ccnm
OTTAWA, ONTARIO--(Marketwire - March 1, 2011) - Beaufield Resources Inc. (TSX VENTURE:BFD) is pleased to announce that Actus Minerals Corp. (TSX VENTURE:AAC) has received Exchange acceptance to its option agreement with Beaufield. Under the finalized terms of the agreement, for Actus to acquire a 50% interest of the Casa Berardi project, it must issue an aggregate of 1,250,000 of its common shares to Beaufield and expend $650,000 of exploration work over a three year period. The Company has issued 300,000 common shares to Beaufield pursuant to the terms of the agreement.
The claims are subject to a two percent (2.0%) NSR ("Net Smelter Return") upon production, payable to Beaufield. Half of said NSR can be bought back by Actus for a payment of $1,000,000 at any time.
The property, known as Casa Berardi, consisting of two claim blocks of 141 claims covering an area of 7,918 hectares is located in the township of the same name, in the province of Quebec. The property adjoins the northern boundary of the Aurizon Mines Ltd property at Casa Berardi. Existing data in the area will be studied and an appropriate exploration program in gold will be planned.
For a property location map please refer to Beaufield's website:
FORWARD LOOKING STATEMENTS:
This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. Forward looking statements in this press release may be identified by the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", and the negative thereof or other variations thereon or comparable terminology. 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 and available financing, the Company or its partner may at any point modify the suggested work program indicated in this release.
FOR FURTHER INFORMATION PLEASE CONTACT: 613-721-2919
Beaufield Resources Inc.
Fax: 613-680-1091
beaufield@rogers.com
http://www.beaufield.com/">www.beaufield.com
OR1-888-371-9098
Hamza Thindal Capital Corporation
Fax 1-888-371-9099
info@htcapitalcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
