Beaufield Resources Inc. (“Beaufield” or the “Company”) is pleased to report that drilling on its 100% owned, centrally located, Schefferville, Quebec, iron property began on June 11, 2012, using two drills contracted from Chibougamau Diamond Drilling. The operation is fully staffed and helicopter supported. The program will evaluate the DSO (Direct Shipping Ore) and the Taconite potential. Historical work by the Iron Ore Company of Canada and recent work by Beaufield has indicated the presence of such mineralization. The property is surrounded by the holdings of New Millennium Iron Corp., Labrador Iron Mines, Tata Steel and Century Iron Mines. The reader is referred to Beaufield’s website for location and to a recently completed technical report by SRK Consulting Canada Inc. (“SRK”) titled: “Independent Technical Report on the Schefferville Iron Exploration Project, Quebec.” that can be accessed at www.sedar.com.
The drilling will focus on recommendations in this technical report. The property is considered an early stage iron exploration project. In their report SRK states “The geology of the Schefferville project is favourable for both low-grade, high volume taconite and high-grade, low volume DSO iron deposit types…” and “Three known DSO occurrences lying at the border of the Beaufield claims may extend significantly into the Schefferville project area. These are the Squaw Woolett, Lac Anabel and Lac Partington No 2 occurrences.”
Drilling will start at Beaufield’s property on the Squaw Woolett extension. A historical trench sampled by Beaufield located some 2 kilometres southeast of Squaw Wollett returned an iron oxide content of 91.73% Fe2 O3 from a grab sample. Elsewhere on the property numerous sites with iron oxide content greater than 60% occur in the vicinity of gravity and magnetic anomalies.
The program is planned for in the order of 6,000 metres and is expected to last approximately 3 months in the field. The Squaw Wollette site is located 8 kilometres from Schefferville. The Tata and Labrador Iron DSO plants are within 5 kilometres of Beaufield’s boundary.
This news release has been prepared by Jens E. Hansen, P.Eng., President and CEO of Beaufield, the Qualified Person under section 43-101.