Viacom Inc. VIAB

G buys 10% bfd.v next door Eleanor-#104

[BlueJay21]

1/11/06 GOLDCORP ACQUIRES STRATEGIC STAKE IN BEAUFIELD Symbol : BFD : TSX Venture Exchange Beaufield Consolidated Resources Inc. (TSX-Venture:BFD) is pleased to announce that it has entered into an agreement with Goldcorp Inc. whereby Goldcorp will purchase, on a private placement basis, 6.8 million units of Beaufield at a price of $0.50 per unit for gross proceeds of $3.4 million. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one Common Share at $0.55 for a period of 2 years. Following the transaction, Goldcorp will hold 9.9% of Beaufield 's common shares and 14.2% on a fully-diluted basis after giving effect to the exercise of the warrants. Goldcorp has previously announced that it has signed a definitive agreement with Virginia Gold Mines Inc. to acquire the company, which holds the Eleonore gold property adjacent to Beaufield 's Opinaca property. The strategic relationship with Beaufield will now give Goldcorp a toehold investment in Beaufield which owns the land package directly adjoining Eleonore and will allow for both companies to pool their exploration efforts in the camp. Beaufield will continue to control and explore its properties, including Opinaca, with cash on hand and with the newly acquired funds from Goldcorp. The agreement will provide that Beaufield and Goldcorp will have the opportunity to cooperate on technical, financial and permitting issues relating to Beaufield 's Opinaca property. “Following this transaction, Beaufield would benefit from the knowledge of Goldcorp's ownership of the Eleonore property as it continues to explore its Opinaca property which has similar geology. We also welcome the fact that they are experienced mine operators, which augurs well for the entire area which has the potential to become a significant mining camp” said Jens Hansen, Beaufield 's President. Goldcorp's Director, Project Development, Randy Smallwood said: “Our analysis of the Eleonore property has indicated to us that Beaufield 's Opinaca property represents an excellent complement to Goldcorp's land holdings. As a significant shareholder of Beaufield , we would look forward to working the Company to help in its exploration efforts on Opinaca.” The closing of the transaction is subject to completion of formal documentation and all necessary regulatory and stock exchange approvals. Blackmont Capital acted as financial advisor for Beaufield and will receive a 6% cash commission and 408,000 common share purchase warrants exercisable at $0.55 for a period of 2 years. Following this transaction, Beaufield will have approximately $6 million in cash and will be fully funded to embark on three active exploration programs in 2006. Drill programs are currently being prepared for the Company's Opinaca gold and Troilus base metals projects in Quebec and for its Hemlo gold property in Ontario . Signed: “Jens E. Hansen, P. Eng”, President FOR MORE INFORMATION PLEASE CONTACT: Louis Morin, Manager, Investor Relations Tel: [phone] E-mail: [e-mail] Jens E. Hansen, P.Eng, President Tel: [phone] Fax: [phone] E-mail: [e-mail]