SFR Sandfire Resources America Inc

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:   604-455-0484    Fax:   604-455-0784br/ Email:   a href="mailto:info@starfireminerals.ca"info@starfireminerals.ca/a /p

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