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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 Intercepts Higher Grades in Last 4 Holes of In-Fill Program at Miraflores

21/03/2013 11:30am

Marketwired Canada


Seafield Resources Ltd. ("Seafield" or "the Company") (TSX VENTURE:SFF) is
pleased to announce assay results from the final four drill holes completed as
part of the 6,532.7-metre in-fill diamond drilling program at the Company's
Miraflores Deposit in the Quinchia District, Department of Risaralda, Colombia.


Highlights:



--  Drill hole QM-DH-52 intersected 174.05 m at 1.15 g/t Au and 1.63 g/t Ag,
    including 59.95 m at 2.33 g/t Au and 2.62 g/t Ag; 
    
--  Drill hole UM-DH-004 intersected 111.4 m at 1.52 g/t Au and 2.1 g/t Ag,
    including 23.4 m at 3.91 g/t Au and 3.22 g/t Ag; 
    
--  Drill hole UM-DH-005 intersected 81 m at 1.93 g/t Au and 1.26 g/t Ag,
    including 17.65 m at 5.35 g/t Au and 2.18 g/t Ag. 



Details:

The results released correspond to four additional diamond drill holes,
representing 1,621.5 metres. The infill drilling program commenced in November
2012 and has been completed with 27 drill holes totaling 6,532.7 metres (See
Figure 1). Gold and silver mineralization has been intercepted in the four holes
reported, which tested horizontal and vertical continuity near surface and
deeper mineralization in the breccia pipe and within the high grade veins
present in the deposit.


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




                                                                            
Table 1 - Drill Results:                                                    
                                                                            
Drill Hole                  From         To   Interval         Au         Ag
                             (m)        (m)        (m)      (g/t)      (g/t)
----------------------------------------------------------------------------
QM-DH-52                    13.4      27.35      13.95       0.41       0.89
And                         80.9      137.8       56.9       0.36       1.16
And                        140.9      181.1       40.2       1.03       1.38
And                        183.6     254.65      71.05       1.07       2.42
And                       256.25      430.3     174.05       1.15       1.63
including                 258.25      318.2      59.95       2.33       2.62
And                        480.3      491.7       11.4       0.41       1.16
QM-DH-55                     136      199.7       63.7       0.66       1.11
And                        221.2      256.8       35.6       0.40       1.16
And                          261      284.3       23.3       2.08       1.55
And                        312.5      324.5         12       0.45       0.75
And                        340.5        364       23.5       0.32       0.68
And                        401.9      419.4       17.5       0.35       0.73
UM-DH-004                      6       21.6       15.6       0.53       1.28
And                         29.6        141      111.4       1.52        2.1
including                  113.6        137       23.4       3.91       3.22
And                          149        167         18       1.76       3.34
And                        199.6      214.3       14.7       0.53       0.95
And                          224      270.8       46.8       1.21       1.07
including                  231.4      252.2       20.8       2.39       1.47
UM-DH-005                   5.45         15       9.55       0.45       1.12
And                           21       45.5       24.5       1.23       1.05
And                           51        132         81       1.93       1.26
including                  101.1     118.75      17.65       5.35       2.18
And                        186.5      203.5         17        0.4       0.75
And                        235.5      249.5         14       0.51       1.11
----------------------------------------------------------------------------



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
QM-DH-52 includes a sample of 49.6 g/t Au over 1.5 m and a sample of 181.0 g/t
Au over 2.0 m, Hole QM-DH-55 includes a sample of 26.4 g/t Au over 1.6 m, Hole
UM-DH-004 includes a sample of 21.8 g/t Au over 1.5 m, and Hole UM-DH-005
includes a sample of 43.5 g/t Au over 2.0 m.




                                                                            
Table 2 - Drill Hole Coordinates:                                           
                                                                            
Drill Hole          Easting   Northing Elevation   Azimuth Inclination Depth
                        (m)        (m)       (m) (degrees)   (degrees)   (m)
----------------------------------------------------------------------------
QM-DH-52          423,175.7  585,132.7    1407.7       252         -56 500.0
QM-DH-55(ii)        423,059    585,240     1,491       245         -73 518.5
UM-DH-004(i)        423,124    585,098     1,365       255         -50 285.0
UM-DH-005(i)        423,139    585,058     1,364       247         -32 318.0
----------------------------------------------------------------------------
(i)   Holes drilled from pads constructed inside the La Cruzada Tunnel in   
      Miraflores.                                                           
(ii)  The final 95.2 m of core from hole QM-DH-55 were reserved for         
      geotechnical testing and therefore were not assayed.                  



The azimuth, dip and total length of each drill hole is shown in Table 2. Holes
QM-DH-52 and QM-DH-55 were collared inside the breccia. UM-DH-004 and UM-DH-005
were drilled from chambers inside the La Cruzada tunnel, inside the beccia pipe.


Figure 1 illustrates a plan view with the location of each hole, and the
vertical sections for each hole are shown in Figures 2-5 (see below).


"We are pleased to announce the final assay results from the drill program at
Miraflores," commented Cesar Lopez, Seafield's President and CEO. "All of the
reported assay results will be incorporated into an updated resource estimate
which we expect during Q2 2013. Seafield continues to complete the necessary
work at Miraflores on schedule and we are excited about the further development
of the deposit."


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/fig1sff.pdf.


To view "Figure 2 - Vertical Section of Miraflores Deposit - Hole QM-DH-52",
please visit the following link: http://media3.marketwire.com/docs/fig2sff.pdf.


To view "Figure 3 - Vertical Section of Miraflores Deposit - Hole QM-DH-55",
please visit the following link: http://media3.marketwire.com/docs/fig3sff.pdf.


To view "Figure 4 - Vertical Section of Miraflores Deposit - Hole UM-DH-004",
please visit the following link: http://media3.marketwire.com/docs/fig4sff.pdf.


To view "Figure 5 - Vertical Section of Miraflores Deposit - Hole UM-DH-005",
please visit the following link: http://media3.marketwire.com/docs/fig5sff.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. 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 1,925,542 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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