TORONTO, ONTARIO -- (Marketwire) -- 01/08/13 -- Seafield Resources Ltd. ("Seafield" or "the Company") (TSX VENTURE: SFF) is pleased to announce the appointment of Richard Niels to its technical team as Senior Project Geologist for the Quinchia Gold Project, in the Department of Risaralda, Colombia. Mr. Niels will be responsible for leading the geological program at the Company's Miraflores Deposit, as the Company progresses the deposit toward feasibility. Mr. Niels will also lead the Company's current geological exploration program on the Tesorito target, as well as other future exploration opportunities.
Mr. Niels brings over 30 years of experience in mineral exploration, development and project management. He most recently worked with CuOro Resources Corp., where he served as an Exploration Manager overseeing gold and silver exploration in Colombia. Prior to this, Mr. Niels spent 5 years with Hunter Dickinson working as a Senior Geologist and Exploration Manager for a number of different projects in North and Central America, including the underground development of a VMS deposit in Mexico. He also worked with Fortuna Silver, where he served as the Manager of Geology responsible for exploration and mine development. He holds a Bachelor of Science degree in Geology from Lakehead University and is registered as a P.Geo (Ltd).
"We are excited to have Richard join our team in Colombia," commented Seafield's CEO, Cesar Lopez. "His extensive knowledge of mine operations and proven track record of exploration geology is a welcomed addition to our technical team and he will be instrumental in completing the feasibility study at Miraflores and helping grow the Company."
Seafield would also like to announce that Elina Chow has resigned as the Company's VP of Corporate Development to pursue other opportunities, effective today. Seafield would like to thank Ms. Chow for her contributions and wishes her the best in her future endeavours.
About Seafield Resources Ltd.
Seafield Resources Ltd. (TSX VENTURE: SFF) is a mineral exploration company currently focused on advancing its Miraflores Gold Deposit towards feasibility level. Seafield's 6,757-hectare Quinchia Gold Project is located in the Department of Risaralda of Colombia. SRK Consulting Inc's (Denver) Preliminary Economic Assessment on the Miraflores Deposit indicates robust economics with a pre-tax internal rate of return of 50% and a pre-tax net present value (8%) of $249M (see corporate PEA presentation at http://bit.ly/MFeL7q). Miraflores currently has a NI 43-101 compliant Measured and Indicated resource estimate of 1,925,542 ounces gold at 0.8 g/t Au (77Mt at a cut-off of 0.3 g/t Au) and an Inferred resource estimate of 103,043 ounces gold at 0.6 g/t Au (5.5Mt at a cut-off of 0.3 g/t Au). Additionally, the Company has a NI 43-101 compliant resource estimate for its Dosquebradas Deposit, also part of the Quinchia Gold Project, with an Inferred resource estimate totalling 920,772 ounces gold at 0.5 g/t Au (57Mt at a cut-off of 0.3 g/t Au). Seafield Resources Ltd. trades its shares on the Toronto Venture Exchange (TSX-V) under the symbol SFF and in the United States using CUSIP 81173R101. For more details on the Company, 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) 361-3434 ext. 202
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