MONTREAL, QUEBEC--(Marketwired - Aug. 12, 2016) - Beaufield Resources Inc. ("Beaufield") (TSX VENTURE:BFD) (OTC PINK:BFDRF) is pleased to report it has acquired 139 new claims totaling 7,284 hectares in Baie James, Quebec. The claims are located along the interpreted extension of the Eleonore-Cheechoo gold corridor, approximately 40 kilometres southeast of the Sirios Cheechoo project.
The majority of the 100% owned claims were acquired by map staking and 13 of the claims where purchased from vendors for an amount of $20,000 in cash, and are subject to a net smelter return of 2%. Several gold occurrences have been identified on the property but data indicates that the property has never been drilled.
Companies actively exploring the area, include Osisko, Midland Exploration and Sirios Resources as indicated on the adjoined map: http://media3.marketwire.com/docs/eleonore%20map.pdf.
This news release has been prepared by Mathieu Stephens, P.Geo., Vice President of Exploration and Corporate Development for Beaufield, the Qualified Person, as defined by National Instrument 43-101.
Beaufield is a well financed mineral exploration company currently drilling in Urban and with its exploration activity focused in Quebec. Please refer to Beaufield's website to view the company's properties in Urban, Eleonore-Opinaca, Troilus and elsewhere. The Corporation is actively exploring, well financed with approximately $3 million in cash, has no debt and has excess work credits on its properties.
The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although Beaufield deems the expectations reflected in these forward-looking statements to be reasonable, the Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.