Starfire Minerals Inc. - News Release

TSXV: SFR

VANCOUVER , Nov. 24 /CNW/ - Management of Starfire Minerals Inc. (the "Company") is pleased to report that it has completed its review of the results from the Titan DCIP (Direct Current Induced Polarization) survey conducted by Quantec Geoscience Ltd. on the PP Zone of the Company's Porphyry Pearl Copper-Gold Property in the Toodoggone Mining District, British Columbia. Given the positive results, the Company is planning to implement a diamond drilling program (Phase II of the program recommended in the NI 43-101 compliant report prepared by James A. Turner, P.Geo., Phase I being the Titan 24 survey).

As reported in the Company's release of August 27th, 2009 , the survey was conducted between August 5th and August 13th 2009 and consisted of four 2.5-km lines spaced 400 meters apart on sections 3400, 3800, 4200 and 4600 North and bracketing the 2007-2008 drilling on sections 3800 and 3900 North. The Quantec survey was conducted with an "a-spacing" of 50 meters vs. 100 meters in the previous survey done in 2006, resulting in an increased data density over the previous survey by a factor of four providing greater resolution, and greatly increasing the resolution to depths of 500 to 700 meters. The Company's interpretation is posted on the Company website at http://www.starfireminerals.ca/.

The on the basis of the 3-D inversion model provided by Quantec, the Company has interpreted a target. Using a threshold phase (proportional to chargeability) of 27.7 milliradians as the envelope that encloses the chargeable body and the mineralized intersections within the Porphyry Pearl intrusion, the Company has outlined a volume that has a strike in excess of 800 meters with the top of the anomaly at depths ranging from 20 to 285 meters and the thickness ranging from 140 to 380 meters. The width of the envelope ranges from 390 to 535 meters. The Company is extremely encouraged by these results as they support a target size approximating 250 million tonnes. Drilling by the Company of 9 holes within the envelope during 2007 and 2008 intersected up to 208 meters averaging 0.70 grams Au per tonne (see table below). The reader is cautioned that this is not a mineral resource or reserve estimate and it is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain that further exploration will result in the discovery of a mineral resource.

    
         Significant Drill Intersections on the Porphyry Pearl Zone

                                        Au                  eq
    Hole        From      To  Meters   (g/t)  Cu %   Zn %   Au(2)  Remarks
    No.                                  (1)                (g/t)
    1                                                             no
                                                                  significant
                                                                  results
    2         194.00  209.00   15.00  0.352  0.033  0.104  0.504
    2         328.00  356.00   28.00  0.423  0.027  0.271  0.718
    includes  341.00  356.00   15.00  0.634  0.037  0.313  0.983
    5          51.83  128.00   76.17  0.463  0.054  0.056  0.607
    includes   51.83  111.76   59.93  0.431  0.050  0.061  0.574
    and       118.00  128.00   10.00  0.768  0.088  0.047  0.962
    6         103.02  311.20  208.18  0.701  0.046  0.095  0.867
    includes  299.92  301.90    1.98 13.570  0.027  0.140 13.744  Au by
                                                                  metallic
                                                                  assay
    7          89.31   99.97   10.66  0.617  0.058  0.053  0.765
    7         124.36  264.72  140.36  0.668  0.066  0.233  0.995
    7         294.44  304.34    9.90  0.863  0.069  0.102  1.074
    7         328.12  340.00   11.88  0.508  0.051  0.650  1.189
    7         381.61  395.48   13.87  1.078  0.012  0.130  1.216
    8          90.98  154.84   63.86  0.604  0.047  0.165  0.835
    8         295.50  324.92   29.42  1.125  0.080  0.167  1.415
    8         367.59  395.94   28.35  0.362  0.046  0.255  0.674
    9         110.03  183.18   73.15  0.396  0.049  0.116  0.586
    9         250.24  321.56   71.32  0.496  0.054  0.194  0.764
    9         347.32  361.49   14.17  0.277  0.022  0.657  0.915
    10        175.26  311.96  136.70  0.915  0.051  0.157  1.147
    includes  258.47  260.45    1.98 23.820  0.040  0.930 24.739  Au by
                                                                  fire assay
    11         89.92   99.06    9.14  0.721  0.042  0.047  0.836
    11        117.35  260.60  143.25  0.508  0.054  0.141  0.729

    (1) g/t = grams per tonne.
    (2) eq Au = Equivalent gold calculations use metal prices of
        US$1.50 for copper (Cu), $US 0.80 for zinc (Zn) and US$600/oz for
        gold (Au). Metal urgical recoveries and net smelter returns for all
        metals are assumed to be 100%. Equivalent gold = Au g/t +
        (Cu% x 33.07/19.29) + (Zn% x 17.64/19.29).
    

The drill program will consist of two sub-phases, Phase II-A consisting of a 10-hole program totaling approximately 4,650 meters at a cost of $2.56 million . Phase II-B is contingent on sufficiently encouraging results from Phase II-A, and consists of an 11-hole programme totaling approximately 4,750 meters at a cost of $2.61 million .

The Porphyry Pearl Property is logistically well-positioned. The PP Target lies 10 kilometers north of the Toodoggone River and a further 67 road kilometers to the Kemess Mine where existing power lines terminate.

The company is actively seeking financing for the next phase of the project, either in the form of a joint venture or through private placements.

The Qualified Person for purpose of this news release is Mr. Philip J. Rush , P. Geo.

Starfire Minerals Inc. includes uranium, nickel and precious & base metal divisions with properties in Ontario, Quebec and British Columbia.

    
    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. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT
    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 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. The forward looking information is subject to numerous risks and uncertainties, some of which are beyond the Company's and management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, imperfection of reserve estimates, environmental risks, industry competition, availability of qualified personnel and management, stock market volatility, 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 form the forward looking information will provide any benefits to the Company.

For further information: Starfire Minerals Inc., 520 - 355 Burrard Street, Vancouver, BC, V6C 2G8, Telephone: [phone], Facsimile: [phone]