Starfire Minerals Inc. ('SFR') - TSX-V Accepts for filing a Property-Asset or Share Disposition Agreement
VANCOUVER, May 3 /CNW/ --
VANCOUVER, May 3 /CNW/ - Starfire Minerals Inc. ('Starfire') announces
that it has received confirmation from TSX-Venture Exchange and the
confirmation is as follows:
'This is to confirm that TSX Venture Exchange has accepted for filing a
disposition agreement (the 'Agreement') dated April 27, 2011 made
between Starfire Minerals Inc. (the 'Company') and Liaoning Eden
Venture Investments Ltd. ('Liaoning') whereby the Company will enter
into a joint venture agreement with Liaoning for the purpose of
developing the Company's Porphyry Pearl Property (the 'Property')
located in the Omineca Mining District, British Columbia. Pursuant to
the Agreement, the Company will incorporate a new company ('Newco') and
dispose of 100% of its interest in the Property to Newco. The Company
will maintain an initial 100% interest in Newco, which can be reduced
to 49% if Liaoning funds an aggregate $9,000,000 in exploration
expenditures over a 3 year period. Liaoning will earn a 17% interest in
Newco for each $3,000,000 funded for an aggregate 51% interest in
Newco.'
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. NEITHER THE TSX VENTURE EXCHANGE NOR
ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward looking information
Certain information regarding the Company set forth in this press
release, including the re-structuring of a joint venture company, the
proposed amount of financing, the proposed use of proceeds and
management's assessment of the company's future plans and operations
contain forward looking information that involve substantial known and
unknown risks and uncertainties. This forward looking information is
subject to, but not limited to, factors such as the actions of third
parties, the impact of general economic conditions, industry
conditions, results from future work programs; fluctuations of
commodity prices, availability of qualified personnel and management
and/or timely and cost effective access to sufficient capital from
internal and external sources. The Company's actual results,
performance or achievement could differ materially from those expressed
in or implied by the forward looking information and accordingly, no
assurance can be given that nay to the event anticipated to occur or
transpire from the forward looking information will provide any
benefits to the Company.
TSX Venture
Exchange
April 25,2011
Via Fax: 604-633-4897
K Maclnnes Law Group
Suite 1100, 736 Granville Street
Vancouver, BC
V6Z 1G3
Attention: Kathleen Maclnnes
Dear Sirs\Mesdames:
Re: STARFIRE MINERALS INC. ('SFR')
Property-Asset or Share Disposition Agreement - Submission
#167462
This is to confirm that TSX Venture Exchange has accepted for filing a
disposition agreement (the 'Agreement') dated April 7, 2011 made
between Starfire Minerals Inc. (the 'Company'} and Liaoning Eden
Venture Investments Ltd. ('Liaoning') whereby the Company will enter
into a joint venture agreement with Liaoning for the purpose of
developing the Company's Porphyry Pearl Property (the 'Property')
located in the Omineca Mining District, British Columbia. Pursuant to
the Agreement, the Company will incorporate a new company ('Newco') and
dispose of 100% of its interest, in the Property to Newco. The Company
will maintain an initial 100% interest in Newco, which can be reduced
to 49% if Liaoning funds an aggregate $9,000,000 in exploration
expenditures over a 3 year period. Liaoning will earn a 17% interest in
Newco for each $3,000,000 funded for an aggregate 51% interest in
Newco.
For further information please refer to the Company's news releases
dated December 20, 2010 and April 18, 2011.
This fax will be the only copy you receive. Should you have any
questions, please contact the undersigned at (604) 643-6549/FAX: (604) 844-7502/EMAIL: jeffrey.shon@tsx.com,
Yours truly,
'Signed'
Jeffrey Shon
Analyst
Listed Issuer Services
JS/dr
cc: Starfire Minerals Inc., Via Fax; (604) 455-0784
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Starfire Minerals Inc 3B - 1 9299 - 94th Avenue, Surrey, BC, V4N 4E6
Phone: 604-455-0484 Fax: 604-455-0784
Email: info@starfireminerals.ca