Starfire Minerals Inc. ("SFR") - TSX-V Accepts for filing a Property-Asset or Share Disposition Agreement

VANCOUVER, May 3 /CNW/ -- 
VANCOUVER, May 3 /CNW/ - Starfire Minerals Inc. ("Starfire") announces
 that it has received confirmation from TSX-Venture Exchange and the
 confirmation is as follows:


"This is to confirm that TSX Venture Exchange has accepted for filing a
 disposition agreement (the "Agreement") dated April 27, 2011 made
 between Starfire Minerals Inc. (the "Company") and Liaoning Eden
 Venture Investments Ltd. ("Liaoning") whereby the Company will enter
 into a joint venture agreement with Liaoning for the purpose of
 developing the Company's Porphyry Pearl Property (the "Property")
 located in the Omineca Mining District, British Columbia. Pursuant to
 the Agreement, the Company will incorporate a new company ("Newco") and
 dispose of 100% of its interest in the Property to Newco. The Company
 will maintain an initial 100% interest in Newco, which can be reduced
 to 49% if Liaoning funds an aggregate $9,000,000 in exploration
 expenditures over a 3 year period. Liaoning will earn a 17% interest in
 Newco for each $3,000,000 funded for an aggregate 51% interest in
 Newco."


ON BEHALF OF THE BOARD OF DIRECTORS OF
STARFIRE MINERALS INC.


"Dan Mosher "


Dan Mosher, President & CEO


THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT, WHO TAKES FULL
 RESPONSIBILITY FOR ITS CONTENTS. NEITHER THE TSX VENTURE EXCHANGE NOR
 ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
 POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESONSIBILITY FOR THE
 ADEQUACY OR ACCURACY OF THIS RELEASE.


Forward looking information


Certain information regarding the Company set forth in this press
 release, including the re-structuring of a joint venture company, the
 proposed amount of financing, the proposed use of proceeds and
 management's assessment of the company's future plans and operations
 contain forward looking information that involve substantial known and
 unknown risks and uncertainties. This forward looking information is
 subject to, but not limited to, factors such as the actions of third
 parties, the impact of general economic conditions, industry
 conditions, results from future work programs; fluctuations of
 commodity prices, availability of qualified personnel and management
 and/or timely and cost effective access to sufficient capital from
 internal and external sources. The Company's actual results,
 performance or achievement could differ materially from those expressed
 in or implied by the forward looking information and accordingly, no
 assurance can be given that nay to the event anticipated to occur or
 transpire from the forward looking information will provide any
 benefits to the Company.








TSX Venture
Exchange


April 25,2011


Via Fax: [phone]


K Maclnnes Law Group
Suite 1100, 736 Granville Street
Vancouver, BC
V6Z 1G3


Attention: Kathleen Maclnnes


Dear SirsMesdames:






Re:      STARFIRE MINERALS INC. ("SFR")

         Property-Asset or Share Disposition Agreement - Submission
         #167462





This is to confirm that TSX Venture Exchange has accepted for filing a
 disposition agreement (the "Agreement") dated April 7, 2011 made
 between Starfire Minerals Inc. (the "Company"} and Liaoning Eden
 Venture Investments Ltd. ("Liaoning") whereby the Company will enter
 into a joint venture agreement with Liaoning for the purpose of
 developing the Company's Porphyry Pearl Property (the "Property")
 located in the Omineca Mining District, British Columbia. Pursuant to
 the Agreement, the Company will incorporate a new company ("Newco") and
 dispose of 100% of its interest, in the Property to Newco. The Company
 will maintain an initial 100% interest in Newco, which can be reduced
 to 49% if Liaoning funds an aggregate $9,000,000 in exploration
 expenditures over a 3 year period. Liaoning will earn a 17% interest in
 Newco for each $3,000,000 funded for an aggregate 51% interest in
 Newco.


For further information please refer to the Company's news releases
 dated December 20, 2010 and April 18, 2011.


This fax will be the only copy you receive. Should you have any
 questions, please contact the undersigned at [phone]/FAX: [phone]/EMAIL: [e-mail],


Yours truly,


"Signed"


Jeffrey Shon
Analyst
Listed Issuer Services


JS/dr


cc: Starfire Minerals Inc., Via Fax; [phone]


 


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