Beaufield Resources Inc. BFDRF

NEWS

[causa]

Consolidated Resources Inc - News Release Sparton and Beaufield to acquire four more properties Beaufield Consolidated Resources Inc BFD Shares issued 22,930,311 Sep 20 2002 close $ 0.16 Monday September 23 2002 News Release See Sparton Resources Inc (YSP) News Release Mr. A. Lee Barker of Sparton Resources reports SPARTON AND BEAUFIELD ANNOUNCE A MAJOR EXPANSION OF THEIR GOL ... Beaufield Consolidated Resources and Sparton Resources have entered into four new agreements in a major expansion of their gold exploration activities in the Hemlo gold-producing area of Ontario. These projects are in addition to the Cedar Creek program which was announced in Stockwatch on Aug. 22, 2002, for which a drilling program is scheduled to commence in early October. The four new properties consist of: Heron Bay: 832 hectares in five units Manitouwadge Road: 3,504 hectares in 219 units Pic River: 2,640 hectares in 165 units Melrose: 768 hectares in five units and adjoins the Cedar Creek joint venture These properties have numerous gold showings and the geology and structure are similar to the Hemlo mines. Hemlo is ranked the largest gold-producing area in Canada with over 900,000 ounces of annual production. "At current production rates, new gold discoveries will be required in the Hemlo area in the very near future to keep the mines operating," said Sparton President, A. Lee Barker. "These mines are the principal source of employment for several communities including Manitouwadge, Marathon and White River," he added. The addition of these four properties makes the joint venture the largest landholder of exploration properties in the Hemlo area. The joint venture total holdings are approximately 9,250 hectares or 23,000 acres on which a three-year exploration program will be carried out. The companies are currently negotiating for two other large properties in the Hemlo area. (c) Copyright 2002 Canjex Publishing Ltd. https://www.stockwatch.com old url (better for printing)