br></p> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px" align=justify>
<br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px><b>Item 1.01&nbsp;&nbsp;Entry into a Material Definitive Agreement</b></p>
<p style="MARGIN:0px; TEXT-INDENT:48px">&nbsp;</p> <p style="MARGIN:0px; TEXT-INDENT:48px">Effective upon the completion of the reincorporation discussed in Items 3.03 and 5.03 below, the Board of Directors of Pan American Goldfields Ltd., a Delaware corporation (&#147;Pan American Delaware&#148;) approved a form of indemnification agreement (the &#147;Indemnification Agreement&#148;) to be entered into with each of Pan American Delaware&#146;s directors and executive officers after completion of the reincorporation discussed in Items 3.03 and 5.03 below. &nbsp;Pan American Delaware&#146;s Board of Directors further authorized Pan American Delaware to enter into the Indemnification Agreement with future directors and executive officers of the Company and other persons or categories of persons that may be designated from time to time by the Board of Directors.</p>
<p style="MARGIN:0px; TEXT-INDENT:48px">&nbsp;</p> <p style="MARGIN:0px; TEXT-INDENT:48px">The Indemnification Agreement supplements and clarifies existing indemnification provisions of Pan American Delaware&#146;s Certificate of Incorporation and Bylaws and, in general, provides for indemnification to the fullest extent permitted by law, subject to the terms and conditions provided in the Indemnification Agreement. &nbsp;The Indemnification Agreement also establishes processes and procedures for indemnification claims, advancement of expenses and costs and other determinations with respect to indemnification.</p>
<p style="MARGIN:0px; TEXT-INDENT:48px">&nbsp;</p> <p style="MARGIN:0px; TEXT-INDENT:48px">The foregoing description of the Indemnification Agreement does not purport to be complete and is qualified in its entirety by reference to the form of Indemnification Agreement, a copy of which is filed herewith as Exhibit&nbsp;10.1 and incorporated herein by reference.</p>
<p style="MARGIN:0px; TEXT-INDENT:48px">&nbsp;</p> <table style=FONT-SIZE:10pt cellspacing=0> <tr height=0 style=FONT-SIZE:0px>
<td width=86> <td width=777> <tr> <td width=86 valign=top> <p style=MARGIN:0px><b>Item&nbsp;3.03</b></p></td>
<td width=777 valign=top> <p style=MARGIN:0px><b>Material Modification to Rights of Security Holders. </b></p></td></tr></table>
<p style=MARGIN:0px><br></p> <p style="MARGIN:0px; TEXT-INDENT:48px">On July 2, 2010, Pan American Goldfields Ltd. (formerly known as Mexoro Minerals Ltd.), a Colorado corporation (&#147;Pan American Colorado&#148;), merged with and into its wholly-owned subsidiary, Pan American Delaware, for the purpose of changing Pan American Colorado&#146;s state of incorporation from Colorado to Delaware (the &#147;Reincorporation&#148;). The Reincorporation was accomplished pursuant to an Agreement and Plan of Merger, dated July 2, 2010 (the &#147;Merger Agreement&#148;), which was approved by Pan American Colorado&#146;s shareholders at the 2010 Annual Meeting held on May 24, 2010.</p>
<p style="MARGIN:0px; TEXT-INDENT:48px">&nbsp;</p> <p style="MARGIN:0px; TEXT-INDENT:48px">As a result of the Reincorporation and pursuant to the Merger Agreement, each share of Pan American Colorado common stock was converted into one share of Pan American Delaware common stock.&nbsp; All options, warrants, purchase rights or other securities of Pan American Colorado outstanding at the time of the Reincorporation entitling the holders thereof to receive shares of Pan American Colorado common stock upon exercise now represent the right to receive an identical number of shares of Pan American Delaware common stock.&nbsp; Each certificate representing shares of common stock of Pan American Colorado now represents the same number of shares of common stock of Pan American Delaware. &nbsp;Pan American Delaware common stock will continue to trade on the OTC Bulletin Board (the &#147;OTCBB&#148;) under the symbol &#147;MXOM&#148; and we expect that the OTCBB will update Pan American Delaware&#146;s stock symbol on or about July 9, 2010. &nbsp;The Reincorporation did not result in any change in the business, management, fiscal year, office locations, assets, liabilities, or employees of Pan American Colorado, and the officers and directors of Pan American Colorado are now the officers and directors of Pan American Delaware.</p>
<p style="MARGIN:0px; TEXT-INDENT:48px">&nbsp;</p> <p style="MARGIN:0px; TEXT-INDENT:48px">As a result of the Reincorporation, Pan American Delaware is the successor issuer to Pan American Colorado and succeeds to the attributes of Pan American Colorado as the registrant in filings made under the Securities and Exchange Act of 1934 (the &#147;Exchange Act&#148;). &nbsp;Pan American Delaware common stock is deemed to be registered under Section&nbsp;12(g)&nbsp;of the Exchange Act, and Pan American Delaware is subject to the informational requirements of the Exchange Act, and the rules&nbsp;and regulations promulgated thereunder, and will file reports and other information with the Securities and Exchange Commission (&#147;SEC&#148;).&nbsp; The foregoing description of the Merger Agreement is intended to be a summary and is qualified in its entirety by reference to such agreement, which is attached hereto as Exhibit&nbsp;2.1.</p>
<p style=MARGIN:0px><br> <hr> <br> <p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify>
<br></p> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=justify>
<br></p> <p style="MARGIN-TOP:9px; MARGIN-BOTTOM:0px; TEXT-INDENT:32px">Pursuant to the Reincorporation, our Board of Directors and shareholders adopted the Certificate of Incorporation (the &#147;Delaware Certificate&#148;) and the Bylaws (the &#147;Delaware Bylaws&#148;) of Pan American Delaware, each which became effective concurrently with the effectiveness of the Reincorporation. The Delaware Certificate and Delaware Bylaws supersede the Articles of Incorporation and Bylaws of Pan American Colorado. &nbsp;The Delaware Certificate and the Delaware Bylaws were adopted in order to reflect the Reincorporation in the State of Delaware and to implement provisions deemed by our Board of Directors to be in the best interests of the company and our shareholders.</p>
<p style="MARGIN-TOP:9px; MARGIN-BOTTOM:0px"><br></p> <table style=FONT-SIZE:10pt cellspacing=0> <tr height=0 style=FONT-SIZE:0px>
<td width=86> <td width=777> <tr> <td width=86 valign=top> <p style=MARGIN:0px><b>Item&nbsp;5.03</b></p></td>
<td width=777 valign=top> <p style=MARGIN:0px><b>Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. </b></p></td></tr></table>
<p style=MARGIN:0px><br></p> <p style="MARGIN:0px; TEXT-INDENT:48px">In connection with our Reincorporation from Colorado to Delaware as disclosed under Item 3.03 above, the Delaware Certificate and Delaware Bylaws are now our new governing documents. &nbsp;The disclosure under Item&nbsp;3.03 is incorporated herein by reference. &nbsp;For a description of the differences between the rights of holders of common stock of Pan American Colorado and the common stock of Pan American Delaware, see a discussion under the heading &#147;Comparison of Shareholder Rights Before and After the Reincorporation&#148; in the Definitive Proxy on Schedule 14A, as filed with the SEC on April 9, 2010. Copies of the Delaware Certificate and Delaware Bylaws are attached hereto as Exhibits 3.1 and 3.2, respectively, and are incorporated herein by reference and made a part hereof.&nbsp;</p>
<p style=MARGIN:0px><br></p> <table style=FONT-SIZE:10pt cellspacing=0> <tr height=0 style=FONT-SIZE:0px>
<td width=86> <td width=777> <tr> <td width=86 valign=top> <p style=MARGIN:0px><b>Item&nbsp;9.01</b></p></td>
<td width=777 valign=top> <p style=MARGIN:0px><b>Financial Statements and Exhibits. </b></p></td></tr></table>
<p style="MARGIN-TOP:4px; MARGIN-BOTTOM:0px; TEXT-INDENT:32px">(d)&nbsp;Exhibits. </p> <p style="FONT-SIZE:8pt; MARGIN:0px">&nbsp;</p>
<table style=FONT-SIZE:10pt cellspacing=0 align=center> <tr height=0 style=FONT-SIZE:0px> <td width=43>
<td width=25> <td width=794> <tr> <td width=43> <p>&nbsp;</p></td> <td width=25 valign=bottom> <p>&nbsp;</p></td>
<td width=794> <p>&nbsp;</p></td></tr> <tr> <td width=43 valign=bottom> <p style=MARGIN:0px align=center>
<b>Exhibit</b></p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:0px; PADDING-BOTTOM:4px; BORDER-BOTTOM:#000000 1px solid" align=center>
<b>No.</b></p></td> <td width=25 valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;</p></td> <td width=794 valign=bottom>
<p style="MARGIN-TOP:5px; MARGIN-BOTTOM:5px; PADDING-BOTTOM:4px; BORDER-BOTTOM:#000000 1px solid" align=center>
<b>Description</b></p></td></tr> <tr> <td width=43> <p>&nbsp;</p></td> <td width=820 colspan=2> <p>&nbsp;</p></td></tr>
<tr> <td width=43 valign=top> <p style="MARGIN-TOP:0px; PADDING-LEFT:16px; MARGIN-BOTTOM:5px; TEXT-INDENT:-16px" align=center>2.1</p></td>
<td width=25 valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;</p></td> <td width=794 valign=top> <p style=MARGIN:0px>
<a href=mexoro_agmtandplanofmergerpa.htm>Agreement and Plan of Merger dated July 2, 2010, by and between Pan American Goldfields Ltd. (formerly known as Mexoro Minerals Ltd.), a Colorado corporation, and Pan American Goldfields Ltd., a Delaware corporation.</a></p></td></tr>
<tr> <td width=43> <p>&nbsp;</p></td> <td width=820 colspan=2> <p>&nbsp;</p></td></tr> <tr> <td width=43 valign=top>
<p style="MARGIN-TOP:0px; PADDING-LEFT:16px; MARGIN-BOTTOM:5px; TEXT-INDENT:-16px" align=center>3.1</p></td>
<td width=25 valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;</p></td> <td width=794 valign=top> <p style=MARGIN:0px>
<a href=panamincorpcert31.htm>Certificate of Incorporation</a>.</p></td></tr> <tr> <td width=43> <p>&nbsp;</p></td>
<td width=820 colspan=2> <p>&nbsp;</p></td></tr> <tr> <td width=43 valign=top> <p style="MARGIN-TOP:0px; PADDING-LEFT:16px; MARGIN-BOTTOM:5px; TEXT-INDENT:-16px" align=center>3.2</p></td>
<td width=25 valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;</p></td> <td width=794 valign=top> <p style=MARGIN:0px>
<a href=mexoro_panamgoldfieldsbylaws.htm>Bylaws</a>.</p></td></tr> <tr> <td width=43> <p>&nbsp;</p></td>
<td width=820 colspan=2> <p>&nbsp;</p></td></tr> <tr> <td width=43 valign=top> <p style="MARGIN-TOP:0px; PADDING-LEFT:16px; MARGIN-BOTTOM:5px; TEXT-INDENT:-16px" align=center>10.1</p></td>
<td width=25 valign=bottom> <p>&nbsp;</p></td> <td width=794 valign=top> <p style=MARGIN:0px><a href=panamindemnificationagmt101.htm>Form of Indemnification Agreement</a>.</p></td></tr></table>
<p style="FONT-SIZE:7.5pt; MARGIN:0px">&nbsp;</p> <p style="MARGIN-TOP:5px; MARGIN-BOTTOM:0px"><br></p>
<p style="MARGIN-TOP:0px; MARGIN-BOTTOM:9px" align=center><br> <hr> <br><br> <p> <p style=MARGIN:0px align=justify>
<br></p> <p style=MARGIN:0px align=justify><br></p> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px" align=justify>
<br></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-TOP:0px; FONT-SIZE:6pt; MARGIN-BOTTOM:8px; LINE-HEIGHT:8pt" align=center>
<b><font style=FONT-SIZE:11pt>SIGNATURES</font></b></p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:20px; TEXT-INDENT:48px">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="MARGIN-TOP:0px; PADDING-LEFT:336px; MARGIN-BOTTOM:40px; FONT-FAMILY:Times New Roman Bold" align=justify>
<b>PAN AMERICAN GOLDFIELDS LTD.</b></p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:-16px" align=justify>Dated: &nbsp;July 6, 2010 </p>
<p style="MARGIN:0px; TEXT-INDENT:336px" align=justify>By: &nbsp;<u>/s/ George Young</u></p> <p style="PADDING-LEFT:360px; MARGIN:0px" align=justify>Name: George Young</p>
<p style="PADDING-LEFT:396px; MARGIN:0px; TEXT-INDENT:-36px">Title: &nbsp;President</p> <p style=MARGIN:0px>
<br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px> <hr> <br> <p>
<p style=MARGIN:0px align=center><br><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify>
<br></p> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=justify>
<br></p> <p style=MARGIN:0px align=center><b>EXHIBIT INDEX</b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:8pt; MARGIN:0px">&nbsp;</p>
<table style=FONT-SIZE:10pt cellspacing=0 align=center> <tr height=0 style=FONT-SIZE:0px> <td width=43>
<td width=25> <td width=794> <tr> <td width=43> <p>&nbsp;</p></td> <td width=25 valign=bottom> <p>&nbsp;</p></td>
<td width=794> <p>&nbsp;</p></td></tr> <tr> <td width=43 valign=bottom> <p style=MARGIN:0px align=center>
<b>Exhibit</b></p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:0px; PADDING-BOTTOM:4px; BORDER-BOTTOM:#000000 1px solid" align=center>
<b>No.</b></p></td> <td width=25 valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;</p></td> <td width=794 valign=bottom>
<p style="MARGIN-TOP:5px; MARGIN-BOTTOM:5px; PADDING-BOTTOM:4px; BORDER-BOTTOM:#000000 1px solid" align=center>
<b>Description</b></p></td></tr> <tr> <td width=43> <p>&nbsp;</p></td> <td width=820 colspan=2> <p>&nbsp;</p></td></tr>
<tr> <td width=43 valign=top> <p style="MARGIN-TOP:0px; PADDING-LEFT:16px; MARGIN-BOTTOM:5px; TEXT-INDENT:-16px" align=center>2.1</p></td>
<td width=25 valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;</p></td> <td width=794 valign=top> <p style=MARGIN:0px>Agreement and Plan of Merger dated July 2, 2010, by and between Pan American Goldfields Ltd. (formerly known as Mexoro Minerals Ltd.), a Colorado corporation, and Pan American Goldfields Ltd., a Delaware corporation.</p></td></tr>
<tr> <td width=43> <p>&nbsp;</p></td> <td width=820 colspan=2> <p>&nbsp;</p></td></tr> <tr> <td width=43 valign=top>
<p style="MARGIN-TOP:0px; PADDING-LEFT:16px; MARGIN-BOTTOM:5px; TEXT-INDENT:-16px" align=center>3.1</p></td>
<td width=25 valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;</p></td> <td width=794 valign=top> <p style=MARGIN:0px>Certificate of Incorporation.</p></td></tr>
<tr> <td width=43> <p>&nbsp;</p></td> <td width=820 colspan=2> <p>&nbsp;</p></td></tr> <tr> <td width=43 valign=top>
<p style="MARGIN-TOP:0px; PADDING-LEFT:16px; MARGIN-BOTTOM:5px; TEXT-INDENT:-16px" align=center>3.2</p></td>
<td width=25 valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;</p></td> <td width=794 valign=top> <p style=MARGIN:0px>Bylaws. </p></td></tr>
<tr> <td width=43> <p>&nbsp;</p></td> <td width=820 colspan=2> <p>&nbsp;</p></td></tr> <tr> <td width=43 valign=top>
<p style="MARGIN-TOP:0px; PADDING-LEFT:16px; MARGIN-BOTTOM:5px; TEXT-INDENT:-16px" align=center>10.1</p></td>
<td width=25 valign=bottom> <p>&nbsp;</p></td> <td width=794 valign=top> <p style=MARGIN:0px>Form of Indemnification Agreement.</p></td></tr></table>
<p style="FONT-SIZE:7.5pt; MARGIN:0px">&nbsp;</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=justify>
<br></p> <p style=MARGIN:0px align=justify><br><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify>
<br></p></div></body>
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{"company-data": {"conformed-name": "MEXORO MINERALS LTD", "cik": "0001046672", "assigned-sic": "1040", "irs-number": "841431797", "state-of-incorporation": "CO", "fiscal-year-end": "0228"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23561", "film-number": "10938643"}, "business-address": {"street1": "MOUNTAIN VIEW CENTER", "street2": "12303 AIRPORT WAY, SUITE 200", "city": "BROOMFIELD", "state": "CO", "zip": "80021", "phone": "303-327-1587"}, "mail-address": {"street1": "MOUNTAIN VIEW CENTER", "street2": "12303 AIRPORT WAY, SUITE 200", "city": "BROOMFIELD", "state": "CO", "zip": "80021"}, "former-company": {"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):
July 2, 2010
Pan American Goldfields Ltd.
(Exact name of registrant as specified in its charter)
Delaware
000-23561
84-1431797
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
Mountain View Center
12303 Airport Way, Suite 200
Broomfield, CO 80021
(Address of principal executive offices) (Zip Code)
(303) 327 1587
Company'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:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
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
Effective upon the completion of the reincorporation discussed in Items 3.03 and 5.03 below, the Board of Directors of Pan American Goldfields Ltd., a Delaware corporation ("Pan American Delaware") approved a form of indemnification agreement (the "Indemnification Agreement") to be entered into with each of Pan American Delaware's directors and executive officers after completion of the reincorporation discussed in Items 3.03 and 5.03 below.  Pan American Delaware's Board of Directors further authorized Pan American Delaware to enter into the Indemnification Agreement with future directors and executive officers of the Company and other persons or categories of persons that may be designated from time to time by the Board of Directors.
The Indemnification Agreement supplements and clarifies existing indemnification provisions of Pan American Delaware's Certificate of Incorporation and Bylaws and, in general, provides for indemnification to the fullest extent permitted by law, subject to the terms and conditions provided in the Indemnification Agreement.  The Indemnification Agreement also establishes processes and procedures for indemnification claims, advancement of expenses and costs and other determinations with respect to indemnification.
The foregoing description of the Indemnification Agreement does not purport to be complete and is qualified in its entirety by reference to the form of Indemnification Agreement, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
Item 3.03
Material Modification to Rights of Security Holders.
On July 2, 2010, Pan American Goldfields Ltd. (formerly known as Mexoro Minerals Ltd.), a Colorado corporation ("Pan American Colorado"), merged with and into its wholly-owned subsidiary, Pan American Delaware, for the purpose of changing Pan American Colorado's state of incorporation from Colorado to Delaware (the "Reincorporation"). The Reincorporation was accomplished pursuant to an Agreement and Plan of Merger, dated July 2, 2010 (the "Merger Agreement"), which was approved by Pan American Colorado's shareholders at the 2010 Annual Meeting held on May 24, 2010.
As a result of the Reincorporation and pursuant to the Merger Agreement, each share of Pan American Colorado common stock was converted into one share of Pan American Delaware common stock.  All options, warrants, purchase rights or other securities of Pan American Colorado outstanding at the time of the Reincorporation entitling the holders thereof to receive shares of Pan American Colorado common stock upon exercise now represent the right to receive an identical number of shares of Pan American Delaware common stock.  Each certificate representing shares of common stock of Pan American Colorado now represents the same number of shares of common stock of Pan American Delaware.  Pan American Delaware common stock will continue to trade on the OTC Bulletin Board (the "OTCBB") under the symbol "MXOM" and we expect that the OTCBB will update Pan American Delaware's stock symbol on or about July 9, 2010.  The Reincorporation did not result in any change in the business, management, fiscal year, office locations, assets, liabilities, or employees of Pan American Colorado, and the officers and directors of Pan American Colorado are now the officers and directors of Pan American Delaware.
As a result of the Reincorporation, Pan American Delaware is the successor issuer to Pan American Colorado and succeeds to the attributes of Pan American Colorado as the registrant in filings made under the Securities and Exchange Act of 1934 (the "Exchange Act").  Pan American Delaware common stock is deemed to be registered under Section 12(g) of the Exchange Act, and Pan American Delaware is subject to the informational requirements of the Exchange Act, and the rules and regulations promulgated thereunder, and will file reports and other information with the Securities and Exchange Commission ("SEC").  The foregoing description of the Merger Agreement is intended to be a summary and is qualified in its entirety by reference to such agreement, which is attached hereto as Exhibit 2.1.
Pursuant to the Reincorporation, our Board of Directors and shareholders adopted the Certificate of Incorporation (the "Delaware Certificate") and the Bylaws (the "Delaware Bylaws") of Pan American Delaware, each which became effective concurrently with the effectiveness of the Reincorporation. The Delaware Certificate and Delaware Bylaws supersede the Articles of Incorporation and Bylaws of Pan American Colorado.  The Delaware Certificate and the Delaware Bylaws were adopted in order to reflect the Reincorporation in the State of Delaware and to implement provisions deemed by our Board of Directors to be in the best interests of the company and our shareholders.
Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
In connection with our Reincorporation from Colorado to Delaware as disclosed under Item 3.03 above, the Delaware Certificate and Delaware Bylaws are now our new governing documents.  The disclosure under Item 3.03 is incorporated herein by reference.  For a description of the differences between the rights of holders of common stock of Pan American Colorado and the common stock of Pan American Delaware, see a discussion under the heading "Comparison of Shareholder Rights Before and After the Reincorporation" in the Definitive Proxy on Schedule 14A, as filed with the SEC on April 9, 2010. Copies of the Delaware Certificate and Delaware Bylaws are attached hereto as Exhibits 3.1 and 3.2, respectively, and are incorporated herein by reference and made a part hereof.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No.
Description
2.1
Agreement and Plan of Merger dated July 2, 2010, by and between Pan American Goldfields Ltd. (formerly known as Mexoro Minerals Ltd.), a Colorado corporation, and Pan American Goldfields Ltd., a Delaware corporation.
3.1
Certificate of Incorporation
.
3.2
Bylaws
.
10.1
Form of Indemnification Agreement
.
SIGNATURES
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.
Dated:  July 6, 2010
By:
/s/ George Young
Name: George Young
Title:  President
EXHIBIT INDEX
Exhibit
No.
Description
2.1
Agreement and Plan of Merger dated July 2, 2010, by and between Pan American Goldfields Ltd. (formerly known as Mexoro Minerals Ltd.), a Colorado corporation, and Pan American Goldfields Ltd., a Delaware corporation.
3.1
Certificate of Incorporation.
3.2
Bylaws.
10.1
Form of Indemnification Agreement.