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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 Files Updated NI 43-101 PEA Technical Report for the Quinchia Project

02/08/2013 5:38pm

Marketwired Canada


Seafield Resources Ltd. ("Seafield" or "the Company") (TSX VENTURE:SFF) is
pleased to announce that a National Instrument 43-101 compliant technical report
titled "NI 43-101 Technical Report, Preliminary Economic Assessment, Miraflores
Property, Quinchia District, Colombia," dated August 2, 2013 has been filed in
support of the June 19, 2013 press release outlining the updated Preliminary
Economic Assessment at the Company's Miraflores Deposit. The updated PEA was
completed by SRK Consulting, (U.S.), Inc.


The report is available on SEDAR and the Company's website at www.sffresources.com.

Updated PEA Contributions and Qualified Persons

The updated PEA has been prepared in accordance with the Standards of Disclosure
for Mineral Projects as defined by National Instrument 43-101 of the Canadian
Securities Administrators. The technical information relating to the updated PEA
has been reviewed and approved by Eric Olin, MSc, MBA, SME-RM (SRK Consulting),
John Tinucci, PhD, PE (SRK Consulting), Bret Swanson, BEng Mining, MAusIMM,
MMSAQP (SRK Consulting), Joanna Poeck, BEng Mining, MMSA (SRK Consulting), Mark
Willow, MSc, CEM, SME-RM (SRK Consulting), and Scott E. Wilson, CPG (Metal
Mining Consultants), the Qualified Persons responsible for preparation of the
updated PEA, each of whom have verified the technical data and assumptions in
the Technical Report and are independent of Seafield Resources Ltd.


About Seafield Resources Ltd.

Seafield Resources Ltd. (TSX VENTURE:SFF) is a development stage company
currently focused on completing a bankable feasibility study on its Miraflores
Gold Deposit. Seafield's 6,757-hectare Quinchia Gold Project is located in the
Department of Risaralda, 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 23% and a pre-tax net present value (5%) of
$141M. The Company cautions that mineral resources are not mineral reserves and
do not have demonstrated economic viability. Miraflores currently has a NI
43-101 compliant Measured and Indicated resource estimate of 1,816,000 ounces
gold at 0.78 g/t Au and 3,555,000 ounces silver at 1.5 g/t Ag (72.6 million
tonnes at a cut-off of 0.27 g/t Au) and an Inferred resource estimate of 62,000
ounces gold at 0.51 g/t Au and 275,000 ounces silver at 2.3 g/t Ag (3.8 million
tonnes at a cut-off of 0.27 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 totaling 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 TSX 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.


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.


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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