Trading Symbol: SFR: TSX-Venture VANCOUVER, March 7 /CNW/ - Starfire Nickel Inc., a division of Starfire Minerals Inc. is pleased to announce that research on historical data relating to its 96 hectare Carman Township property located 20 kilometres east-southeast of Timmins Ontario, Canada has revealed a major outcropping zone of nickel sulphide mineralization. In a 1973 statement of Material Facts by Seneca Developments Limited, a "global resource" figure calculated by Dr. Kenneth H. Darke, P.Eng was stated to be 740 million tons (at) 0.25 % nickel. Work on the property at that time and used to support the estimate consisted of numerous pits and trenches and drilling of 8,500 feet of core in seven diamond drill holes, one of which, hole BM-7, is stated to have averaged 0.251% nickel over a continuous core section of 1,227 feet. (Dept of Energy, Mines and Resources, Ottawa File F 507918). The term "global resource" is considered to be equivalent to the CIM inferred resource category. The company is not treating the historical resource as a NI 43-101 defined resource or reserve verified by a qualified person and the historical resource should not be relied upon. This historical inferred resource illustrates the potential size of a nickel-bearing exploration target that could be delineated on the property. Mineralogical and microprobe work conducted in 1970 on seventeen polished thin sections by Dr. John C. Rucklidge of the University of Toronto showed the nickel sulphide minerals to include heazlewoodite, millerite, pentlandite and a native iron-nickel alloy awaruite. Microprobe work also indicated the presence of cobalt in the sulphides. The studies also indicated that from 70 - 92% of the nickel content is in the form of sulphide and/or metallic iron - nickel alloy, i.e. as soluble phases. A Geological report on the property dated 1998 by Todd Keast, P.Geo. recommended a program of geophysical, geochemical and drilling work to further evaluate the nickel and copper sulphide mineralization on the property. The property lies within the Shaw Dome area of the productive Timmins Nickel belt where several former producers, current producers, and several properties undergoing current exploration are located. The property lies 3 km north of the Langmuir No 2 mine area where Inspiration Mining Corp is conducting extensive drilling and 4 km north of Starfire's Langmuir-South Property where an exploration program has been initiated on the extension of the Langmuir South nickel sulphide zone. This press release was reviewed and verified by Gerald Harron, P.Eng of G. A. Harron and Associates of Toronto, the qualified person (QP) experienced in nickel exploration, who has been retained to prepare an NI 43-101 technical report covering the Carman Township Property and to recommend an exploration program to evaluate the potential for an open-pit bulk tonnage mining scenario. Starfire Minerals Inc. includes uranium, nickel and precious & base metal divisions with properties in Ontario, Quebec and British Columbia. ON BEHALF OF THE BOARD OF DIRECTORS OF STARFIRE MINERALS INC. "Dan Mosher" ---------------------- Dan Mosher President/CEO