Starfire Minerals Inc. ("SFR") - TSX-V Accepts for filing a Property-Asset or Share Disposition Agreement
04 May 2011 - 4:07AM
PR Newswire (Canada)
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 SirsMesdames: 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 To view this news release in
HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/May2011/03/c8912.html p
align="center" Starfire Minerals Inc 3B - 1 9299 -
94supth/sup Avenue, Surrey, BC, V4N 4E6 br/
Phone: 604-455-0484 Fax:
604-455-0784br/ Email: a
href="mailto:info@starfireminerals.ca"info@starfireminerals.ca/a /p
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