TORONTO, ONTARIO, Sep. 28, 2010 (Marketwire) -- Seafield Resources Ltd. ("Seafield" or the "Company") (TSX VENTURE:SFF) is pleased to announce the engagement of Ubika Corporation ("Ubika") as a consultant to provide capital market exposure services. Ubika's engagement commenced as of September 28, 2010 and will extend for a two-year term. Thereafter, the engagement will be subject to automatic renewals unless either Seafield Resources or Ubika terminates the engagement upon giving the other party 30 days advance notice.
In consideration for Ubika's services, Seafield Resources will pay a monthly fee of $2,000 and will, subject to TSX Venture Exchange (the "Exchange") approval, grant to Ubika a stock option to acquire 280,000 common shares of the Company at an exercise price of $0.25 per share expiring September 28, 2012.
About Seafield Resources Ltd.
Seafield Resources Ltd. is a precious metals exploration company with assets located in Colombia, Mexico and Ontario. The Company's flagship project in Columbia is the Quinchia Gold Project, which contains a 43-101 compliant resource of 778,000 ounces gold.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of commodities, general market conditions, risks inherent in exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The Company relies on litigation protection for forward looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Seafield Resources Ltd.
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