OTTAWA, ONTARIO--(Marketwire - Oct. 10, 2012) - Beaufield Resources Inc. ("Beaufield" or the "Company") (TSX VENTURE:BFD) is pleased to announce the nomination of Mr. Kevin Weston as President and CEO of the Company replacing Mr. Jens Hansen. Mr. Weston who is a Director of Beaufield will join the Company as of November 1st, 2012 on a full time basis. Mr. Hansen will remain a Director of the Company.
Mr. Weston is a mining industry veteran with over 30 year's experience following his graduation from McGill University in Mining Engineering. Notably, he was most recently Chief Operating Officer ("COO") for Maudore Minerals Ltd. whose Osbell deposit is currently under late stage exploration. As COO for Farallon Mining Ltd., Mr. Weston was able to take the G-9 operation to commercial production over three quarters and as COO for Sherwood Copper Corp., the Minto Mine commercial production was achieved in two quarters. His other experience covers seven different provinces and two Territories in Canada, Zimbabwe and Tunisia. A results focused mining professional, Beaufield will certainly benefit from his experience in creating long term shareholder value. Mr. Weston is fluent in English, French and Spanish.
Jens Hansen, President and CEO of the Company stated "Beaufield is very fortunate to have been able to attract a mining engineer of the reputation and qualifications of Kevin Weston. Kevin's experience will be the key to move Beaufield's high quality projects to the next stage of development and increase shareholder value".
The Board of Beaufield would like to thank Mr. Hansen for his long dedication to the Company. His foresight has enabled the Company to assemble an extremely valuable portfolio of properties that the incoming President and CEO will work with in order to take the Company to the next level. Mr. Hansen's continued presence as a Board member will enable him to provide continuity and ensure a seamless transition.
In addition, the Board of Directors of the Company has also approved the granting of 500,000 options to Mr. Weston under the stock option plan of the Company. The options are exercisable at a price of $0.20 during a five year period expiring on November 1st, 2017. The grant of options remains subject to regulatory approval.
About Beaufield Resources Inc.
Beaufield has diversified properties with exposure to gold, iron ore and base metals, all located in the provinces of Quebec and Ontario.
The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although Beaufield deems the expectations reflected in these forward-looking statements to be reasonable, the Company cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.