TORONTO, Feb. 26, 2009 /CNW/ - Starfield Resources Inc. (TSX: SRU /
OTCBB: SRFDF) today announced a private placement offering (the "Offering") of
flow-through common shares of the Company ("Flow Through Shares") for gross
proceeds of $2,302,500.
Dundee Securities Corporation acted as the lead agent in connection with
the Offering, along with GMP Securities L.P. (the "Agents").
Starfield issued 9,210,000 Flow Through Shares at a price of $0.25 per
Flow Through Share in accordance with the terms of the Offering.
Starfield will use the proceeds from the Flow Through Shares primarily
for general exploration expenditures with the specific objective of advancing
the Y Lake massive sulphides, as well as advancing the diamond and gold
potential in the Y Lake and Grizzly Trend areas.
Starfield Resources Inc. is an advanced exploration and development stage
company focused on its Ferguson Lake nickel-copper-cobalt-platinum-palladium
property in Nunavut, Canada. The property is emerging as Nunavut's largest
ongoing base and precious metal project. Starfield has funded the development
of a novel, environmentally friendly and energy-efficient hydrometallurgical
flow sheet to recover metals from its Ferguson Lake massive sulphides. The
Company has also embarked on a diamond exploration program on its property and
recently discovered a diamond.
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
Starfield Resources Inc. investors may also participate in the Company's
online community at http://www.agoracom.com/ir/Starfield.
%SEDAR: 00009374E %CIK: 0001074795
For further information:
For further information: André J. Douchane, President and CEO, (416)
860-0400 ext. 222, firstname.lastname@example.org; Greg Van Staveren, Chief
Financial Officer, (416) 860-0400 ext. 223, email@example.com;
Connie Anderson, Investor Relations, (416) 860-0400 ext. 228,