Beaufield Resources Inc. BFDRF

Drilling 2nd week of Nov.

[causa]

Beaufield Consolidated Resources Inc BFD Shares issued 26,580,311 Nov 1 2002 close $ 0.17 Monday November 4 2002 News Release See Sparton Resources Inc (YSP) News Release Mr. Lee Barker of Sparton Resources reports SPARTON AND BEAUFIELD ANNOUNCE DRILLING PROGRAM TO BEGIN ON C ... The phase 1 drilling program is expected to begin the second week of November on the Cedar Creek optioned claims in the Hemlo gold area of Northern Ontario. The drill has been mobilized to the area and approximately 1,000 metres of drilling are planned to evaluate a number of untested geochemical and geophysical targets on the property in the first phase of the program (as reported in Stockwatch Aug. 22, 2002). Sparton may earn up to a 51-per-cent interest in the Cedar Creek claims from Beaufield by expending $500,000 on exploration on the 1,280-hectare property over a two-year period. The property is located approximately two kilometres north of the Golden Giant mine on the north boundary of the Cedar Creek stock, an intrusive body interpreted to potentially be genetically related to the formation of the Hemlo gold deposits. "With the recent equity financings announced by both companies, the Sparton-Beaufield Hemlo joint venture (as reported in Stockwatch Sept. 23, 2002) will be able to undertake a thorough technical evaluation of all our other joint property holdings in the area over the coming months," stated Jens Hansen, president of Beaufield. "We are also very fortunate to be able draw on the considerable experience of Mr. David Bell, a Beaufield director, who pioneered the original Hemlo area discoveries, in planning all the technical activities for the work programs at Hemlo," Lee Barker, president of Sparton, stated. The Hemlo gold camp currently generates about 25 per cent of the gold produced in Canada and 50 per cent of Ontario's gold production. Although little exploration has been carried out in the area over the last five to 10 years, the managements of Sparton and Beaufield believe that Hemlo still has considerable potential for new gold discoveries. Sparton and Beaufield are continuing their negotiations for additional properties in the area. (c) Copyright 2002 Canjex Publishing Ltd. https://www.stockwatch.com old url (better for printing)