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SFF

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Share Name Share Symbol Market Type
TSXV:SFF TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Seafield Drills 159.7 m at 1.66 g/t Au and 2.52 g/t Ag, Including 21 m at 4.46 g/t Au and 5.96 g/t Ag

04/03/2013 11:57am

Marketwired Canada


Seafield Resources Ltd. ("Seafield" or "the Company") (TSX VENTURE:SFF) is
pleased to announce assay results from 7 additional drill holes completed as
part of the ongoing 6,800-metre infill diamond drilling program at the Company's
Miraflores Deposit in the Quinchia District, Department of Risaralda, Colombia.


Highlights:



--  Drill hole QM-DH-54 intersected 159.7 m at 1.66 g/t Au and 2.52 g/t Ag,
    including 21 m at 4.46 g/t Au and 5.96 g/t Ag, 27.25 m at 3.41 g/t Au
    and 2.15 g/t Ag, and 12 m at 1.42 g/t Au and 1.79 Ag;

--  Drill hole QM-DH-57 intersected 193.95 m of 0.94 g/t Au and 1.41 g/t Ag,
    including, 20.15 m of 1.89 g/t Au and 2.12 g/t Ag and 11.4 m at 3.17 g/t
    Au and 1.63 g/t Ag;

--  Drill hole QM-DH-58 intersected 144.55 m at 0.96 g/t Au and 1.25 g/t Ag,
    including 42.3 m at 1.42 g/t Au and 2.02 g/t Ag;

--  Drill hole UM-DH-002 intersected 114.3 m at 1.33 g/t Au and 1.25 g/t Ag,
    including 10.2 m at 4.02 g/t Au and 1.43 g/t Ag and 19.9 at 2.97 g/t Au
    and 2.5 g/t Ag.



Details: 

These results are from seven diamond drill holes totaling 1,779.7 metres. Since
November 2012, Seafield has completed 4,925.4 metres of the infill drilling
program (See Figure 1). The Miraflores deposit is a cylindrical shaped breccia
body measuring 280m by 250m, which contains disseminated mineralization and a
set of high grade veins, extending from surface to at least 600m depth. These
drill holes confirm the continuity of gold and silver mineralization outlined to
date throughout the breccia and in the high grade veins. 


Table 1 below summarizes the gold and silver assay results of the seven diamond
drill holes.


Table 1 - Drill Results:



Drill Hole                          From       To Interval       Au       Ag
                                     (m)      (m)      (m)    (g/t)    (g/t)
----------------------------------------------------------------------------
QM-DH-54                            34.5    101.9     67.4     0.91     0.96
and                                107.3      267    159.7     1.66     2.52
including                          123.9    144.9       21     4.46     5.96
including                         161.85    189.1    27.25     3.41     2.15
including                          230.2    242.2       12     1.42     1.79
QM-DH-56                             0.0    54.65    54.65      0.7     0.85
and                                71.70    102.2     30.5      0.4      0.6
QM-DH-57                           25.55     34.4     8.85     0.47     0.69
and                                 40.1    59.25    19.15     0.35     0.74
and                                 67.3    100.4     33.1     0.57     1.22
and                               106.05      300   193.95     0.94     1.41
including                          146.6    162.2       16     1.22     1.27
including                         186.15    206.3    20.15     1.89     2.12
including                          219.6      231     11.4     3.17     1.63
including                          253.6    275.6       22     1.02     1.98
QM-DH-58                            43.3    103.8     60.5      0.5     1.11
and                                113.7   258.25   144.55     0.96     1.25
including                          137.4    142.1      4.7     3.57     3.44
including                          155.4    197.7     42.3     1.42     2.02
including                            238    251.6     13.6     1.65     1.23
QM-DH-60                           136.9    173.7     36.8     0.28     0.73
and                                181.7   318.20    136.5     0.53     1.41
including                         219.20    245.6     26.4     0.83     1.25
including                          255.6   286.15    30.55     0.73     1.99
and                               324.80    350.0     25.2     0.49     1.42
UM-DH-002                            1.8     19.9     18.1     0.79     1.21
and                                 35.3    149.6    114.3     1.33     1.25
including                           63.1     73.3     10.2     4.02     1.43
including                           82.8    102.7     19.9     2.97      2.5
and                               155.85    201.8    45.95     0.59     2.03
and                                207.8    227.8       20     0.45     1.04
UM-DH-003                          11.25       91    79.75     0.73     1.83
including                             56     72.1     16.1     1.67     2.75
and                               162.75   198.85     36.1     0.94     1.32
----------------------------------------------------------------------------
                                                                            



Note: Only continual intervals of mineralization above 6 metres with a cut-off
grade of 0.2 g/t Au are reported. Gold grades reported are cut to 20 g/t. Hole
UM-DH-002 includes a sample of 35.4 g/t Au over 1.1 m, and a sample of 38.7 g/t
Au over 2.05m


Table 2 - Drill Hole Coordinates:



                 Easting  Northing Elevation     Azimuth   Inclination Depth
Drill Hole           (m)       (m)       (m)    (degrees)    (degrees)   (m)
----------------------------------------------------------------------------
QM-DH-54         423,093   585,121     1,451          259          -58 267.0
QM-DH-56         423,022   585,079     1,485          260          -49 112.2
QM-DH-57         423,122   585,202     1,453          252          -56 300.0
QM-DH-58         423,063   585,235     1,490          240          -55 300.5
QM-DH-60         423,191   585,177     1,418          266          -58 350.0
UM-DH-002(i)     423,108   585,059     1,365          257          -45 230.0
UM-DH-003(i)     423,124   585,098     1,365          259          -26 220.0
----------------------------------------------------------------------------



(i) Holes drilled from pads constructed inside the La Cruzada Tunnel in Miraflores.

The azimuth, dip and total length of each drill hole is shown in Table 2. Except
drill hole QM-DH-60 that was collared outside of the breccia to the East, all
the holes started inside the body of the breccia, including UM-DH-002 and
UM-DH-003 that were drilled from stations inside the La Cruzada tunnel. Figure 1
shows the plan view with the location of the seven infill drill holes and the
vertical sections for each hole are shown in Figures 2 to 8 (see below).


The ongoing infill drilling program will be completed by the end of Q1 2013.
Seafield will update the 3D geological model and NI 43-101 compliant resource
estimate during Q2 2013, incorporating the results of this infill drill program.



In March 2013, Seafield will commence an initial drill program of 1,500 metres
at the Tesorito prospect, where the company has carried out detailed geological
mapping, geochemical soil sampling, rock sampling in outcrops and in trenches,
and induced polarization surveys. 


"The assays reported in this press release continue to highlight significant
intercepts of gold and silver mineralization at Miraflores and we are looking
forward to completing the resource update by the end of Q2 2013." commented
Cesar Lopez, Seafield's President and CEO. "Having secured the full funding for
the Quinchia Project into 2014, there are a lot of positive prospects for the
Company as we progress towards feasibility."


Seafield's Miraflores Deposit is situated in the Company's 100%-owned,
6,757-hectare, Quinchia Gold Project. Miraflores is a low sulphidation
epithermal deposit located in Colombia's mineral-prolific Mid-Cauca gold belt.
The deposit's mineralization is characterized by a hydrothermal breccia pipe
with free gold associated with cement materials (the matrix) and high grade
structures where gold is associated with zinc, lead, copper and iron. At
surface, the breccia pipe has a drill-tested diameter of 250 metres by 280
metres. The breccia pipe widens and remains open at depth with a drill-tested
vertical extent of 600 metres.


To view "Figure 1 - Plan View of Miraflores Deposit," please visit the following
link: http://media3.marketwire.com/docs/Plan_View_1300m.pdf.


To view "Figure 2 - Vertical Section of Miraflores Deposit - Hole QM-DH-54,"
please visit the following link:
http://media3.marketwire.com/docs/Vert_Section_QM_DH_54.pdf.


To view "Figure 3 - Vertical Section of Miraflores Deposit - Hole QM-DH-56,"
please visit the following link:
http://media3.marketwire.com/docs/Vert_Section_QM_DH_56.pdf.


To view "Figure 4 - Vertical Section of Miraflores Deposit - Hole QM-DH-57,"
please visit the following link:
http://media3.marketwire.com/docs/Vert_Section_QM_DH_57.pdf.


To view "Figure 5 - Vertical Section of Miraflores Deposit - Hole QM-DH-58,"
please visit the following link:
http://media3.marketwire.com/docs/Vert_Section_QM_DH_58.pdf.


To view "Figure 6 - Vertical Section of Miraflores Deposit - Hole QM-DH-60,"
please visit the following link:
http://media3.marketwire.com/docs/Vert_Section_QM_DH_60.pdf.


To view "Figure 7 - Vertical Section of Miraflores Deposit - Hole UM-DH-002,"
please visit the following link:
http://media3.marketwire.com/docs/Vert_Section_UM_DH_002.pdf.


To view "Figure 8 - Vertical Section of Miraflores Deposit - Hole UM-DH-003,"
please visit the following link:
http://media3.marketwire.com/docs/Vert_Section_UM_DH_003.pdf.


Review by Qualified Person, Quality Control and Reports

Giovanny Ortiz, Vice President of Exploration for Seafield Resources Ltd., is a
qualified person as defined by National Instrument 43-101 and prepared or
reviewed the preparation of the scientific and technical information in this
press release with respect to the assay results from the drilling program. Mr.
Ortiz is a Fellow of the Australasian Institute of Mining and Metallurgy
(Membership # 304612) a professional association and designation recognized by
the Canadian regulatory authorities. Mr. Ortiz verified the data disclosed in
this release, including the sampling, analytical and test data underlying the
information contained in this release. Verification included a review and
validation of the applicable assay databases and reviews of assay certificates.


The core samples were split by rock saw, and half of the core was sampled. Core
samples were prepared by ALS Colombia Ltd., in Medellin and were assayed at the
ALS laboratory in Lima, Peru. Gold was analyzed by fire assay on a 30 gram
sample with atomic adsorption spectrophotometer (AAS) finish. Samples above 10.0
g/t Au were repeated by fire assay on a 30 gram sample with gravimetric finish.
Multi-elements were analyzed by inductively coupled plasma mass spectroscopy
(ICP-MS) following multi-acid digestion. Blank, standard and duplicate samples
were routinely inserted for quality assurance and quality control.


For additional technical information on the Miraflores Deposit, please refer to
the Company's technical report (the "Technical Report") entitled "Technical
Report, Seafield Resources Ltd., Quinchia Project, Quinchia District, Republic
Colombia" dated January 31, 2012, prepared by Scott E. Wilson, C.P.G., of Scott
E. Wilson Consulting, Inc., available on SEDAR at www.sedar.com and on the
Company website at www.sffresources.com.


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.


Forward-Looking Statement

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.



FOR FURTHER INFORMATION PLEASE CONTACT: 
Seafield Resources Ltd.
David MacMillan
Investor Relations
(416) 361-3434 ext. 202
dmacmillan@sffresources.com
www.sffresources.com

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