Playfair Announces $1 Million Flow-Through Financing-Proceeds to Be Used for Drilling at Seal Lake

Playfair Mining (TSX VENTURE:PLY) is pleased to announce a non-brokered private
placement equity financing for proceeds of up to $1 million. The funds will be
raised by the issuance of 10 million flow-through shares at 10 cents per share,
subject to TSX approval. A finder's fee may be paid. These funds will be used to
commence drilling of Playfair's 100% owned Seal Lake Kupferschiefer district, a
region of widespread strata-bound sediment-hosted copper mineralization with at
least two drill targets already identified.


"Playfair's strategy is to build a robust land portfolio that leverages the
current strength in commodity prices and rising demand for certain commodities,
particularly in growing economies such as China. The acquisition and planned
exploration of Seal Lake fits within this strategy," said Don Moore, Chairman of
Playfair Mining. 


Playfair is nearing completion of its review and compilation of the extensive
historical technical data on its highly prospective copper silver Kupferschiefer
Seal Lake project. Previous work has defined about 260 copper/silver occurrences
in the Seal Lake basin, an area of about 35 by 5 kilometers, comparable in size
with other well-known Kupferschiefer districts such as Hana Mining's Ghanzi in
Botswana which is reported to contain an inferred NI 43-101 compliant resource
of 93.2 million tonnes at 1.50 per cent copper and 18 grams per tonne silver, at
a 0.75 per-cent copper cut-off.


The main focus of Playfair's initial drilling will be the Adeline Island and
Ellis showings which occur at the same stratigraphic horizon, but 6 kilometers
apart. The showings were last drilled in 1956 and the core is preserved in the
Newfoundland and Labrador Government core storage facility in Goose Bay,
Labrador. A recent review of this drill core by Playfair personnel has confirmed
that the mineralization and host rocks are essentially identical visually, even
though they are separated by 6 kilometers. The mineralized horizon is poorly
explored in the intervening 6 kilometers and rarely outcrops although its
location can be projected from previous detailed geological and geophysical
work. 


Playfair has confirmed the viability of a fall and winter drilling program and
has experienced drilling contractors familiar with Seal Lake, available to
commence the drilling program. 


Drill crews will be mobilized shortly after completion of the current
flow-through financing.


ON BEHALF OF THE BOARD 

D. Neil Briggs, Director