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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE U.S./
TORONTO, April 20, 2011 /CNW/ - Starfield Resources Inc. (TSX: SRU) (OTCBB: SRFDF) ("Starfield", "the Company") is pleased to
announce it has engaged M Partners Inc. as lead agent in connection
with an offering (the "Offering") of up to $3,000,000.
The Offering will consist of up to $3,000,000 of flow-through units
("Flow-Through Units") at a price of $0.075 per Flow-Through Unit. Each
Flow-Through Unit consists of one flow-through common share and one
half of one common share purchase warrant (the "Warrant"). Each whole
Warrant will entitle the holder to purchase one additional common share
of Starfield at a price of $0.11 for 24 months from the closing date.
All securities issued under the Offering will be subject to a hold
period of four months plus one day extending from the closing date of
the Offering.
The Company intends to use the gross proceeds from the issuance of
Flow-Through Units for exploration that constitutes Canadian
exploration expenses for Canadian income tax purposes.
About Starfield
Starfield Resources Inc. is an advanced exploration and development
stage company. The Company's primary asset is its Ferguson Lake
nickel-copper-cobalt-platinum-palladium property in Nunavut, Canada.
Additional assets include a nickel-copper-cobalt-PGE-chrome project in
the Stillwater district of Montana with historic copper, nickel,
chromite resources (non NI 43-101 and not to be relied on); the
Moonlight copper project in California; and two gold properties
currently leased/joint ventured in Nevada.
Starfield has also funded the development of a novel, environmentally
friendly and energy efficient hydrometallurgical flow sheet to recover
metals from massive sulphides.
Forward-Looking Statements
This news release may contain certain information that constitutes
forward-looking statements. Forward-looking statements are frequently
characterized by words such as "plan," "expect," "project," "intend,"
"believe," "anticipate" and other similar words, or statements that
certain events or conditions "may" or "will" occur. Forward-looking
statements are based on the opinions and estimates of management at the
date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. These factors include the inherent risks
involved in the exploration and development of mineral properties, the
uncertainties involved in interpreting drilling results and other
geological data, fluctuating metal prices and other factors described
above and in the Company's most recent annual information form under
the heading "Risk Factors" which has been filed electronically by means
of the Canadian Securities Administrators' website located at
or opinions should change. The reader is cautioned not to place undue
reliance on forward-looking statements.
http://www.starfieldres.com/">www.starfieldres.com
For further information:
Andre J. Douchane President and CEO 416-860-0400 ext. 222 adouchane@starfieldres.com Greg Van Staveren Chief Financial Officer 416-860-0400 ext. 223 gvanstaveren@starfieldres.com Investor Relations 416-860-0400 info@starfieldres.com
