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TORONTO, Jan. 12, 2011 /CNW/ - Starfield Resources Inc. (TSX: SRU / OTCBB: SRFDF) today announced that its financial results
for the third quarter ended November 30, 2010 have been filed on SEDAR.
For the three and nine month periods ended November 30, 2010, Starfield
incurred costs for exploration and related equipment totalling $1.1
million and $3.4 million, respectively. The exploration expenditures
were primarily directed toward continued advancement of the Company's
Ferguson Lake project in Nunavut, including its grassroots diamond and
gold exploration programs on the surrounding area, and on the continued
advancement of its Hydromet process. Administrative expenditures
amounted to $0.4 million and $1.3 million for the three and nine month
At November 30, 2010, the Company had approximately $1.1 million of cash
As previously announced, on December 7, 2010, the Company successfully
completed a private placement financing for total proceeds of $5.1
The quarterly unaudited financial statements, management's discussion
and analysis and additional information are available on the Company's
website and on SEDAR.
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 43-101 and not to be relied on); the Moonlight
copper project in California with significant NI 43-101 copper
resources; and two gold properties currently leased/joint ventured in
Starfield has also funded the development of a novel, environmentally
friendly and energy efficient hydrometallurgical flow sheet to recover
metals from massive sulphides.
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
www.sedar.com. The Company disclaims any obligation to update or revise
any forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to
place undue reliance on forward-looking statements.
SOURCE Starfield Resources Inc.
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