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Gold/Mining/Energy : SRU-ASE : STARFIELD RESOURCES

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To: Jim Bishop who wrote (528)	6/16/1999 10:46:00 AM
From: CIMA	Read Replies (1) of 1239

STARFIELD RESOURCES INC. PRESS RELEASE June 16, 1999 Corporate Office: #99-09 Suite 420-625 Howe Street SRU-ASE Vancouver, BC CANADA V6C 2T6 Tel: (604) 608-0400 Fax: (604) 608-0344 Toll Free: (877) 233-2244 EXCITING NEW DISCOVERY FINDS PGE & COBALT AT FERGUSON LAKE, NUNAVUT, CANADA Starfield Resources Inc. (Starfield”) is pleased to report assays from the initial five-hole drill program completed on the Ferguson Lake property. The initial drill program was designed to test for platinum/palladium (PGE) and cobalt (Co) content within the known West zone lower grade resource identified by Inco (1950's) and the “the East zone” extension where surface sampling and Inco drilling indicate an apparent increase in grade along strike. Drill results confirm the presence of significant PGE and cobalt mineralization both within the known resource and along strike in the East zone. The potential of the property has been greatly enhanced with the addition of PGE and cobalt. Preliminary geophysical results indicate the two zones (East and West) are connected and open beyond the 8.2 kilometer strike length. Additional staking to extend the property boundaries has been completed. The PGE and cobalt mineralization is contained within the nickel-copper bearing massive sulphide horizon, and appears consistent in the two zones drilled. The presence of these elements enhance the unit value of the original discovery. Based on current commodity prices, valued in US dollars (Cu $0.62/lb – Ni $2.35/lb – Pt/Pd $375/oz - Co $20/lb) the drill intersections contain gross metal values ranging from a low of approximately US$80/ton in the West zone up to US$110/ton in the East zone. Drill results are summarized below from the attached Appendix. Drill Length Ni Cu Combined Cobalt Hole Interval (m) % % PGE(g/t) (lbs/t) % EAST ZONE FL 99-01 74.60-77.82 3.22 0.68 0.93 1.93 (1.6) 0.08 (Incl.) 74.60-75.67 1.07 1.07 1.04 2.01 (2.6) 0.13 77.82 – 82.16 Post-Mineral Basic Dyke 82.16-86.50 4.34 0.71 1.07 2.37 (2.0) 0.10 FL 99-05 117.48-128.57 11.09 0.76 0.93 1.58 (2.2) 0.11 (Incl) 120.75-125.13 4.38 0.96 0.94 1.79 (2.6) 0.13 The East zone holes intersect mineralization up-dip of Inco hole no. 9483 which intersected 23 meters grading 1.28% Ni and 1.08% Cu (and was not analyzed for PGE/cobalt content). On this section the massive sulphide mineralization has now been traced down-dip over 300 meters from surface. Mineralization appears to thicken with depth and grade appears to be increasing with further drilling to be conducted to test this observation. . . /2 WEST ZONE FL 99-02 68.50-69.25 0.75 0.18 0.46 0.52 (0.4) 0.02 74.80-77.00 2.20 0.33 0.70 0.98 (1.6) 0.08 (Incl) 74.80-75.80 1.00 0.61 0.86 1.80 (2.4) 0.12 FL 99-03 41.85-54.30 12.45 0.39 0.71 1.16 (1.0) 0.05 (Incl) 43.24-45.63 2.39 0.52 1.03 1.46 (1.4) 0.07 and 49.08-54.30 5.22 0.51 0.85 1.47 (1.4) 0.07 FL 99-04 55.20-67.70 12.5 0.35 0.64 1.11 (1.0) 0.05 (Incl) 61.70-67.70 6.0 0.61 0.73 1.77 (1.4) 0.07 The drill holes were also designed to evaluate the effectiveness of the geophysical technique being used by intersecting known geophysical anomolies. The geophysical survey results are currently being analyzed in conjunction with the drill results and an interpretaiton will be released upon receipt. A comprehensive report is being prepared to summarize the program to date. Starfield expects to begin its $1.2 million summer program in July which will include further drilling, geophysics and geologic mapping. For further information, please contact Starfield at (604) 608-0400 or email at info@starfieldres.com. or website at www.starfieldres.com. ON BEHALF OF THE BOARD OF DIRECTORS “Glen Macdonald” Glen Macdonald, P.Geo. Director FERGUSON LAKE DRILLING RESULTS APPENDIX A EAST ZONE Hole No. Interval(m) Length(m) Ni(ppm) Ni(%) Cu(ppm) Cu(%) Co(ppm) Co(%) Pt(ppb) Pt(g/t) Pd(ppm) Pd(g/t) FL99-01 74.60-77.82 3.22 6822 0.68 9256 0.93 897 0.09 820 0.82 1072 1.07 (Incl. 64.60-75.67 1.07 10734 1.07 10372 1.04 1341 0.13 357 0.36 1650 1.65 77.82-82.16 Post-Mineral Basic Dyke 82.16-86.50 4.34 7133 0.71 10673 1.07 999 0.1 373 0.37 1984 1.98 FL99-05 117.48-128.57 11.09 7614 0.76 9234 0.92 1043 0.1 317 0.32 1244 1.24 (Incl. 120.75-125.13 4.38 9599 0.96 9365 0.94 1245 0.12 280 0.28 1511 1.51 WEST ZONE Hole No. Interval(m) Length(m) Ni(ppm) Ni(%) Cu(ppm) Cu(%) Co(ppm) Co(%) Pt(ppb) Pt(g/t) Pd(ppb) Pd(g/t) FL99-02 68.50-69.25 0.75 1767 0.18 4592 0.46 223 0.02 15 0.02 500 0.5 74.80-77.00 2.2 3303 0.33 7023 0.7 765 0.08 67 0.07 915 0.92 (Incl. 74.80-75.80 1 6092 0.61 8588 0.86 1230 0.12 110 0.11 1690 1.69 FL99-03 41.85-54.30 12.45 3917 0.39 7168 0.72 531 0.05 181 0.18 985 0.99 (Incl. 43.24-45.63 2.39 5193 0.52 10335 1.03 640 0.06 231 0.23 1231 1.23 (and 49.08-54.30 5.22 5052 0.51 8541 0.85 674 0.07 242 0.24 1232 1.23 FL99-04 55.20-67.70 12.5 3545 0.35 6382 0.64 486 0.05 147 0.15 987 0.99 Incl. 61.70-67.70 6 6090 0.61 7272 0.73 752 0.08 210 0.21 1560 1.56

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