Starfire Minerals Inc.
TSX VENTURE : SFR

Starfire Minerals Inc.

January 28, 2008 18:59 ET

Starfire Minerals Inc.: News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 28, 2008) - Starfire Minerals Inc. (the "Company") (TSX VENTURE:SFR) wishes to advise its shareholders that a dispute has arisen with its operator Arnex Resources Ltd. (the "Operator") pursuant to which the Operator has demanded that the Company pay $548,464.94 in overage amounts on the Porphyry Pearl work program completed in 2007.

The disputed amount exceeds the 10% maximum budget overage provided for in the contract between the Operator and the Company. The budget was provided by the Operator and agreed to in writing by both the Operator and the Company prior to work commencing.

The Operator has invoked a provision in its agreement with the Company by providing the Company with notice that it will be seeking resolution of this matter via arbitration. The Company considers this dispute entirely without merit and will be defending this claim vigorously.

ON BEHALF OF THE BOARD OF DIRECTORS OF STARFIRE MINERALS INC.

Dan Mosher, President/CEO

This press release was prepared by management who takes full responsibility for its contents.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Starfire Minerals Inc.
    Dan Mosher
    President/CEO
    (604) 669-5642
    (604) 687-6714 (FAX)