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

De Beira Goldfields Inc.

December 07, 2006 04:44 ET

De Beira Goldfields Inc.: Significant Mineralisation in Minanca Tails

PERTH, WESTERN AUSTRALIA--(CCNMatthews - Dec. 7, 2006) - De Beira Goldfields Inc. ("DE BEIRA" or the "Company") (OTCBB:DBGF)(FWB:D1Q)(WKN:A0JDS0) is pleased to announce the results of a survey and grade estimate of the Minanca tails dam, located at the Minanca processing plant in the Portobello - Zaruma mining district in Ecuador.

The volume estimate result is 183,000 Metric tons of mill tailings(i). Based on the weighted average assay results, an inferred resource of 38,000 Gold equivalent ounces at an average grade of 6.45 g/t Au has been calculated for the tails dam.

Weighted average of results for the tailings is listed below, along with the metal prices used to make the resource calculation:

Gold: 1.41 g/t, Silver 35.0 g/t, Copper: 0.48%, Zinc: 0.94%, Lead: 0.39%; and

Gold US$600 p/o, Silver US$13 p/o, Copper US$7,000 p/t, Zinc US$4,500 p/t, Lead US$1,700 p/t

The Company commissioned Geologia, Mineria y Medio Ambiente to conduct a series of surveys over the Minanca project, which included a volume estimation of the tails dam. Concurrently the tails dam was sampled on a 20m by 20m grid at a depth of 2m. The sample density is considered to be sufficient to class the tails dam as an inferred resource.

Results indicate a significant amount of gold, silver and base metals remains within the tails. The Company will now consider a range of options to evaluate how best to unlock the value of metals in the tails dam.

(i) Mill tailings are the end product of mill production and these are pumped into ponds or tails dams, as sand sized particles.

DE BEIRA GOLDFIELDS INC

Reg Gillard, President

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)