Beaufield Resources Inc.

Beaufield Resources Inc.

June 03, 2013 10:52 ET

Beaufield Announces Appointment of New CEO and President

MONTREAL, QUÉBEC--(Marketwired - June 3, 2013) - Beaufield Resources Inc. ("Beaufield" or the "Company")(TSX VENTURE:BFD) is pleased to announce that Jens E. Hansen will be appointed President & CEO of the Company effective June 1, 2013. The Company appointed Mr. Hansen as interim President & CEO in March 2013 (see press release of March 18, 2013).

The Company entered into a formal consulting agreement (the "Geotest Agreement") with Geotest Corporation ("Geotest") pursuant to which Geotest has agreed to provide certain management, administrative and consulting services and office premises to the Company. Geotest provided management and consulting services and office premises to the Company on a month to month basis under a similar contract from January 2009 until October 2012.

As a condition of the Geotest Agreement, Jens E. Hansen, the President, a director and principal shareholder of Geotest has agreed to devote approximately 50% of his business time, energy and ability to the business and affairs of the Company and has agreed to act as the President and CEO of the Company during the term of the Geotest Agreement.

The Geotest Agreement, which is being filed today on Sedar, has been approved by the independent directors of the Company.

About Beaufield:

Beaufield is a mineral exploration company with its exploration activity focused in Quebec. Beaufield is well positioned to advance its portfolio of exploration properties and identify other potential opportunities in the mineral exploration or development stage.

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 Company cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Company 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.

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