Beaufield Resources Inc.
TSX VENTURE : BFD

Beaufield Resources Inc.

November 05, 2007 08:30 ET

Beaufield Acquires 100% of the Tortigny-Troilus Properties

OTTAWA, ONTARIO--(Marketwire - Nov. 5, 2007) - Beaufield Resources Inc. (TSX VENTURE:BFD) is pleased to announce that it has signed a letter of intent with Xstrata Canada Corporation, Xstrata Zinc Canada Division to acquire Xstrata's 50% interest in the Tortigny-Troilus property package for $700,000 in cash. In addition to the cash payment, Xstrata will also retain a 1% NSR in the property. Following the transaction, Beaufield will own 100% of the entire property, which contains the Tortigny and Moleon base metal deposits (copper-zinc-silver) and a very large property package (788 claims, 21,000 hectares) containing many other exploration targets uncovered during the Xstrata-Beaufield exploration program.

The claims are located in the Frotet Evans mineral belt which hosts Inmet's Troilus gold- copper mine. This belt is located approximately 100km north of Chibougamau and is easily accessible by an all weather road. Under the terms of the transaction, Xstrata has the right to purchase the concentrates from any eventual mining operation on the property, at commercial and competitive terms in the marketplace.

Beaufield has studied the previous drill data on the Tortigny deposit consisting of some 52 holes. A drill program of 4,000 metres is planned to define and expand the resource at Tortigny and also at Moleon. It is anticipated that drilling will commence in November 2007.

Beaufield is delighted with the above transaction as it allows the Company to consolidate its position in this promising mineral belt and to secure full ownership of two near-surface, high grade, base metal deposits in Quebec - one of the best mining jurisdictions in the world.

The TSX Venture Exchange (TSX-V) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

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