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| Large      accelerated filer  [  ]                                       | Accelerated      filer  [  ] |
|----------------------------------------------------------------------------------------------|--------------------------------------------------|
| Non-accelerated      filer [  ] (Do not check if a smaller reporting      company) | Smaller      reporting company  [X]    |

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| PART      I - Financial Information                                                                                                                                          |   | Page |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------|
| Item      1. Financial Statements                                                                                                                                            |   | 3    |
| Balance      Sheets April 30, 2010, and January 31, 2010                                                                                                                     |   | 3    |
| Statements      of Loss for the three month periods ended April 30, 2010 and 2009, and for      the period from inception on December 21, 2001 to April 30,      2010.       |   | 4    |
| Statements      of Cash Flows for the three-month periods ended April 30, 2010 and 2009,      and for the period from inception on December 21, 2001 to April 30,      2010. |   | 5    |
| Notes      to the Financial Statements                                                                                                                                       |   | 6    |
| Item      2. Management’s Discussion and Analysis of Financial Condition and Results      of Operations                                                                |   | 9    |
| Item      3. Quantitative and Qualitative Disclosures About Market    Risk                                                                                                   |   | 10   |
| Item      4. Controls and Procedures                                                                                                                                         |   | 10   |
| PART      II – Other Information                                                                                                                                       |   | 11   |
| Item      1. Legal Proceedings                                                                                                                                               |   | 11   |
| Item      1A. Risk Factors                                                                                                                                                   |   | 11   |
| Item      2. Unregistered Sales of Equity Securities and Use of    Proceeds                                                                                                  |   | 11   |
| Item      3. Defaults Upon Senior Securities                                                                                                                                 |   | 11   |
| Item      4. Submission of Matters to a Vote of Security Holders                                                                                                             |   | 11   |
| Item      5. Other Information                                                                                                                                               |   | 11   |
| Item      6. Exhibits                                                                                                                                                        |   | 11   |

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|                                                                                                                       |   |           |       |   |             |   |
|----------------------------------------------------------------------------------------------------------------------------|--------|----------------|------------|--------|------------------|--------|
| American      Goldfields Inc.                                                                                              |   |           |       |   |             |   |
| (An      Exploration Stage Company)                                                                                        |   |           |       |   |             |   |
| Consolidated      Balance Sheets                                                                                           |   |           |       |   |             |   |
|                                                                                                                       |   | (Unaudited)    |       |   |             |   |
|                                                                                                                       |   | April      30, |       |   | January      31, |   |
|                                                                                                                       |   | 2010           |       |   | 2010             |   |
| Assets                                                                                                                     |   |           |       |   |             |   |
| CURRENT      ASSETS                                                                                                        |   |           |       |   |             |   |
|      Cash      and cash equivalents                                                               |   | $              | 27,850     |   |             | $      | 811 |   |
|      Prepaid      expenses                                                                        |   |           | -          |   |             |   | - |   |
|                                                                                                                       |   |           |       |   |             |   |   |   |
|           Total      current assets                                      |   |           | 27,850     |   |             |   | 811 |   |
|                                                                                                                       |   |           |       |   |             |   |   |   |
| Reclamation      deposits                                                                                                  |   |           | 41,800     |   |             |   | 41,800 |   |
|                                                                                                                       |   |           |       |   |             |   |   |   |
| Total      Assets                                                                                                          |   | $              | 69,650     |   |             | $      | 42,611 |   |
|                                                                                                                       |   |           |       |   |             |   |   |   |
| Liabilities                                                                                                                |   |           |       |   |             |   |   |   |
| CURRENT      LIABILITIES                                                                                                   |   |           |       |   |             |   |   |   |
|      Accounts      payable and accrued liabilities                                                |   | $              | 38,934     |   |             | $      | 47,982 |   |
|                                                                                                                       |   |           |       |   |             |   |   |   |
|           Total      current liabilities                                 |   |           | 38,934     |   |             |   | 47,982 |   |
|                                                                                                                       |   |           |       |   |             |   |   |   |
| Stockholders'      Equity                                                                                                  |   |           |       |   |             |   |   |   |
|                                                                                                                       |   |           |       |   |             |   |   |   |
| SHARE      CAPITAL                                                                                                         |   |           |       |   |             |   |   |   |
|      Authorized:                                                                                  |   |           |       |   |             |   |   |   |
|           600,000,000      (January 31, 2010 – 600,000,000) common |   |           |       |   |             |   |   |   |
|             shares      with a par value of $0.001 per share   |   |           |       |   |             |   |   |   |
|           100,000,000      preferred shares with a par value of $0.001   |   |           |       |   |             |   |   |   |
|             per      share                                     |   |           |       |   |             |   |   |   |
|      Issued:                                                                                      |   |           |       |   |             |   |   |   |
|           21,346,932      (January 31, 2010 – 21,292,878) common   |   |           |       |   |             |   |   |   |
|           issued      and outstanding at April 30, 2010                  |   |           | 21,347     |   |             |   | 21,293 |   |
|      Additional      paid-in capital                                                              |   |           | 3,177,913  |   |             |   | 3,137,967 |   |
|      Warrants                                                                                     |   |           | 829,604    |   |             |   | 829,604 |   |
| DEFICIT      ACCUMULATED DURING THE EXPLORATION STAGE                                                                      |   |           | (3,998,148 | )      |             |   | (3,994,235 | ) |
|                                                                                                                       |   |           |       |   |             |   |   |   |
|           Total      stockholders' equity                                |   |           | 30,716     |   |             |   | (5,371 | )  |
|                                                                                                                       |   |           |       |   |             |   |   |   |
| Total      Liabilities and Stockholders' Equity                                                                            |   | $              | 69,650     |   |             | $      | 42,611 |   |

----

|                                                                    |   |                                            |       |   |      |   |       |                      |   |
|-------------------------------------------------------------------------|--------|-------------------------------------------------|------------|--------|-----------|--------|------------|---------------------------|--------|
| American      Goldfields Inc.                                           |   |                                            |       |   |      |   |       |                      |   |
| (An      Exploration Stage Company)                                     |   |                                            |       |   |      |   |       |                      |   |
| Consolidated      Statements of Operations                              |   |                                            |       |   |      |   |       |                      |   |
| (Unaudited)                                                             |   |                                            |       |   |      |   |       |                      |   |
|                                                                    |   | For      the three-month periods ended April 30 |       |   | Inception |   |
|                                                                    |   |                                            |       |   |      |   |       | December      21, 2001 to |   |
|                                                                    |   |                                            |       |   |      |   |       |                      |   |
|                                                                    |   | 2010                                            |       |   | 2009      |   |       | April      30,2010        |   |
| Expenses                                                                |   |                                            |       |   |      |   |       |                      |   |
|      Mineral      claim payments and           |   |                                            |       |   |      |   |       |                      |   |
|        exploration      expenditures |   | $                                               | -          |   |      | $      | 10,528     |                      |   | $ | 2,800,525 |   |
|      Office      and sundry                    |   |                                            | 3,363      |   |      |   | 428        |                      |   |   | 535,473 |   |
|      Rent                                      |   |                                            | -          |   |      |   | 1,676      |                      |   |   | 29,018 |   |
|      Professional      fees                    |   |                                            | -          |   |      |   | 2,300      |                      |   |   | 237,501 |   |
|      Transfer      agent fees                  |   |                                            | 50         |   |      |   | -          |                      |   |   | 6,390 |   |
|      Amortization                              |   |                                            | -          |   |      |   | -          |                      |   |   | 18,000 |   |
|      Interest      expense                     |   |                                            | -          |   |      |   | -          |                      |   |   | 1,070 |   |
|      Directors’      fees                |   |                                            | 500        |   |      |   | 894        |                      |   |   | 35,654 |   |
|      Consulting      fees                      |   |                                            | -          |   |      |   | -          |                      |   |   | 583,027 |   |
| Total      expenses                                                     |   |                                            | (3,913     | )      |      |   | (15,826    | )                         |   |   | (4,246,658 | ) |
|                                                                    |   |                                            |       |   |      |   |       |                      |   |   |   |   |
| Gain      on disposal of mineral properties                             |   |                                            | -          |   |      |   | -          |                      |   |   | 236,745 |   |
| Interest      income                                                    |   |                                            | -          |   |      |   | 33         |                      |   |   | 11,765 |   |
|                                                                    |   |                                            |       |   |      |   |       |                      |   |   |   |   |
| Net      loss for the period                                            |   | $                                               | (3,913     | )      |      | $      | (15,793    | )                         |   | $ | (3,998,148 | ) |
| Basic      and diluted loss per share                                   |   |                                            |       |   |      |   |       |                      |   |   |   |   |
|     of      common stock                            |   | $                                               | (0.00      | )      |      | $      | (0.00      | )                         |   |   |   |   |
|                                                                    |   |                                            |       |   |      |   |       |                      |   |   |   |   |
| Weighted      average shares outstanding                                |   |                                            |       |   |      |   |       |                      |   |   |   |   |
| –      basic and diluted                                          |   |                                            | 21,311,706 |   |      |   | 21,292,878 |                      |   |   |   |   |

----

|                                                                                                |   |                                           |    |   |                      |   |    |                |   |
|-----------------------------------------------------------------------------------------------------|--------|------------------------------------------------|---------|--------|---------------------------|--------|---------|---------------------|--------|
| American      Goldfields Inc.                                                                       |   |                                           |    |   |                      |   |    |                |   |
| (An      Exploration Stage Company)                                                                 |   |                                           |    |   |                      |   |    |                |   |
| Consolidated      Statements of Cash Flows                                                          |   |                                           |    |   |                      |   |    |                |   |
| (Unaudited)                                                                                         |   |                                           |    |   |                      |   |    |                |   |
|                                                                                                |   |                                           |    |   |                      |   |    | Inception           |   |
|                                                                                                |   | For      the Three Month Period Ended April 30 |    |   | December      21, 2001 to |   |
|                                                                                                |   | 2010                                           |    |   | 2009                      |   |    | April      30, 2010 |   |
| Cash      provided by (used in):                                                                    |   |                                           |    |   |                      |   |    |                |   |
|                                                                                                |   |                                           |    |   |                      |   |    |                |   |
| Cash      flows used in operating activities                                                        |   |                                           |    |   |                      |   |    |                |   |
|      Net      loss for the period                                          |   | $                                              | (3,913  | )      |                      | $      | (15,793 | )                   |   | $ | (3,998,148 | ) |
|      Adjustments      to reconcile net loss to net                         |   |                                           |    |   |                      |   |    |                |   |   |   |   |
|        Cash      flows used in operating activities:             |   |                                           |    |   |                      |   |    |                |   |   |   |   |
|          Stock-based      compensation                 |   |                                           | -       |   |                      |   | -       |                |   |   | 1,729,000 |   |
|          Amortization                                  |   |                                           | -       |   |                      |   | -       |                |   |   | 18,000 |   |
|        Changes      in assets and liabilities                    |   |                                           |    |   |                      |   |    |                |   |   |   |   |
|          Prepaid      expenses                         |   |                                           | -       |   |                      |   | 894     |                |   |   | - |   |
|          Accounts      payable and accrued liabilities |   |                                           | (9,048  | )      |                      |   | (8,389  | )                   |   |   | 43,477 |   |
|       Net      cash used in operating activities                      |   |                                           | (12,961 | )      |                      |   | (23,288 | )                   |   |   | (2,207,671 | ) |
|                                                                                                |   |                                           |    |   |                      |   |    |                |   |   |   |   |
| Cash      flows from (used in)financing activities                                                  |   |                                           |    |   |                      |   |    |                |   |   |   |   |
|       Proceeds      from loan                                         |   |                                           | -       |   |                      |   | -       |                |   |   | 60,000 |   |
|       Repayment      of loan principal                                |   |                                           | -       |   |                      |   | -       |                |   |   | (60,000 | ) |
|       Proceeds      from the issue of common stock                    |   |                                           | -       |   |                      |   | -       |                |   |   | 1,304,571 |   |
|       Proceeds      from the exercise of stock options                |   |                                           | -       |   |                      |   | -       |                |   |   | 774,000 |   |
|       Proceeds      from the exercise of warrants                     |   |                                           | 40,000  |   |                      |   | -       |                |   |   | 258,750 |   |
|       Cancellation      of common stock                               |   |                                           | -       |   |                      |   | -       |                |   |   | (60,000 | ) |
|       Net      cash from financing activities                         |   |                                           | 40,000  |   |                      |   | -       |                |   |   | 2,277,321 |   |
|                                                                                                |   |                                           |    |   |                      |   |    |                |   |   |   |   |
| Cash      flows used in investing activities                                                        |   |                                           |    |   |                      |   |    |                |   |   |   |   |
|      Reclamation      deposit                                              |   |                                           | -       |   |                      |   | -       |                |   |   | (41,800 | ) |
|                                                                                                |   |                                           | -       |   |                      |   | -       |                |   |   | (41,800 | ) |
|                                                                                                |   |                                           |    |   |                      |   |    |                |   |   |   |   |
| Increase      (decrease) in cash                                                                    |   |                                           | 27,039  |   |                      |   | (23,288 | )              |   |   | 27,850 |   |
|                                                                                                |   |                                           |    |   |                      |   |    |                |   |   |   |   |
| Cash,      beginning of period                                                                      |   |                                           | 811     |   |                      |   | 75,128  |                |   |   | - |   |
| Cash,      end of period                                                                            |   | $                                              | 27,850  |   |                      | $      | 51,840  |                |   | $ | 27,850 |   |
|                                                                                                |   |                                           |    |   |                      |   |    |                |   |   |   |   |
| SCHEDULE      OF NON-CASH ACTIVITIES                                                                |   |                                           |    |   |                      |   |    |                |   |   |   |   |
|       Settlement      of accounts payable by contribution             |   |                                           |    |   |                      |   |    |                |   |   |   |   |
|          from      a shareholder                       |   | $                                              | -       |   |                      | $      | -       |                |   | $ | 4,543 |   |
|                                                                                                |   |                                           |    |   |                      |   |    |                |   |   |   |   |
|       Web-site      development costs related to non –          |   |                                           |    |   |                      |   |    |                |   |   |   |   |
|          Employee      stock-based compensation        |   | $                                              | -       |   |                      | $      | -       |                |   | $ | 18,000 |   |

----

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|                           |   |        |    |   | Weighted |   |
|--------------------------------|--------|-------------|---------|--------|----------|--------|
|                           |   |        |    |   | Average  |   |
|                           |   | Options     |    |   | Exercise |   |
|                           |   | Outstanding |    |   | Price    |   |
| Balance,      January 31, 2010 |   |        | 750,000 |   |     | $      | 1.07 |   |
|                           |   |        |    |   |     |   |   |   |
| Options      granted           |   |        | -       |   |     |   | - |   |
| Options      exercised         |   |        | -       |   |     |   | - |   |
|                           |   |        |    |   |     |   |   |   |
| Balance,      April 30, 2010   |   |        | 750,000 |   |     | $      | 1.07 |   |

|          |   | Weighted       |   |           |   |                    |   |           |   |                                      |
|---------------|--------|----------------|--------|----------------|--------|-------------------------|--------|----------------|--------|-------------------------------------------|
|          |   | Average        |   |           |   |                    |   |           |   |                                      |
|          |   |           |   | Remaining      |   | Weighted                |   | Number      of |   | Weighted                                  |
| Range      of |   | Number      of |   | Contractual    |   | Average                 |   | Options        |   | Average                                   |
| Exercise      |   | Options        |   | Life           |   | Exercise                |   | Currently      |   | Exercise                                  |
| Prices        |   | Outstanding    |   | in      Years) |   | Price                   |   | Exercisable    |   | Price                                     |
|          |   |           |   |           |   |                    |   |           |   |                                      |
| $0.06         |   |  50,000   |   | 3.92           |   | $   0.06 |   |  50,000   |   | $      0.06 |
| $1.00         |   | 200,000        |   | 6.17           |   | $   1.00 |   | 200,000        |   | $      1.00 |
| $1.20         |   | 500,000        |   | 5.50           |   | $   1.20 |   | 500,000        |   | $      1.20 |
|          |   |           |   |           |   |                    |   |           |   |                                      |
|          |   | 750,000        |   | 5.57           |   | $   1.07 |   | 750,000        |   | $      1.07 |

----

|                           |   | Warrants      Outstanding |      |
|--------------------------------|--------|---------------------------|-----------|
| Balance,      January 31, 2010 |   |                      | 1,523,300 |   |
| Warrants      granted          |   |                      | -         |   |
| Warrants      exercised        |   |                      | (54,054   | ) |
| Balance,      April 30, 2010   |   |                      | 1,469,246 |   |

|  Quantity | ExercisePrice | ExercisePeriod                            |
|----------------|---------------|-------------------------------------------|
|           |          |                                      |
| 403,600        | $      1.50   | November      4, 2005 to November 4, 2010 |
| 403,600        | $      2.00   | May      4, 2006 to May 4, 2011           |
| 403,600        | $      2.50   | November      4, 2006 to November 4, 2011 |
| 258,446        | $      0.74   | February      6, 2008 to February 6, 2013 |
| 1,469,246      |          |                                      |

----

| ·   | $380,000      in connection with mineral claim payments and $1,840,000 in exploration      expenditures of the Company’sproperties; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | $43,000      for operating expenses, including working capital and general, legal,      accounting and administrative expenses associated with reporting      requirements under the Securities Exchange Act of  1934. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

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| Exhibit No. | Description                                 | Where Found          |
|-------------|---------------------------------------------|----------------------|
| 31.1        | Rule      13a-14(a)/15d14(a) Certifications | Attached      Hereto |
| 32.1        | Section      1350 Certifications            | Attached      Hereto |

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