Starfield Resources IncTSX: SRU

Starfield announces increase in private placement

· Issued by Starfield Resources Inc via CNW
Ferguson Lake Nickel-Copper-Cobalt-Platinum-Palladium Project, Nunavut, 
Canada

SRU - TSX.V
SRFDF - OTC BB

VANCOUVER, April 24 /CNW/ - Starfield Resources Inc. (TSX.V: SRU and  
OTC BB:SRFDF) ("Starfield" or the "Company") announces that its private
placement offering previously announced on April 6, 2006 will increase to up
to $16,566,653 (the "Offering"). The Offering will consist of up to 24,424,501
units of the Company at a price of $0.53 per unit and of up to 5,571,796  
flow-through common shares of the Company at a price of $0.65 per flow-through
common share. Each unit will consist of one common share and one-half of one
transferable common share purchase warrant of the Company. Each whole warrant
will entitle the holder to acquire one common share of the Company at an
exercise price of $0.75 per common share during the period ending one year
from the closing of the Offering.
The Company itself will offer units and flow-through common shares. This
non-brokered Offering will pay Max Capital Markets Ltd. ("Max Capital") a
finder's fee equal to 7% of a portion of the proceeds of the Offering. In
addition, at the closing of the Offering, Starfield will grant compensation
options entitling Max Capital to purchase that number of common shares equal
to 3.35% of the aggregate number of units and flow-through common shares sold
under the Offering. The compensation options may be exercised at a price of
$0.65 per common share during the period ending one year from the closing of
the Offering.
Closing of the transaction is expected to occur on or about May 9, 2006
and may occur earlier in tranches. Starfield will use the proceeds from the
Offering for general exploration expenditures and general working capital
purposes.

About Starfield

Starfield Resources Inc. is an advanced exploration and development
company focused on its Ferguson Lake Copper-Nickel-Cobalt-Palladium-Platinum
property located in Nunavut, Canada. The Ferguson Lake property covers more
than 1.3 million acres and is 100% owned by the Company. Since 1999, Starfield
has completed more than 100,000 metres of diamond drilling in 243 holes. In
addition to the NI 43-101 technical report which will be filed on Starfield's
SEDAR website within 45 days of April 6, 2006, the Company expects to announce
the results of geostatistical evaluations and a scoping study in 2006. A
developing feature of this mineral district is the significant discovery of
high grade platinum and palladium mineralization found in the footwall to the
massive sulphide deposit. Starfield's Ferguson Lake Project is unfolding as
Nunavut's largest ongoing base and precious metal project.

On behalf of the Board of Directors,

"Glen C. Macdonald"

Glen C. Macdonald, P.Geo., Director
(Glen Macdonald is the Qualified Person under National Instrument 43-101
responsible for preparing the technical disclosure in this news release)

Caution concerning forward-looking statements
---------------------------------------------
This communication to shareholders and the public contains certain
forward-looking statements. Actual results may differ materially from those
indicated by such statements. All statements, other than statements of
historical fact, included herein, including, without limitations statements
regarding future production, are forward looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the U.S. Securities Act of
1993, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable securities laws or an
exemption from such registration is available.



Starfield Resources Inc on 6ix

Story so far

Earlier from Starfield Resources

Later from Starfield Resources

All Starfield Resources news releases