Starfire Minerals Inc. makes final payment for Porphyry Pearl Property.

VANCOUVER, April 26 /CNW/ -- 
TSXV: SFR


VANCOUVER, April 26 /CNW/ - Starfire Minerals Inc. ("Starfire")
 announces that it has made its final payment for the Porphyry Pearl
 Property ("PPP") to (Arne Birkeland) in the amount of $125,000. With
 the completion of work commitments in the amount of $1,717,979, the
 property will be transferred to Starfire. Work totaling $3,032,021 has
 already been completed.


Pursuant to a recently signed Joint Venture agreement, Starfire and
 Liaoning will jointly explore and develop the Porphyry Pearl Property
 located in the Toodoggone District of British Columbia through a newly
 formed joint venture company ("NEWCO"). Liaoning will be able to earn
 up to a 51% interest in NEWCO through an investment of up to $9 million
 over 36 months, which funds will be used exclusively for exploration
 and development work on the Porphyry Pearl property. The minimum annual
 investment by Liaoning is $3 million.


Accordingly, plans are underway in conjunction with Liaoning Non-Ferrous
 Geological Research and Exploration Institute of Liaoning, PRC.
 ("Liaoning China") to continue exploration of the PPP during this
 summer drill season. Bid documents have been forwarded to suppliers and
 subcontractors.


Starfire looks forward to working with Liaoning in the further
 development of this copper/gold project.


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 DEFPWED PN THE
 POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY 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 any of the events
 anticipated to occur or transpire from the forward looking information
 will provide any benefits to the Company.


To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/April2011/26/c7085.html



p align="center" Starfire Minerals Inc 3B - 1 9299 - 94supth/sup Avenue, Surrey, BC, V4N 4E6 br/ Phone:   [phone]    Fax:   [phone]br/ Email:   a href="mailto:[e-mail]"[e-mail]/a /p 

Copyright