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Beaufield Resources Inc.: Beaufield's Net Cash Assets are $7,702,395

^{Published on 2009-04-06 11:25:37, Last Modified on 2009-04-06 11:26:29 - Market Wire}
 

OTTAWA, ONTARIO--(Marketwire - April 6, 2009) - Beaufield Resources Inc. (TSX VENTURE:BFD) is pleased to report that during the quarter ending February 28, 2009 total income from interest, project management fees and gain on disposal of listed shares was $127,252. In addition, the investment in listed shares held at quarter end generated an unrealized fair value appreciation of $138,740. Administrative expenses were $119,290. It was decided to write-off several currently inactive exploration properties for a total amount of $401,533. Net loss for this quarter was 254,831.

For the six-month period ended February 28, 2009, Beaufield invested $652,542 in exploration expenditures of which $387,103 was spent on the Troilus joint venture and recharged to Melkior Resources Inc.

At February 28, 2009, Beaufield's current assets and current liabilities were as follows:

Cash and cash equivalents (Cash and treasury bills) $6,760,075
Sales tax recoverable 10,791
Due from a partner 115,727
Exploration tax credits receivable 655,639
Prepaid expenses 9,491
Listed shares held for trading at market value (cost $90,260) 229,000
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Total: current assets $7,780,723
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Total current liabilities $78,328
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.