Seafield Resources Ltd.

Seafield Resources Ltd.

March 31, 2006 11:31 ET

Seafield Plans Private Placement

TORONTO, ONTARIO--(CCNMatthews - March 31, 2006) - Seafield Resources Ltd. ("Seafield" or, the "Company")(CNQ:SEAF), plans to issue 1,000,000 units in a non brokered private placement for gross proceeds of $300,000. Each unit will consist of one common share and one half of one common share purchase warrant. Each whole warrant will be exercisable at $0.45 for 18 months. Finders' fees may be paid in connection with this financing.

Proceeds will be applied to working capital and to advance Seafield's gold exploration assets in Canada and Mexico.

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 mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

Contact Information

  • Seafield Resources Ltd.
    Anthony Roodenburg
    (416) 485-1327