Starfire Minerals Inc. announces $2,067,350 private placement



    TSXV: SFR

    VANCOUVER, June 19 /CNW/ - Starfire Minerals Inc. (TSXV: SFR) is pleased
to announce a non-brokered private placement of up to $2,067,350 through the
sale of up to 1,666,666 non-flow-through units @ $0.30/unit; up to 4,357,141
initial flow-through units @ $0.35/unit and up to 121,000 second flow-through
units @ $0.35/unit. Of this amount, 1,428,570 initial flow-through units
($500,000) will be issued to the Mineralfields Group and 1,500,000 initial
flow-through units ($525,000) will be issued to Cordilleran 2007 Resources
Limited Partnership.
    Each non-flow-through unit will consist of one non-flow-through common
share and one-half of one two year non-flow-through warrant, with each whole
warrant being exercisable at a price of $0.50/share in the first year and
$0.75/share in the second year, subject to forced acceleration in the event
the Company's shares close at a price of $0.66/share in the first year and
$1.05/share in the second year for 20 consecutive trading days.
    Each initial flow-through unit will consist of one flow-through common
share and one-half of one two year non-flow-through warrant, with each whole
warrant being exercisable at a price of $0.50/share in the first year and
$0.75/share in the second year, subject to forced acceleration in the event
the Company's shares close at a price of $0.66/share in the first year and
$1.05/share in the second year for 20 consecutive trading days.
    Each second flow-through unit will consist of one flow-through common
share and one-half of one non-flow-through warrant, with each whole warrant
being exercisable at a price of $0.50/share for one year.
    A finder's fee of a combination of cash, shares and/or warrants will be
paid to eligible finders in relation to these financings, all in accordance
with regulatory policies.
    The flow-through proceeds received will be used for work on the Company's
exploration properties. The non-flow-through proceeds received will be used
for general working capital.
    The above financing is subject to regulatory approval.

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

    "Dan Mosher"
    ----------------------------
    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.





For further information:

For further information: STARFIRE MINERALS INC., 520 - 355 BURRARD
STREET, VANCOUVER, B.C., V6C 2G8, Telephone: (604) 669-5642, Facsimile: (604)
687-6714

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Starfire Minerals Inc.

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