Beaufield Resources Inc.
TSX VENTURE : BFD

Beaufield Resources Inc.

October 11, 2016 11:10 ET

Beaufield Drilling Extends Panache Gold Mineralization at Urban

MONTREAL, QUEBEC--(Marketwired - Oct. 11, 2016) - Beaufield Resources Inc. ("Beaufield") (TSX VENTURE:BFD) is pleased to announce results from its exploration drilling on its 100% owned Urban property, Quebec. The program consisted of 20 exploration holes totaling 5,629 metres, 6 of which were previously reported in its August 5th, 2016 news release.

On the Panache-Macho block, 9 exploration holes concentrated on newly defined, near surface geophysical targets. A description of the gold mineralization intersected in each hole is provided below and a map locating the holes is provided on the adjoining map: http://media3.marketwire.com/docs/Panache%202016%20holes.pdf.

Panache Gold Zone Discovery

Holes BU-16-10 and BU-16-13 targeted the previously undrilled western and eastern extensions of the Panache gold zone described in Beaufield's March 14th, 2016 news release. Both holes intersected gold mineralization at shallow depths, extending the Panache gold zone to over 1,300 metres in length. The Panache Gold zone remains open at depth and strike.

Hole From (m) To (m) Gold (g/t) Width (m)*
BU-16-10 47.0 66.0 0.76 19.0
including 57.0 64.0 1.51 7.0

Hole BU-16-13 was collared to the east of the Panache area, 250 metres west of the Osisko-Windfall boundary and intersected three distinct gold zones, with the highest grade in the deeper intersection (133 m).

Hole From (m) To (m) Gold (g/t) Width (m)*
BU-16-13 32.0 34.0 1.31 2.0
BU-16-13 93.0 101.0 0.61 8.0
including 94.0 97.0 1.23 3.0
BU-16-13 131.0 134.0 3.39 3.0
including 133.0 134.0 9.36 1.0

Based on high definition airborne magnetic data, this gold zone is located along the same trend as of Osisko Mining's newly discovered Fox Zone (3.22 g/t Au over 11.6 m) announced on August 29th, 2016 and located approximately 1,600 metres to the east. The area between the Beaufield and Osisko remains to be drilled.

Hole BU-16-12 targeted a gap in historical drilling within the Panache Gold zone. This hole intersected a 16 metre wide gold zone at a shallow depth.

Hole From (m) To (m) Gold (g/t) Width (m)*
BU-16-12 131 147 0.75 16.00
including 133 143 1.05 10.00

Macho-Panache property exploration drilling

Holes BU-16-06 to BU-16-09, BU-16-11 and BU-16-14 tested induced polarization targets located within the Macho-Panache block of claims. Best results are listed in the table below, and indicates that anomalous gold is widespread in the area.

Hole From (m) To (m) Gold (g/t) Width (m)*
BU-16-06 139 140 1.23 1.00
BU-16-07 34 35 0.25 1.00
BU-16-07 108.9 110 0.44 1.10
BU-16-07 182 183 1.74 1.00
BU-16-08 25.5 31.5 0.32 6.00
BU-16-08 54.6 57.6 0.74 3.00
BU-16-08 105 106 3.53 1.00
BU-16-09 31 33 0.50 2.00
BU-16-09 131 135 0.19 4.00
BU-16-09 142 145 0.27 3.00
BU-16-11 113 117 0.45 4.00
BU-16-11 128 129 1.38 1.00
BU-16-14 No significant values

* May not represent true width (true widths cannot be determined from the information and data currently available)

Beaufield's 2016 drill program includes descriptive logging and systematic sampling of the drill core for analysis. A total 402 samples were taken from the drill core. Every sampled interval was split in half with a core splitter or cut with a diamond blade saw. Half of any sampled core was left in the core box for future reference and the remaining half was bagged and sealed and sent to a commercial laboratory. Quality control samples (duplicate, blanks and standards) were systematically inserted in the sequence. Assays are performed at ALS CHEMEX Laboratories in Val d'Or, Quebec. The processed samples were submitted to a standard Fire Assay with AA technique (Au-AA-23) and Inductively Coupled Plasma Emission Spectroscopy (ME-ICP-41) on a 30 gram sub-sample.

Rouleau Gold block

5 holes targeted geophysical anomalies on the southern portion of the Rouleau block of claims, located between Bonterra Resources holdings on Beaufield's south boundary and Osisko Mining to the north. A review of the results indicates that additional assaying of the core is required and will be completed when Beaufield resumes drilling.

4 parallel trenches have been completed over the Rouleau Gold zone, exposing mineralization at surface for the first time. Channel sampling has been completed on all four trenches, collecting over 87 metres of samples. All samples are at ALS CHEMEX Laboratories in Val d'Or awaiting assaying.

Upcoming work

Results from the drill program on the Panache gold zone and from the neighboring drill program indicate that gold grades increase with depth. A 5,000 metre drill program is being planned to follow-up on The Panache Gold zone a greater depths.

Assay results from channel sampling on recent trenching of the historic Rouleau Gold zone are awaited. These surface results will assist in the preparation of an upcoming drill program which is being prepared by Geologica Groupe Conseil of Val d'Or. A significant program of over 10,000 metres is planned.

On the Golden Retriever block (Previously known as the Kent West block), Geophysics have been completed on the western extension of Osisko's Black Dog trend where a 15,000 metre drill program is currently underway by Osisko. Beaufield is planning an initial 3,000 metre winter drill program on the Golden Retriever zone.

The Urban gold exploration camp remains very active, with several companies having significant drill programs adjacent to Beaufield boundaries. The centrally located holdings were originally acquired in 1987 based on numerous gold occurrences and good geology. The Beaufield ground is underexplored with many targets to be explored.

Qualified Person

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.

About Beaufield

Beaufield is a well financed mineral exploration company with its exploration activity focused in Quebec. Please refer to Beaufield's website to view the company's properties in Eleonore-Opinaca, Troilus and elsewhere. The Corporation is actively exploring, well financed with approximately $2 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.

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