Seafield Updates NI 43-101 Compliant Resource Estimate at the Miraflores Deposit, Colombia

Seafield Resources Ltd. ("Seafield" or "the Company") (TSX VENTURE:SFF) is
pleased to announce an updated NI 43-101 compliant resource for its Miraflores
breccia deposit within the Company's Quinchia Gold and Silver Project.
Seafield's 100%-owned, 6,757-hectare Quinchia Gold Project is located in the
Department of Risaralda, Colombia. This update incorporates an additional
10,725.3 m of drilling for a total of 25,884.1 m used in the resource estimate
(see previous NI 43-101 resource press release dated January 31, 2012). These
results will be incorporated into the updated Preliminary Economic Assessment,
scheduled for completion by the end of Q2 2013.


Highlights



--  The updated NI 43-101 report documents a measured and indicated resource
    of 1,816,000 Troy ounces (oz) of gold (Au) grading 0.78 grams per tonne
    ("g/t") Au and 3,555,000 oz of silver at 1.5 g/t Ag, contained in
    72,624,000 tonnes at a cut-off grade of 0.27 g/t Au; 
--  The estimate significantly increases the geological confidence in the
    model by increasing the mineral resources in the measured category from
    28.5 Million tonnes to 38.7 Million tonnes and by delineating a greater
    number of high grade veins at Miraflores. The presence of 21 veins cross
    cutting the breccia body was confirmed, further improving the definition
    of the mineralization in the breccia and adjoining basalt. This more
    accurate geological model of the deposit will be used for advanced
    mining studies; 
--  A very robust geostatistical analysis was carried out to define
    estimation parameters, which resulted in a capping of higher gold grades
    at 45 g/t Au in the breccia and individual analysis in the veins ranging
    up to 24 g/t Au; 
--  The estimate has been delivered on time in accordance with the project
    schedule and as communicated in the "Miraflores Technical Update" (see
    press release dated November 30, 2012).



"I am pleased to present the updated compliant resource which has increased the
confidence in the geological model while maintaining the vast majority of our
resource ounces and increasing the overall grade. This solid resource estimate
will stand up to all future reviews as we move the Miraflores project forward,"
commented Seafield's COO, Dave Prins.  


"The Company is focused on adding intrinsic value to its Quinchia Project and
every announcement further demonstrates our success," commented Seafield's CEO,
Cesar Lopez. "Seafield will stand out amongst other junior mining companies as
we continue to announce the completion of milestones over the coming months
towards a definitive feasibility study."


The revised NI 43-101 resource incorporated 25,884.1 m of drilling in 73
exploration drill holes and 235.8 m of channel sampling from one underground
cross-cut. This is 10,725.3 m more than the drilling metres used in the
previously reported NI 43-101 resource study (see press release, January 31,
2012). 


The new drill data used for the resource update are mostly from infill holes and
provide information to obtain a robust 3D geological model, improving the
confidence in the geometry and distribution of the high grade and low grade
mineralization of gold and silver in the breccia body.


MEASURED & INDICATED MIRAFLORES RESOURCES



----------------------------------------------------------------------------
                                 MEASURED RESOURCES                         
----------------------------------------------------------------------------
                                                             Gold       Gold
CUTOFF               Gold             Silver    Silver Equivalent Equivalent
 Gold     TONNES    Grade Gold (oz)    Grade      (oz) Grade (g/t       (oz)
 (g/t) ((i)1000) (g/t Au) ((i)1000) (g/t Ag) ((i)1000)      AuEq)  ((i)1000)
----------------------------------------------------------------------------
0.20      50,639     0.57       928      1.3     2,116       0.59        958
----------------------------------------------------------------------------
0.25      41,877     0.65       875      1.4     1,831       0.67        902
----------------------------------------------------------------------------
0.27      38,747     0.68       847      1.4     1,732       0.70        872
----------------------------------------------------------------------------
0.30      34,333     0.73       806      1.4     1,578       0.75        829
----------------------------------------------------------------------------
0.40      22,617     0.93       676      1.6     1,149       0.95        693
----------------------------------------------------------------------------
0.50      15,697     1.14       575      1.7       873       1.16        588
----------------------------------------------------------------------------
0.60      11,225     1.38       498      1.9       678       1.41        508
----------------------------------------------------------------------------
0.70       8,451     1.61       437      2.0       535       1.64        445
----------------------------------------------------------------------------
0.80       6,521     1.87       392      2.1       432       1.90        398
----------------------------------------------------------------------------
0.90       5,166     2.14       355      2.2       357       2.17        361
----------------------------------------------------------------------------
1.00       4,169     2.43       326      2.2       300       2.46        330
----------------------------------------------------------------------------
                                INDICATED RESOURCES                         
----------------------------------------------------------------------------
                                                             Gold       Gold
CUTOFF               Gold             Silver    Silver Equivalent Equivalent
 Gold     TONNES    Grade Gold (oz)    Grade      (oz) Grade (g/t       (oz)
 (g/t) ((i)1000) (g/t Au) ((i)1000) (g/t Ag) ((i)1000)      AuEq)  ((i)1000)
----------------------------------------------------------------------------
0.20      48,347     0.70     1,082      1.5     2,380       0.72      1,116
----------------------------------------------------------------------------
0.25      37,499     0.83     1,005      1.6     1,974       0.86      1,033
----------------------------------------------------------------------------
0.27      33,877     0.89       969      1.7     1,823       0.91        995
----------------------------------------------------------------------------
0.30      29,118     0.99       927      1.7     1,628       1.01        950
----------------------------------------------------------------------------
0.40      19,562     1.31       826      2.0     1,245       1.34        844
----------------------------------------------------------------------------
0.50      14,924     1.58       758      2.2     1,050       1.61        774
----------------------------------------------------------------------------
0.60      12,230     1.81       713      2.4       927       1.85        727
----------------------------------------------------------------------------
0.70      10,532     2.00       677      2.5       848       2.04        689
----------------------------------------------------------------------------
0.80       9,347     2.16       649      2.6       790       2.20        660
----------------------------------------------------------------------------
0.90       8,405     2.30       622      2.7       741       2.34        633
----------------------------------------------------------------------------
1.00       7,592     2.45       598      2.8       691       2.49        607
----------------------------------------------------------------------------
                           MEASURED + INDICATED RESOURCES                   
----------------------------------------------------------------------------
                                                             Gold       Gold
CUTOFF               Gold             Silver    Silver Equivalent Equivalent
 Gold     TONNES    Grade Gold (oz)    Grade      (oz) Grade (g/t       (oz)
 (g/t) ((i)1000) (g/t Au) ((i)1000) (g/t Ag) ((i)1000)      AuEq)  ((i)1000)
----------------------------------------------------------------------------
0.20      98,986     0.63     2,010      1.4     4,497       0.65      2,075
----------------------------------------------------------------------------
0.25      79,376     0.74     1,880      1.5     3,805       0.76      1,935
----------------------------------------------------------------------------
0.27      72,624     0.78     1,816      1.5     3,555       0.80      1,867
----------------------------------------------------------------------------
0.30      63,451     0.85     1,733      1.6     3,207       0.87      1,779
----------------------------------------------------------------------------
0.40      42,179     1.11     1,502      1.8     2,393       1.13      1,537
----------------------------------------------------------------------------
0.50      30,621     1.35     1,334      2.0     1,923       1.38      1,361
----------------------------------------------------------------------------
0.60      23,455     1.61     1,211      2.1     1,606       1.64      1,234
----------------------------------------------------------------------------
0.70      18,983     1.83     1,114      2.3     1,383       1.86      1,134
----------------------------------------------------------------------------
0.80      15,868     2.04     1,041      2.4     1,222       2.08      1,059
----------------------------------------------------------------------------
0.90      13,571     2.24       978      2.5     1,098       2.28        994
----------------------------------------------------------------------------
1.00      11,761     2.44       923      2.6       991       2.48        937
----------------------------------------------------------------------------



INFERRED MIRAFLORES RESOURCES



----------------------------------------------------------------------------
                                 INFERRED RESOURCES                         
----------------------------------------------------------------------------
                                                             Gold       Gold
CUTOFF               Gold             Silver    Silver Equivalent Equivalent
 Gold     TONNES    Grade Gold (oz)    Grade      (oz) Grade (g/t       (oz)
 (g/t) ((i)1000) (g/t Au) ((i)1000) (g/t Ag) ((i)1000)      AuEq)  ((i)1000)
----------------------------------------------------------------------------
0.20       7,383     0.37        88      1.9       444       0.40         94
----------------------------------------------------------------------------
0.25       4,218     0.48        65      2.2       296       0.51         69
----------------------------------------------------------------------------
0.27       3,756     0.51        62      2.3       275       0.54         66
----------------------------------------------------------------------------
0.30       3,031     0.57        56      2.4       235       0.60         59
----------------------------------------------------------------------------
0.40       1,872     0.71        43      3.0       181       0.75         45
----------------------------------------------------------------------------
0.50       1,643     0.74        39      3.2       171       0.79         42
----------------------------------------------------------------------------
0.60       1,461     0.77        36      3.5       162       0.82         39
----------------------------------------------------------------------------
0.70         342     1.14        13      3.8        42       1.19         13
----------------------------------------------------------------------------
0.80         260     1.27        11      4.3        36       1.33         11
----------------------------------------------------------------------------
0.90         212     1.37         9      5.0        34       1.44         10
----------------------------------------------------------------------------
1.00         182     1.43         8      5.5        32       1.51          9
----------------------------------------------------------------------------



Gold Equivalent (AuEq): Gold equivalent g/t has been calculated using long-term
prices for gold ($1,500/oz) and silver ($30/oz). Assumed metallurgical recovery
for gold of 90%, and assumed metallurgical recovery of silver of 80%. AuEq
Formula: AuEq g/t = Au g/t + (Ag g/t x (30 x 0.8 / 1500 x 0.9)) g/t. 


Resource Estimate

The resource was estimated using an updated 3D geologic and mineralization model
constructed using Leapfrog and Vulcan software that included the updating of the
breccia pipe structure, mineralized basalt and the definition of 21 mineralized
structures cross cutting the breccia. The input data consisted of 13,194,
two-metre length composites of gold and silver grades available as of March 10,
2013. 


The resource takes into account the tonnage and estimated amount of gold
extracted by the Asociacion de Mineros de Miraflores from la Cruzada tunnel and
a wireframe of the exploited area was used to discount the tonnage extracted. 


Resource Estimate Plan

The block model was constructed in Vulcan software using sub-cells of minimum
0.5 m and maximum 5 m x 5 m x 5m for the parent cell to fill the wireframes of
breccia, mineralized structures (veins), mineralized basalt and surface limit.
The raw data were composited to two-metre lengths down hole. New levels of
capping were defined based on statistical analysis of a significant sample of
data in the breccia, mineralized basalt, and for individual veins, with 45 g/t
Au in the breccia and individual veins varying up to 24 g/t Au. 


For veins, a search ellipse was used with dimensions 50 m x 50 m x 20 m oriented
according to the strike and dip of the veins. For breccia and mineralized
basalt, a search ellipse was used with dimensions 90 m x 53 m x 142 m. In veins,
the estimate used a minimum of 1 composite and maximum of 5, with no maximum
limit of samples per hole. In breccia and mineralized basalt, the estimate used
a minimum of 3 composites and a maximum of 10, with a maximum of 3 samples per
hole. 


To categorize the blocks, a combined strategy was applied, using quantity of
holes and distance used for estimation and visual evaluation of drilling
density. Only blocks of breccia and mineralized basalt were classified as
measured, considering that to categorize a block as measured, a minimum of 2
holes within a distance of 30 m are required. The blocks estimated using at
least 2 holes in a distance of 100 m were classified as indicated. The blocks in
veins estimated with the unique search ellipse of 50 m were categorized as
indicated. The blocks that do not accomplish the parameters described were
categorized as inferred.


A total of 2,100 specific gravity measurements were used to define the density
of each block. For blocks of basalt rock type a density of 2.87 tonnes / m3 were
used, for veins and breccia a density of 2.75 tonnes / m3, and 2.67 tonnes / m3
for saprolite.


Sample Preparation and QA/QC program

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 (before November 2013, SGS Colombia S.A. Laboratory
was used for preparation and SGS Peru for assaying). Gold was analyzed by fire
assay on a 30 gram sample with atomic adsorption spectrophotometer (AAS) finish.
Samples above 10 g/t Au were repeated by fire assay on a 30 gram sample with
gravimetric finish. Silver and other 47 elements were analyzed by inductively
coupled plasma mass spectroscopy (ICP-MS) following multi-acid digestion. A
program of metal screen analysis was carried out on 459 samples. This program
provided important information about the behavior of coarse gold in the deposit.
Blank, standard and duplicate samples were routinely inserted for quality
assurance and quality control, including second laboratory control. 


Ongoing Work Program 

Seafield has also commenced studies that include metallurgical test work,
hydrogeology, and geotechnical studies for pit, plant site and tailings disposal
facilities. 


Environmental baseline studies have been ongoing since January 2012. Seafield
expects that all baseline data required for submitting an Environmental Impact
Assessment to the Colombian authorities will be complete in Q3 2013, allowing
for an environmental permit submission in Q4 2013. 


Qualified Person 

Scott Wilson of Metal Mining Consultants Inc. of Englewood, Colorado prepared
the Miraflores Deposit resource estimate. The Company will file a NI 43-101
technical report in support of the technical information in this press release
within 45 days. 


Mr. Wilson is an independent qualified person as defined by National Instrument
43-101 and has prepared or reviewed the preparation of the information which
forms the basis of this press release. 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
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. 


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. The Company cautions that mineral resources that are not mineral reserves
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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Seafield Resources Ltd.
David MacMillan
Investor Relations
[phone] ext. 202
[e-mail]
www.sffresources.com