Exhibit 99.1
News release via Canada NewsWire, Toronto 416-863-9350
Attention Business Editors:
Starfield Resources Completes $2.4 Million Private Placement
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE U.S./
TORONTO, June 14, 2010 /CNW/ - Starfield Resources Inc. ("Starfield" or
the "Company") (TSX: SRU) today announced it has closed the previously
announced private placement offering (the "Offering") of units for gross
proceeds of $2,384,650. Starfield issued 28,054,704 units of the Company (the
"Units") at a price of $0.085 per Unit.
Each unit consists of one flow-through share (the "Flow-Through Shares")
and one half of one common share purchase warrant (the "Warrants"). Each whole
Warrant will entitle the holder to purchase one additional common share of
Starfield at a price of $0.15 for 12 months from the closing date. The
Flow-Through Shares and Warrants (and any common shares of the Company
acquired upon exercise of the Warrants) will be subject to a hold period of
four months plus one day extending from the closing date of the Offering.
Thomas Weisel Partners Canada Inc. acted as the agent in connection with
the Offering.
The Company intends to use the net proceeds from the Offering for
exploration efforts, including advancement of its hydromet test work, which
constitutes Canadian exploration expenses for Canadian income tax purposes.
About Starfield
Starfield Resources Inc. is an advanced exploration and development stage
company. The Company's primary asset is its Ferguson Lake
nickel-copper-cobalt-platinum-palladium property in Nunavut, Canada.
Additional assets include a nickel-copper-cobalt-PGE-chrome project in the
Stillwater district of Montana with historic copper, nickel and chromite
resources (non 43-101 and not to be relied on); the Moonlight copper project
in California with significant NI 43-101 copper resources; and a portfolio of
eight gold properties in Nevada.
Starfield has also funded the development of a novel, environmentally
friendly and energy efficient hydrometallurgical flow sheet 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/
(SRFDF SRU.)
CO: Starfield Resources Inc.
CNW 07:00e 14-JUN-10
