Beaufield Resources Inc.

Beaufield Resources Inc.

April 07, 2006 07:00 ET

Beaufield Increases Hemlo Holdings and Provides Opinaca Update

OTTAWA, ONTARIO--(CCNMatthews - April 7, 2006) - Beaufield Resources Inc. (TSX VENTURE:BFD) Beaufield has concluded agreements to acquire a 100% interest in two separate mining properties from 6 individual prospectors from Heron Bay and Marathon, Ontario. The two claim groups cover 20 mining claims (128 units) totaling 2048 hectares. The groups are contiguous with Beaufield's existing Hemlo Joa property which is scheduled for drilling in the coming weeks. With these acquisitions Beaufield will hold at least 10 kilometres of strike of the Hemlo horizon in an area that, due to overburden and numerous separate land owners, has seen limited recent gold exploration. The Hemlo gold mines are located 14 kilometres east of Beaufield's properties.

Subject to the necessary approvals, the six individuals will each receive a cash payment of $6,250 and 37,500 shares of Beaufield for a total of $37,500 cash and 225,000 common shares. Also included is a work commitment totaling 300,000$ to be undertaken during the first two years and a 2% NSR (Net Smelter Royalty) on each property.

The acquisitions make Beaufield a significant holder of key geology in both the Hemlo and the Opinaca areas and underline Beaufield's commitment to gold exploration in sediment-hosted environments. With the present acquisition, Beaufield will be the largest land holder in the Hemlo camp, next to the holdings of the operating mines.

The producing mines are estimated to have reserves for another five years making exploration for new gold deposits in the area a very high priority.


Beaufield has completed drilling of 9 holes on its Opinaca property. Of these, 7 holes were drilled on gold targets in the sedimentary units (greywackes and conglomerates) and two holes to test other environments (mafic volcanics and granodiorites). A total of 2394 metres of drilling was completed. The core is being split and analyzed using a 41 element ICP package. A portion of the core was split and logged on site at Opinaca and the remainder is being transported to Val d'Or ahead of spring break up (thaw) for splitting, logging and analysis. Completion of the procedure, including assays, is anticipated for the first week of May.

This news release has been prepared by Jens Hansen P. Eng president of Beaufield and a qualified person under 43-101.

Signed: "Jens E. Hansen, P. Eng", President

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

Contact Information

  • Beaufield Consolidated Resources Inc.
    Louis Morin
    Manager, Investor Relations
    (514) 591-3988
    Beaufield Consolidated Resources Inc.
    Jens E. Hansen
    (613) 721-2919