Attention Business/Financial Editors:
Starfield Reports Results for Fourth Quarter and Fiscal 2008
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE U.S./
TORONTO, April 25 /CNW/ - Starfield Resources Inc. (TSX: SRU/OTCBB:
SRFDF) today announced that its financial results for its fiscal year ended
February 29, 2008 were filed on SEDAR.
For the three months ended February 29, 2008, Starfield incurred costs of
exploration and related equipment totaling $2.5 million, and $13.1 million for
the year ended February 29, 2008. Excluding the cost of settlement and
termination of previously signed investor relations contracts, administrative
outlays amounted to $1.5 million for the quarter and $4.1 million for the year
ended February 29, 2008.
During the three months ended February 29, 2008, the Company received and
released assay lab results from its fall 2007 19-hole drill program. On
March�20, 2008, the Company announced positive economics from a preliminary
assessment of its 100%-owned Ferguson Lake project in Nunavut.
The Company had cash reserves of $10.9 million and working capital of
$10.8 million at year end, compared to $506,000 and negative $1.9 million in
fiscal 2007 respectively.
The annual financial statements, management's discussion and analysis,
and additional information for the year are available on the Company's website
and on SEDAR.
About Starfield
Starfield Resources Inc. is an advanced exploration and emerging early
stage development company focused on its Ferguson Lake
Nickel-Copper-Platinum-palladium-Cobalt property in Nunavut, Canada. The
property is emerging as Nunavut's largest ongoing base and precious metal
project. Starfield has funded the development of a novel, environmentally
friendly and energy-efficient hydrometallurgical flowsheet to recover metals
from its Ferguson Lake massive sulphides.
www.starfieldres.com
%SEDAR: 00009374E
For further information: Connie Anderson, Investor Relations, Starfield
Resources Inc., (416) 860-0400 ext. 228, canderson@starfieldres.com; Andr�
J. Douchane, President and CEO, Starfield Resources Inc., (416) 860-0400 ext.
222, adouchane@starfieldres.com; Greg Van Staveren, Chief Financial
Officer, Starfield Resources Inc., (416) 860-0400,
gvanstaveren@starfieldres.com
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Starfield Resources Inc
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EXPLORATION STAGE |
CODE : SRU.TO |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Starfield Res. is a cobalt and copper exploration company based in Canada. Starfield Res. holds various exploration projects in Canada. Its main exploration properties are FERGUSON LAKE, DOME HILL, MOONLIGHT PROPERTY, BLUSTRY MOUNTAIN, FERGUSON (STAR/WYN) and STILLWATER in Canada. Starfield Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 3.6 millions as of today (US$ 3.5 millions, € 2.7 millions). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.93, and its lowest recent point on March 07, 2013 at CA$ 0.01. Starfield Res. has 718 801 000 shares outstanding. |