Beaufield Resources Inc.

Beaufield Resources Inc.

November 16, 2006 09:29 ET

Beaufield Warrants Exercised

OTTAWA, ONTARIO--(CCNMatthews - Nov. 16, 2006) - Beaufield (TSX VENTURE:BFD) is very pleased to announce that 6,935,000 $0.34 cent warrants expiring November 10, 2006 have been fully subscribed. Including the funds received from the warrant exercise and exploration tax credits receivable, Beaufield currently has a cash position of $8.4 million and a working capital position of $9 million and is in an excellent position to conduct its exploration and acquisition activities to enhance shareholder value.

Beaufield is a Canadian mineral exploration company active in Ontario and Quebec. Beaufield's key properties are Opinaca gold, Troilus base metals and Hemlo gold. Funds will be used for advancing exploration on these properties and for evaluating opportunities.

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

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