OTTAWA, ONTARIO–(Oct. 24, 2008) – Beaufield Resources Inc. (TSX VENTURE:BFD) has staked additional claims on its 100% owned Troilus base metal and gold properties to cover MEGATEM electromagnetic conductors and regional geochemical anomalies. Beaufield now holds 837 claims or 28,740 hectares in the Troilus area which include the Moleon and Tortigny base metal deposits. A winter 2008 drill program intersected 12.55 metres 15.0% zinc, 6.02% copper and 145.5 g/t silver (NR April 8, 2008) in a previously undrilled portion of Tortigny. A down hole geophysical program has been completed and follow-up drilling is scheduled for Winter/Spring 2009.
Beaufield has decided to divide the Troilus area claim blocks into two main groups. The one which is 100% owned by Beaufield contains the Tortigny, Moleon, Crab Lake and Inco Boulder areas and consists of 534 claims or 16,432 hectares. The other group consists mostly of newly staked claims and totals 303 claims or 12,308 hectares. These are referred to as the New groups. A map showing the location of the Troilus properties is available at the following address: http://media3.marketwire.com/docs/bria2410.pdf
To advance exploration of the New groups, Beaufield has agreed to permit Melkior Resources Inc. (MKR-TSXV) to earn a 50% interest by spending $500,000 on exploration over a three year period. Of the above amount $250,000 must be spent before June 30, 2009. Beaufield will be the operator.
Melkior has advised Beaufield that exploration will begin immediately using Melkior’s Quebec flow-thru funds and that the current program will include drilling a total of approximately 1,000 metres on up to 10 geophysical targets on the New groups.
This news release has been prepared by Jens E. Hansen, P. Eng a director and President of Beaufield Resources and a director and President of Melkior Resources. Mr. Hansen is the Qualified Person under section 43-101. The two boards have approved this transaction.
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.
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