Stocks & Investing
Wed, October 12, 2011Tue, October 11, 2011Mon, October 10, 2011Resignation of Director and Corporate Update
Published in Stocks and Investing on Tuesday, October 11th 2011 at 11:43 GMT by Market Wire
October 11, 2011 14:30 ET
Beaufield Resources: Resignation of Director and Corporate Update
OTTAWA, ONTARIO--(Marketwire - Oct. 11, 2011) -Beaufield Resources Inc. (TSX VENTURE:BFD) has received notification from Mr. Peter G. White that for personal reasons he is resigning from Beaufield's Board of Directors effective October 11, 2011. Jens E. Hansen, P.Eng., President and CEO of Beaufield stated "We wish to thank Peter White for his significant contribution to Beaufield during his all too short period as Director".
Beaufield is in the midst of one of the most active exploration seasons in its history. The main projects are listed below:
Schefferville - Iron - 100% owned. An engineering firm has been engaged to prepare a 43-101 technical report. Assays from the summer exploration program are awaited. The report will form the basis for planning a 2012 program which is expected to include drilling.
Troilus - Copper, Zinc - Silver - 100% owned. A 43-101 report is underway for the Tortigny deposit. Completion is anticipated by year end. Beaufield's geological crews are presently on site explorating other base metal targets in the vicinity of Tortigny. Drilling is scheduled to begin early November.
Opinaca - Gold - 100% owned. Goldcorp is actively advancing toward production on its Eleonore mine which shares a long common boundary and common geology with Beaufield's Opinaca property. Prospecting, geology and geophysics have defined drill targets on the Beaufield property. Beaufield's geologists are evaluating the possibility of drilling this year.
Joint Ventures - Three of Beaufield's gold properties (Hemlo, Urban, Casa Berardi) are under option to earn 50% to Junior explorers. Results of their work will be announced by the Joint Venturers.
This press release was prepared by Jens E. Hansen P. Eng, President and CEO of Beaufield, the Qualified Person under section 43-101.
About Beaufield Resources Inc.
Beaufield Resources Inc. has diversified properties with exposure to gold and base metals, all located in the provinces of Ontario and Quebec. The company is focused on building shareholder wealth by acquiring, exploring and developing high-quality exploration prospects resulting in discovery. Beaufield has approximately $9 million in working capital, no debt and a promising portfolio of gold and base metal properties.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results and timing of exploration activities, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Depending on exploration results, the Company may at any point modify the suggested work program for 2011-2012.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
