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TORONTO, Aug. 28 /CNW/ - Starfield Resources Inc. (TSX: SRU/OTCBB: SRFDF)
today announced that pursuant to the terms of the warrant certificates (the
"Warrants") issued as part of the $15,100,000 private placement (the "Private
Placement") offering closed March 27, 2007, Starfield has elected to exercise
its right (the "Acceleration Right") to reduce the period within which the
Warrants may be exercised.
The Acceleration Right was triggered as Starfield's common shares (the
"Common Shares") traded with a closing price on the TSX of greater than
$0.375 CAD per Common Share for the 20 consecutive trading days during the
period commencing July 28, 2007 and ending August 27, 2007. At the close of
business on August 27, the Common Shares traded with a closing price on the
TSX of $1.19.
Warrantholders will be entitled to exercise the Warrants for a period of
30 days commencing August 29, 2007 and ending September 27, 2007. All Warrants
not exercised on or before September 27, 2007 will expire.
Starfield has moved its head office to Toronto and requested that
Warrantholders wishing to exercise some or all of their Warrants deliver
written notice to Starfield at 130 Adelaide Street West, Suite 2210, Toronto,
Ontario, Canada M5H 3P5 on or before September 27, 2007.
Starfield Resources Inc. is an advanced exploration and emerging early
stage development company focused on its Ferguson Lake
Palladium-Platinum-Nickel-Cobalt-Copper property in Nunavut, Canada. The
property is emerging as Nunavut's largest ongoing base and precious metal
project. Starfield has developed a novel, environmentally friendly and
energy-efficient hydrometallurgical flowsheet to recover platinum, palladium,
cobalt, nickel and copper from Ferguson Lake massive sulphides.
For further information:
For further information: André J. Douchane, President and Chief
Executive Officer, Starfield Resources Inc., (416) 860-0400 ext. 222,
email@example.com; Colin Languedoc, Senior Account Executive, Barnes
McInerney Inc., (416) 367-5000 ext. 225, firstname.lastname@example.org;