SFR Sandfire Resources America Inc

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: 604-633-4897 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 (604) 643-6549/FAX: (604) 844-7502/EMAIL: jeffrey.shon@tsx.com, Yours truly, "Signed" Jeffrey Shon Analyst Listed Issuer Services JS/dr cc: Starfire Minerals Inc., Via Fax; (604) 455-0784   To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/May2011/03/c8912.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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