Beaufield Resources Inc

Canadian Resource Exploration Company

Beaufield’s Net Cash Assets are $7,702,395

OTTAWA, ONTARIO–(April 6, 2009) – Beaufield Resources Inc. (TSX VENTURE:BFD) is pleased to report that during the quarter ending February 28, 2009 total income from interest, project management fees and gain on disposal of listed shares was $127,252. In addition, the investment in listed shares held at quarter end generated an unrealized fair value appreciation of $138,740. Administrative expenses were $119,290. It was decided to write-off several currently inactive exploration properties for a total amount of $401,533. Net loss for this quarter was 254,831.

For the six-month period ended February 28, 2009, Beaufield invested $652,542 in exploration expenditures of which $387,103 was spent on the Troilus joint venture and recharged to Melkior Resources Inc.

At February 28, 2009, Beaufield’s current assets and current liabilities were as follows:

Cash and cash equivalents (Cash and treasury bills)               $6,760,075
Sales tax recoverable                                                	              10,791
Due from a partner                                                                  115,727
Exploration tax credits receivable                                               655,639
Prepaid expenses                                                                       9,491
Listed shares held for trading at market value (cost $90,260)       229,000
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Total: current assets                                                            $7,780,723
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Total current liabilities                                                              $78,328
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The budget for 2009 exploration is $920,000. This is primarily planned for Beaufield’s three 100% owned gold properties namely Urban, Opinaca and Hemlo. Beaufield has held preliminary discussions with parties interested in participating with Beaufield on some of its gold properties on an option basis.

Beaufield is well positioned financially to undertake exploration and to study new opportunities. Management emphasizes prudent management of its cash resources. With gold being the primary focus, management has decided to replace approximately 15% of its treasury bill investments with an investment in one ounce gold maple leaf coins which are legal tender. One million Canadian dollars has been invested in the purchase of 839 maple leaf coins. Management is of the opinion that an asset allocation based on Treasury Bills and gold coins will be most effective in enhancing the company’s ability to undertake continuing mineral exploration and development. Beaufield will consider adding to the gold position for investment purposes.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company’ periodic reports including the annual report or in the filings made by the Company from time to time with securities regulations. The Company undertake no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated event.

 

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.

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