Seafield Resources Ltd.

Seafield Resources Ltd.

December 13, 2007 11:59 ET

Seafield Increases Financing, Confirms Stock Options

TORONTO, ONTARIO--(Marketwire - Dec. 13, 2007) - Seafield Resources Ltd. (TSX VENTURE:SFF)("Seafield" or the "Company"), is pleased to announce that, due to strong investor interest, the Company will increase the proposed flow-through financing and issue up to 5 million flow-through common shares at $0.35 for gross proceeds of $1,750,000.

The non flow-through offering has also been increased and the Company now plans to issue up to 3,000,000 units at $0.25 for gross proceeds of $750,000. Each unit will consist of one common share and one half of one common share purchase warrant exercisable for 12 months at $0.30. Seafield may pay finder's fees in connection with these financings.

In addition the Company announces that a total of 800,000 options to purchase common shares of the Company has been granted to directors, officers and consultants as set out in a press release dated December 10, 2007, expiring on December 10, 2012. The grant of options is subject to regulatory approval.

No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of this news release. This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. 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. 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. The Company relies on litigation protection for forward looking statements.

Contact Information

  • Seafield Resources Ltd.
    Anthony Roodenburg
    President & CEO
    (416) 367-4571 x 233