Beaufield Resources Inc.

Beaufield Resources Inc.

February 27, 2015 09:00 ET

Beaufield Resources Reports Annual General Meeting Results

MONTREAL, QUEBEC--(Marketwired - Feb. 27, 2015) - Beaufield Resources Inc. ("Beaufield") (TSX VENTURE:BFD) is pleased to announce the results of voting at its Annual General Meeting of Shareholders ("AGM") held on Wednesday February 25, 2015 in Montreal, Canada.

Shareholders voted in favour of the two items put forward by management. All four of the individuals nominated for the board of directors were elected as set out below:

Votes For % Votes For Votes Withheld/Abstain % Votes Withheld
Pierre Colas 32,020,316 99.35% 684,134 0.65%
James C. Gervais 32,023,316 99.36% 681,134 0.64%
Jens E. Hansen 32,018,816 99.35% 685,634 0.65%
John MacLatchy 32,021,816 99.36% 682,634 0.64%

Shareholders also voted in favour of appointing Raymond Chabot Grant Thornton LLP, as auditors of the Corporation for the ensuing year and authorizing the directors to fix their remuneration (99.49% in favour).

A total of 32,704,450 Beaufield common shares were voted, representing 29.39% of total shares issued and outstanding as at the record date of the meeting.

The formal portion of the Annual General Meeting was followed by a technical presentation by Mathieu Stephens, Chief Geologist, P. Geo and Jens Hansen, P. Eng, President and CEO.

Beaufield is Quebec focused with five key properties:

1. Eleonore - Opinaca is sandwiched between Goldcorp's new Eleonore mine and holdings by Osisko Royalties. Beaufield is focusing on the best way to maximize the value of the key location in the new developing Eleonore gold camp.

2. Tortigny hosts a National Instrument 43-101 mineral resource estimate for its zinc-copper-silver-gold deposit. The extensive holdings cover strong airborne anomalies and mineralized occurrences. These represent exploration targets scheduled for 2015 work.

3. Urban is an area of exploration focus by Beaufield and others. The best way to maximize exploration effectiveness is being evaluated. Beaufield is currently undertaking geophysical surveys in underexplored area of the property (Refer to February 26, 2015 News Release).

4. Launay Gold is the subject of a recently commenced a National Instrument 43-101 by a Val d'Or based geological group. Approximately 40,000 metres of historical drilling have been completed. Beaufield currently holds 10% with the right to acquire 50% from Melkior Resources Inc by spending $1,250,000 (Refer to September 4, 2014 News Release).

5. Schefferville covers several zinc lake sediment anomalies which merit exploration. The property also has iron potential being located between Tata Steel Century Iron, New Millennium and Labrador Iron Mines.

Beaufield is well financed going forward with approximately $3 million in working capital. All properties have significant work surpluses and they are 100% owned with the exception of Launay.

Beaufield will be present at the March 1 to 4, 2015 Prospectors and Developers Association of Canada Convention in Toronto. (Booth 3302).

Qualified Persons

This news release has been prepared by Jens E. Hansen, Eng., CEO, President and Director, and Mathieu Stephens, P.Geo, Chief Geologist, the Qualified Persons, as defined by National Instrument 43-101.

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 Corporation is actively exploring, well financed, 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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