Beaufield Resources Inc. announces that due to the current financial and market conditions for resource companies its Board of Directors has decided to terminate the Balmat zinc mine due diligence process and has notified Hudbay accordingly (See press releases of February 19 and 27, 2013).
As a consequence of Beaufield’s decision to resume an exploration, development focus, the Company terminated its President & CEO, mining engineer, Kevin Weston’s contract and Mr. Weston has resigned as Director of the Company. The board of directors thanks Mr Weston for his dedication and contribution.
Beaufield has a 2013 exploration budget of $2 million to pursue advancement of its key projects, Opinaca , Tortigny and Schefferville. The board of directors has nominated Jens E Hansen as interim President and CEO.