Starfield Announces CDN$12 Million Private Placement Offering

Vancouver, Canada (ots/PRNewswire) -

Not for Distribution to U.S. Newswire Services or for
Dissemination in the United States

VANCOUVER, Canada, March 7 /PRNewswire/ --

VANCOUVER, Canada, March 7 /PRNewswire/ --

Starfield Resources Inc. ("Starfield" or the "Company") (TSX-V:
SRU and OTCBB: SRFDF) is pleased to announce a private placement
offering consisting of up to 25,000,000 units of the Company (each a
"Unit") at a price of CDN$0.24 per Unit and of up to 21,428,571
flow-through common shares of the Company ("Flow-Through Shares") at
a price of CDN$0.28 per Flow-Through Share (the "Offering"). Each
Unit will consist of one common share of the Company (a "Common
Share") and one-half of one transferable Common Share purchase
warrant (a "Warrant"). Each whole Warrant will entitle the holder to
acquire one Common Share at an exercise price of CDN$ 0.30 per Common
Share. The Warrants will be exercisable for 24 months following the
closing of the Offering (the "Closing Date"). In the event that the
Common Shares trade at a closing price on the TSX Venture Exchange
("TSX-V") of greater than CDN$0.375 per share for a period of 20
consecutive trading days at any time after four months and one day
after the Closing Date, the Company may accelerate the expiry date
of the Warrants by giving notice to the holders thereof and, in such
case, the Warrants will expire on the 30th day after the date on
which such notice is given by the Company.

VANCOUVER, Canada, March 7 /PRNewswire/ --

Mr. André J. Douchane, President and CEO of the Company, stated "I
am pleased that Starfield has commenced with this new private
placement offering, and upon completion of the offering, I am
confident that we will be able to advance our Ferguson Lake Project
to the next stage."

VANCOUVER, Canada, March 7 /PRNewswire/ --

Starfield will use the proceeds from the Offering for general
exploration expenditures and general working capital purposes.

VANCOUVER, Canada, March 7 /PRNewswire/ --

Westwind Partners Inc., Westwind Partners (UK) Limited and
Westwind Partners (USA) Inc. (together "Westwind") will act as the
lead agents for the Offering and will offer the Units and the
Flow-Through Shares on a best efforts basis. Westwind may appoint
other duly qualified agents ( collectively, with Westwind, the
"Agents") to assist with the Offering. The Company will pay the
Agents a commission fee equal to 7% of the gross proceeds of the
Offering. In addition, on the Closing Date, the Company will issue
non-transferable broker warrants to the Agents entitling the Agents
to collectively purchase Common Shares in an amount up to 7% of the
aggregate number of Units and Flow-Through Shares issued pursuant to
the Offering. Each broker warrant will entitle the holder to buy one
Common Share at the Unit issue price. The broker warrants will be
exercisable, in whole or in part, for a period of 24 months
following the Closing Date.

VANCOUVER, Canada, March 7 /PRNewswire/ --

The Company has provided Westwind with an option (the "Agents'
Option") to purchase or offer for sale up to an additional
12,500,000 Units and/or 10,714,285 Flow-Through Shares, collectively
not to exceed an aggregate principal amount of CDN$3,000,000, on the
same terms and conditions as the Offering. The Agents' Option is
exercisable no later than 7:30 p.m. ( Toronto time) on the second
business day prior to the Closing Date. The Closing Date is expected
to occur on or about March 22, 2007 and is subject to certain
conditions including, but not limited to, the receipt of all
necessary approvals including the approval of the TSX-V.

VANCOUVER, Canada, March 7 /PRNewswire/ --

The Offering will be made available in all provinces and
territories of Canada. Units may also be sold to U.S. purchasers on
a private placement basis pursuant to exemptions from the
registration requirements of the United States Securities Act of
1933, as amended (the "U.S. Securities Act ") provided by Rule 144A
or Regulation D under the U.S. Securities Act. In the United
Kingdom, the Units will be offered to persons who are both (i)
"Qualified investors" within the meaning of Section 86(7) of the
United Kingdom Financial Services and Markets Act 2000 ("FSMA"); and
acting as principals or in circumstances where Section 86(2) FSMA
applies and (ii) are within the categories of persons referred to in
Article 19 (Investment Professionals) or Article 49 (High net worth
companies, etc.) of the Financial Services and Markets Act 2000
(Financial Promotions) Order 2005.

VANCOUVER, Canada, March 7 /PRNewswire/ --

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the Units, Common Shares,
Flow- Through Shares or Warrants (the "Securities") in the United
States. The Securities have not been and will not be registered
under the U.S. Securities Act or any state securities laws, and may
not be offered or sold in the United States without registration
under the U.S. Securities Act and all applicable state securities
laws, or an exemption therefrom. Any public offering of the
Securities to be made in the United States will be made by means of
a prospectus that may be obtained from Starfield or a selling
security holder and that will contain detailed information about the
Company and management, as well as financial statements. No public
offering of the Securities will be made in the United States in
connection with the above-mentioned transaction.

VANCOUVER, Canada, March 7 /PRNewswire/ --

About Starfield: Starfield Resources Inc. is an advanced
exploration and development company focused on its Ferguson Lake
Copper-Nickel-Cobalt- Palladium-Platinum property located in Nunavut,
Canada. The Ferguson Lake property covers more than 1.3 million
acres and is 100% owned by the Company. Since 1999, Starfield has
completed 132,000 metres of diamond drilling in 359 holes. A
National Instrument 43-101 technical report dated May 15, 2006
prepared by N.C. Carter PhD., P.Eng. was filed on SEDAR and on
Starfield's website on May 25, 2006. A developing feature of this
mineral district is the significant discovery of high-grade platinum
and palladium mineralization found in the footwall to the massive
sulphide deposit. Starfield's Ferguson Lake Project is unfolding as
Nunavut's largest ongoing base and precious metal project.

VANCOUVER, Canada, March 7 /PRNewswire/ --

On behalf of the Company,

VANCOUVER, Canada, March 7 /PRNewswire/ --

André Douchane,

President and CEO

VANCOUVER, Canada, March 7 /PRNewswire/ --

Caution concerning forward-looking statements: This communication
to shareholders and the public contains certain forward-looking
statements. Forward-looking statements are generally identified by
the words "expect," "anticipates," "believes," "intends,"
"estimates," "plans" and similar expressions. Actual results may
differ materially from those indicated by such statements. Although
Company management believes that the expectations reflected in such
forward-looking statements are reasonable, investors are cautioned
that all statements, other than statements of historical fact,
included herein, including, without limitation statements regarding
future production, are forward looking statements that involve
various risks and uncertainties. These risks and uncertainties
include those discussed or identified in the Company's annual report
for the year ended February 28, 2006, as filed with the U.S.
Securities and Exchange Commission on Form 20- F. Among others, these
include risks related to the uncertainty associated with calculating
reserves and mineralization, operating hazards in the mining
industry and the Company's inability to meet its future capital
requirements. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Other
than as required by applicable law, the Company does not undertake
any obligation to update or revise any forward-looking information
or statements. The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of this press
release. This press release does not constitute an offer to sell or
a solicitation of an offer to buy any of the securities in the
United States. The securities have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons (as such
terms are defined in Regulation S under the U.S. Securities Act)
unless registered under the U.S. Securities Act and applicable
securities laws or an exemption from such registration is available.

www.starfieldres.com

VANCOUVER, Canada, March 7 /PRNewswire/ --

ots Originaltext: Starfield Resources Inc.
Im Internet recherchierbar: http://www.presseportal.de

Contact:
For further information: Michael Joyner, The Equicom Group,
+1-(416)-815-0700 ext.275, mjoyner@equicomgroup.com; André Douchane,
Starfield Resources Inc., +1-(416)-671-8089, www.starfieldres.com


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