Beaufield Resources Inc.

Beaufield Resources Inc.

September 22, 2011 16:25 ET

Beaufield Announces Closing of $360,000 Financing

OTTAWA, ONTARIO--(Marketwire - Sept. 22, 2011) -


Beaufield Resources Inc. (TSX VENTURE:BFD) (the "Company") is pleased to announce that it has closed today the previously announced non-brokered private placement financing (News release of September 2, 2011), consisting of 1,000,000 flow-through common shares (the "Flow-Through Common Shares") at a price of $0.36 per Flow-Through Common Share, for gross proceeds of $360,000. The Flow-Through Common Shares are subject to a hold period and may not be traded until January 23, 2012 except as permitted by applicable securities legislation and the rules of the TSX Venture Exchange.

Together with the brokered private placement financing closed on September 20, 2011, on the same terms and conditions, the Company has raised aggregate gross proceeds of $2,079,720 consisting of a total of 5,777,000 Flow-Through Common Shares. As part of the private placement an officer of the Company subscribed for 100,000 shares.

Jens Hansen President and CEO of the Company stated "Beaufield is very pleased with the current financings which demonstrate investors' confidence in Beaufield's exploration personnel and projects. The funds permit an acceleration of the three key projects: Schefferville iron, Troilus zinc-silver and Opinaca gold".

The proceeds from the offering will be used to fund Beaufield's exploration programs within Canada, including exploration at the Tortigny base metal project, the Schefferville iron project and Opinaca gold project in Quebec.

The Flow-Through Common Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

About Beaufield Resources Inc.

Beaufield Resources Inc has diversified properties with exposure to gold, base metals, and uranium, all located in the provinces of Ontario and Quebec. The company is focused on building shareholder wealth by acquiring, exploring and developing high-quality exploration prospects resulting in discovery. Beaufield has approximately $9.5 million in working capital, including proceeds of this private placement financing, no debt and a promising portfolio of gold and base metal properties.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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