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Gold/Mining/Energy : SRU-ASE : STARFIELD RESOURCES -- Ignore unavailable to you. Want to Upgrade?

To: Tim Davies who wrote (671)	10/12/1999 7:52:00 PM
From: CIMA	Respond to of 1239

PRESS RELEASE October 12, 1999 Corporate Office: #99-16 Suite 420-625 Howe Street SRU - ASE Vancouver, BC CANADA V6C 2T6 SRFDF – OTC BB Tel: (604) 608-0400 Fax: (604) 608-0344 Toll Free: (877) 233-2244 email: info@starfieldres.com website: starfieldres.com Progress Report on Ferguson Lake Nickel/Copper/Platinum/Palladium/Cobalt Deposit Starfield Announces Decision to Commence Advanced Phase III $2.5 million Exploration Drilling Program on Ferguson Lake Project, Nunavut Territory Nunavut Territory - Management of Starfield Resources Inc. is pleased to announce consistent and highly encouraging assay results from the Company's recent two phase exploration drilling program has resulted in a decision to commence with a major $2.5 million multi-phase drilling program to advance its promising Ferguson Lake nickel/copper/platinum/palladium base metals project located in Nunavut Territory, Canada. Proven Mineral Inventory The Ferguson Lake nickel-copper deposit was discovered by the Canadian exploration arm of Inco in 1950. Over the next five years, Inco conducted an aggressive exploration program expending in excess of $2.2 million dollars (valued at $15 million in 1999 dollars). The work included greater than 100,000 feet of drilling and removal of a 10 ton bulk sample from the 6.4 million ton defined deposit. The property was taken to mineral lease in 1957 and held by Inco a total of 35 years. At the time work was completed on the property in the mid 1950's, the deposit remained open at depth beyond the 100 vertical meters drilled and additional mineralized zones had been identified throughout the 9 km host amphibolite/hornblendite unit which can be traced on the surface. During Inco's exploration, work concentrated on the nickel-copper components of the mineralization. In 1987 Homestake, an international precious metals producer, gained access to the property and discovered significant platinum, palladium and cobalt values in addition to the base metals previously reported. Starfield's work on the property began in 1998 with an initial property examination, staking and sampling of known mineralization. Additional promising zones of mineralization were discovered during reconnaissance prospecting. Strong Assay Results To date, Starfield has completed two drill programs totalling 19 holes. Results from the first eight holes have consistently encountered significant mineralization, remaining open at depth. Results from the eleven remaining holes are expected to further expand the strike length of the known deposit and are to be released imminently. In addition, the Company conducted a property scale airborne geophysical survey and a detailed geologic and structural mapping program. The conclusions drawn from the data strengthen Starfield's exploration target that a minimum of 50,000,000 tons of mineralization, similar to that previously drilled by Inco, exists on the property. The overall size potential of the property's mineralized zones is evident in the great strike length over which mineralization has been intersected within the host unit. The airborne survey has traced the amphibolite/hornblendite unit over 18 km (12 miles) with the furthest drill intersections in mineralization 15 km (9 miles) apart. The deepest drill intercepts are only 200 meters (660 ft), this is very shallow and significantly increases potential to add tonnage at depth. Company geologists believe a very large metallogenic system at depth is responsible for distributing the associated mineralization over the distances it occurs on this property. World Class Potential Recent access by Starfield to extensive and comprehensive data obtained from the Inco program has greatly accelerated progress on the property. The company is current receiving the remaining drill results from the phase 2 drill program of 14 holes. The first 3 holes were designed to test the down-dip continuation of the defined resource. The results exceeded expectations and demonstrated mineralization open at depth an additional 60 m (200 ft) down-dip of previous intersections. Hole 99-10 intersected almost 26 meters (85 feet) of mineralization reporting 1.35% Cu, 0.50% Ni, 1.54 lb of Co, and 1.2 grams of Pd+Pt. New tonnage figures will be published upon completion of assays. The recently acquired Inco data, and the advances made on the property by Starfield will allow the Company to begin calculating additional tonnage to the existing deposit. Drilling highlights include: Hole # 99-01 4.34 meters (14.20 ft) of 0.71% Ni, 1.07% Cu, 1.75 lb Co, 2.37 grams Pd+Pt 99-05 11.20 meters (36.75 ft) of 0.76% Ni, 0.93% Cu, 2.20 lb Co, 1.58 grams Pd+Pt 99-09 15.44 meters (50.66 ft) of 0.64% Ni, 0.97% Cu, 2.20 lb Co, 1.35 grams Pd+Pt 99-10 25.93 meters (85.07 ft) of 0.50% Ni, 1.35% Cu, 1.54 lb Co, 1.20 grams Pd+Pt Ore Microscopy and Microprobe work conducted by Cominco Laboratory Services have shown the commodity elements of interest to report to individual mineral species: Nickel to Pentlandite, Palladium+Platinum to Moncheite, Cobalt to Gersdorffite and Copper to Chalcopyrite. This has positive implications for future metallurgical work which will be conducted as the program progresses. Upcoming $2.5 million winter drill program Plans for a 25,000 meter (82,000 ft) drilling program utilizing three drill rigs are under way. Two rigs will concentrate on adding tonnage to the known deposit and a third will test exploration targets over the 18 km strike length of the amphibolite/hornblendite unit. A high priority target for Starfield is north of the down-dip mineralized horizon, which lies at a depth of between 250-500 meters (750-1500 ft). Independently theorized by the geophysical and geological surveys, both studies point to the area as hosting the source or bulk of high grade mineralization. Marriette Henderson, a former G.S.C. mapping geologist and an expert on the structural geology of the area, concludes that the unit hosting mineralization is doubly plunging like a canoe with the keel developed to the north and down-dip of the known deposits. Independently, Vancouver-based SJ Geophysical Services upon reviewing the results of this years land and airborne geophysical surveys concluded that a very large conductive body may be present in the area of the keel structure. They based their conclusions on Magnetic and UTEM responses in the area as well as the Airborne survey flown this summer. The metaliferous horizon is highly magnetic and conductive to electrical currents giving two independent geophysical signatures to the mineralized rock. To date every target drilled with these signatures on the property have intersected mineralization. BEHALF OF THE BOARD OF DIRECTORS “Glen J. Indra” Glen J. Indra President