Jul. 11, 2011 (Marketwire Canada) --
TORONTO, ONTARIO -- Seafield Resources Ltd. ("Seafield" or the "Company") (TSX VENTURE:SFF) is pleased to announce that a National Instrument 43-101 compliant report dated July 8, 2011 has been filed in support of the May 26, 2011 press release outlining the updated resource estimate at the Company's Miraflores Project. The NI 43-101 compliant resource includes a Measured and Indicated resource of 1.2 Million ounces gold grading 0.9 g/t Au (44.7 Million tonnes at a cut-off of 0.3 g/t Au) and an Inferred resource of 354,512 ounces gold grading 0.9 g/t Au (12.2 Million tonnes at a cut-off of 0.3 g/t Au). The report has been filed with SEDAR and is available on their website at www.sedar.com.
Cesar Lopez, President and CEO of Seafield Resources stated, "The mineral resource estimate establishes a significant foundation for the development of our Quinchia Project, which we believe will continue to expand with the 2011 drilling program and future phases of exploration. In addition, the scoping study recently commissioned to SRK will improve our geological and technical knowledge of the deposit."
Scott Wilson of Scott E. Wilson Consulting, Inc. of Englewood, Colorado prepared the Miraflores Project resource estimates. Mr. Wilson is an independent qualified person as defined by National Instrument 43-101. He is a Certified Professional Geologist and member of the American Institute of Professional Geologists (CPG #10965) and a Registered Member (#4025107) of the Society of Mining and Metallurgy and Exploration, Inc., a professional association and designation recognized by the Canadian regulatory authorities. Mr. Wilson verified the data disclosed in this report, including the sampling, analytical and test data underlying the information contained in this report. Verification included a review and validation of the applicable assay databases and reviews of assay certificates.
Seafield Resources Ltd. is a mineral exploration company focused on acquiring and advancing precious metals projects in Colombia. Seafield's flagship Quinchia project is located in the prolific Mid-Cauca gold belt with a land position spanning 6,757 hectares. For more details, please visit www.sffresources.com
This news release includes certain "forward looking statements" within the meaning of that phrase under Canadian securities laws. 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. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. 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. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. 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.
416-367-4571 ext. 226