Exhibit 99.1
News release via Canada NewsWire, Toronto 416-863-9350
Attention Business/Financial Editors:
Starfield Reports Results For The Fourth Quarter And Year Ended February
28, 2010
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE U.S./
TORONTO, April 12, 2010 /CNW/ - Starfield Resources Inc. (TSX: SRU /
OTCBB: SRFDF) today announced its financial results for the fourth quarter and
year ended February 28, 2010 have been filed on SEDAR.
These financial results reflect the acquisition of Nevoro Inc., completed
on October 8, 2009. For the three and twelve month periods ended February 28,
2010, Starfield incurred costs for exploration and related equipment totaling
$0.6 million and $3.9 million, respectively. The expenditures in the fourth
quarter were directed toward property maintenance and assay results from this
year's drilling program. Administrative expenditures amounted to $0.8 million
and $2.1 million for the three and twelve months ended February 28, 2010,
respectively.
During the quarter ended February 28, 2010, as previously reported,
Starfield raised $4.1 million through private placements, and at February 28,
2010, the Company had approximately $3.6 million of cash on hand.
The annual audited financial statements, management's discussion and
analysis and additional information are available on the Company's website and
on SEDAR.
About Starfield
Starfield Resources Inc. is an exploration and development stage company
exploring for copper, nickel, and platinum group elements (PGE) in North
America. The Company has three main projects: a PGE project in Montana's
Stillwater District; a copper project in California's historic Moonlight
Copper Mining District; and a copper/nickel/cobalt/PGE project in Ferguson
Lake, Nunavut. Additional assets include a diamond joint venture in Nunavut,
additional copper/nickel/chrome projects in Montana, and a portfolio of eight
gold properties in Nevada that are currently under joint venture agreement.
Starfield is also funding the development of a novel, environmentally friendly
and energy efficient hydrometallurgical process to recover metals from massive
sulphides.
Forward-Looking Statements
This news release may contain certain information that constitutes
forward-looking statements. Forward-looking statements are frequently
characterized by words such as "plan," "expect," "project," "intend,"
"believe," "anticipate" and other similar words, or statements that certain
events or conditions "may" or "will" occur. Forward-looking statements are
based on the opinions and estimates of management at the date the statements
are made, and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors include the
inherent risks involved in the exploration and development of mineral
properties, the uncertainties involved in interpreting drilling results and
other geological data, fluctuating metal prices and other factors described
above and in the Company's most recent annual information form under the
heading "Risk Factors" which has been filed electronically by means of the
Canadian Securities Administrators' website located at www.sedar.com. The
Company disclaims any obligation to update or revise any forward-looking
statements if circumstances or management's estimates or opinions should
change. The reader is cautioned not to place undue reliance on forward-looking
statements.
www.starfieldres.com
%CIK: 0001074795
/For further information: Andre J. Douchane, President and CEO, (416)
860-0400 ext. 222, adouchane(at)starfieldres.com; Greg Van Staveren, Chief
Financial Officer, (416) 860-0400 ext. 223, gvanstaveren(at)starfieldres.com;
Connie Anderson, Investor Relations, (416) 860-0400 ext. 228,
canderson(at)starfieldres.com/
(SRU. SRFDF)
CO: Starfield Resources Inc.
CNW 10:00e 12-APR-10
