Beaufield Resources Inc

Canadian Resource Exploration Company

Beaufield Announces Closing of $3 Million Financing

Beaufield Resources Inc. is pleased to announce that it has closed today the previously announced bought deal private placement financing with Desjardins Securities Inc. (The “Agent”), consisting of 5,455,000 flow-through common shares (the “Flow-Through Common Shares”) at a price of $0.55 per Flow-Through Common Share, for gross proceeds of $3,000,250. The Flow-Through Common Shares are subject to a hold period and may not be traded until February 21, 2011 except as permitted by applicable securities legislation and the rules of the TSX Venture Exchange.

The Agent received a cash commission equal to 6% of the gross proceeds raised and Compensation Options equal to 6% of the number of Flow-Through Common Shares sold. A total of 327,300 Compensation Options were issued, each of which is exercisable to purchase one common share of the Company at $0.55 per share until April 20, 2012 and are subject to the same hold period as the Flow-Through Common Shares.

The proceeds from the offering will be used to fund Beaufield’s exploration programs within Canada, including exploration at the Tortigny base metal project and the Schefferville iron project in Quebec.

The Flow-Through Common Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

About Beaufield Resources Inc.

Beaufield Resources Inc has diversified properties with exposure to gold, base metals, and uranium, 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.

For more information please contact:

Beaufield Resources Inc.

Tel: 613.721.2919 / Fax: 613.680.1091

E-mail: [email protected]


Hamza Thindal Capital Corporation

Investor Relations

Tel. 1.888.371.9098 / Fax 1.888.371.9099

E.mail: [email protected]

This release contains forward-looking statements that are based on beliefs of its management as well as assumptions made by and information currently available to management of the Company. When used in this release, the words “estimate”, “believe”, “anticipate”, “intend”, “expect”, “plan”, “may”, “should”, “will”, and the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in this release. The statements contained in this release speak only as of the date hereof. The Company undertakes to inform shareholders and to update forward-looking statements if circumstances or management’s estimates or opinions should change.

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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