An airborne FALCON Gravity Gradiometer (AGG) survey was flown in the
fall of 2010 and detected 20 high gravity anomalies associated with low
magnetic values located on ground mapped to underlain by the Sokoman Iron
formation. A ground gravity survey was completed on selected airborne
targets and demonstrated the validity of the airborne gravity
anomalies.
The AGG survey has also delineated 8 prospective SEDEX zinc targets
located within the vicinity of Leroy Lake where assays from bottom lake
sediments from a Quebec government survey returned highly anomalous values
in zinc and are comparable to some of the stream sediments that lead to
the discovery of the giant Red Dog deposit in Alaska. There is no
certainty further exploration will lead to discovery of similar
mineralization.
Beaufield's 100% owned Schefferville expansive property is situated
within the central portion of the Schefferville iron ore district and
adjacent New Millenium (NML-V) , Tata Steel Minerals , Labrador Iron Mines
(LIM-T) , Champion Minerals (CHM-T) and Century Iron (FER-V). Several of
these neighbours have announced imminent iron ore production which will
greatly improve to the existing infrastructure. The Beaufield property is
accessible by several dirt roads, linking it to the town of
Schefferville. It is located 10 kilometres northwest of Schefferville
and extends for 40 kilometres in a northeasterly direction.
This press release was prepared by Jens E. Hansen P. Eng, President of
Beaufield Resources Inc., the Qualified Person under section 43-101.
About Beaufield:
Beaufield has approximately $8 million in working capital, no debt and
a promising portfolio of gold and base metal properties all located in the
provinces of Quebec and Ontario. Beaufields 100% owned Opinaca gold
property adjoins the Goldcorp Inc. Eleanore mine which is under
development with a reported investment of 1.3 billion
dollars. Beaufield has completed drilling on its 100% owned Tortigny
zinc-copper-silver property. A 43-101 report has been
contracted. Beaufield owns 3 other gold properties being explored by
optionees.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking
statements, which address future events and conditions, which are subject
to various risks and uncertainties. Actual results could differ materially
from those anticipated in such forward-looking statements as a result of
numerous factors, some of which may be beyond the Company's control. These
factors include: results and timing of exploration activities, general
market and industry conditions and other risks disclosed in the Company's
filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions
of the Company's management on the date the statements are made. The
assumptions used in the preparation of such statements, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements. The Company 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. Depending on exploration results, the Company
may at any point modify the suggested work program in this
release.
