De Beira Goldfields Inc.
OTC Bulletin Board : DBGF
FRANKFURT : D1Q

De Beira Goldfields Inc.

October 17, 2006 07:38 ET

De Beira Announces Sample Results for the Minanca Mining Project

PERTH, WESTERN AUSTRALIA--(CCNMatthews - Oct. 17, 2006) - DE BEIRA GOLDFIELDS INC. ("DE BEIRA" or the "Company")(OTCBB:DBGF)(FWB:D1Q)(WKN:A0JDS0) is pleased to announce high grade results from 5m composite samples taken from the Abundancia vein and the Cantabra vein at the Minanca Mining Project in the El Oro province of Ecuador.

De Beira announces results from 5m composites taken along the 2nd level at the Minanca mine. The results further highlight the potential of the deposit.



---------------------------------------------------------
Au ppm Ag ppm Cu ppm Pb ppm Zn ppm
---------------------------------------------------------
greater greater greater
than than than
10.0 100 10,000 896 3,130
---------------------------------------------------------
greater
than
10.0 58.2 7,960 1,130 7,150
---------------------------------------------------------
greater
than
10.0 27.2 135 395 507
---------------------------------------------------------
greater
than
9.28 80.8 2,300 1,650 10,000
---------------------------------------------------------
greater greater
than than
6.62 100 6,890 5,060 10,000
---------------------------------------------------------
4.91 32.2 4,870 2,170 3,510
---------------------------------------------------------
greater
than
4.39 47.5 10,000 799 2,050
---------------------------------------------------------
3.9 93.9 7,310 3,260 6,840
---------------------------------------------------------
greater
than
3.34 45.1 4,960 3,160 10,000
---------------------------------------------------------
3.23 30.1 2,380 2,130 9,830
---------------------------------------------------------
3.02 24.5 714 585 923
---------------------------------------------------------
2.97 12.8 942 573 3,640
---------------------------------------------------------
greater
than
2.9 33.8 10,000 191 2,110
---------------------------------------------------------
2.81 49.3 4,030 303 4,270
---------------------------------------------------------
2.7 29.3 2,070 1,710 8,250
---------------------------------------------------------
2.6 59.3 6,766 1,010 9,230
---------------------------------------------------------
2.53 17.2 717 957 2,470
---------------------------------------------------------
1.85 1.7 75 291 2,570
---------------------------------------------------------
greater
than
1.8 75.7 1,495 4,700 10,000
---------------------------------------------------------


These results indicate that the Minanca project has the potential to be a significant polymetallic deposit, whereas historically the district was mined only for gold and silver. De Beira is currently drilling in an effort to delineate a large gold, silver and base metals resource.

DE BEIRA GOLDFIELDS INC.

Reg Gillard, Director

About DE BEIRA GOLDFIELDS INC.

DE BEIRA is a Nevada based mineral exploration company. The Company has recently initiated a new program to evaluate undervalued assets for potential addition to its mineral claim portfolio.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of those terms and other comparable terminology.

These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire properties on commercially viable terms; challenges to our title to our properties; operating or technical difficulties in connection with our exploration and development activities; currency fluctuations; fluctuating market prices for precious and base medals; the speculative nature of precious and base medals exploration and development activities; environmental risks and hazards; governmental regulations; and conduct of operations in politically and economically less developed areas of the world.

Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to our most recent annual report on Form 10KSB and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov.

We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security.

Contact Information

  • De Beira Goldfields Inc.
    Reg Gillard
    Director
    +61 (08) 9240 6717 / 9240 2836
    +61 (08) 9240 2406 (FAX)
    Website: www.debeira.com