Starfire options its Lordeau Uranium Property to Santos Resources Corp.

About this update from Sandfire Resources America Inc.

[{"type":"text","content":"\n\n\n\nTSXV: SFR\n\n\nVANCOUVER, May 29 /CNW/ - Starfire Minerals Inc. (the "Company")\nannounces that it has entered into a mineral property option agreement with\nSantos Resources Corp. ("Santos"), a private company with a director in common\nwith the Company, granting an option to Santos to acquire a seventy-five\npercent interest in the Company's property commonly referred to as the Lordeau\nproperty. The Lordeau property is one of the Company's seven uranium prospects\nand comprises 18 staked claims consisting of 919 hectares in Opinaca area of\nNorthern Quebec.\n\n\nIn order to acquire its interest in the Lordeau property, Santos is\nrequired to pay $10,000 cash, issue 75,000 shares of Santos and incur fifty\nthousand ($50,000) dollars of work expenditures on the property, $25,000 by\nSeptember 30, 2008 and a further $25,000 by July 25, 2009 to exercise the\noption. Both parties have agreed that upon Santos exercising its option and\nacquiring its 75% interest in the Lordeau property, they will then enter into\na further agreement whereby exploratory work is to be funded based upon the\npro-rata ownership of each party.\n\n\nPrevious work on the property consisted of the drilling of 84 shallow\nholes totalling 1,611 meters. This work was prior to the implementation of\nNational Policy 43-101 and as such cannot be relied upon.\n\n\nON BEHALF OF THE BOARD OF DIRECTORS OF\n\n\nSTARFIRE MINERALS INC.\n\n\n"Dan Mosher"\n\n\n------------\n\n\nDan Mosher\n\n\nPresident/CEO\n\n\nTHIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL\n\n\nRESPONSIBILITY FOR ITS CONTENTS. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT\n\n\nRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.\n\n\n","length":1819,"tagName":"div"}]

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