Seafield Resources Ltd.

Seafield Resources Ltd.

June 09, 2008 17:09 ET

Seafield Resources Ltd.-Drilling Begins at Elora High Grade Gold Project, Dryden Ontario

Magnetic and EM Surveys Completed Over "Ring of Fire" Property, Ontario Drilling Completed at Tango Property, Mexico - Assays Pending

TORONTO, ONTARIO--(Marketwire - June 9, 2008) - Seafield Resources Ltd. ("Seafield" or, the "Company")(TSX VENTURE:SFF), is pleased to announce that drilling is now underway at Seafield's Elora gold property near Dryden, Ontario. The program will follow up on earlier encouraging results on the Jubilee zone, including intersections of 15.3 g/t gold over 1.3 metres, 14.3 g/t gold over 5.6 m and 13.7 g/t gold over 2 metres, as well as test two new target areas. The company plans to drill approximately 3,000 metres.

At the Company's Fire project on the "Ring of Fire", McFauld's Lake area, James Bay Lowlands, Ontario, detailed helicopter-borne magnetic and EM surveys have been completed over the Fire claims approximately 60 km north of the Noront Resources Ltd. Eagle One high grade copper-nickel-PGE discovery. Seafield has an option from Noront to acquire a 50% interest in the Fire claims, comprising 96 claim units (3,840 acres) by making annual cash or share payments and spending $2.1 million over three years. The Company is awaiting a final report and recommendations for further work from Noront, the operator of the exploration program. The Fire claims are also located some 4 km east of the claim block where WSR Gold Inc., Metalex Ventures Ltd. and Arctic Star Diamond Corp. recently drilled several intersections up to 95 metres in length of base metal massive to semi-massive sulphides. Initial assays of this base metal mineralization are currently pending.

In Mexico, Seafield recently completed a reconnaissance RC drill program of 1,746 metres in 14 holes on several targets on the Tango property with assay results pending. Earlier work on the Tango property defined a large gold anomaly in stream sediments covering roughly 27 square kilometres in the tributaries of the El Placer River.

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.

No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Seafield Resources Ltd.
    Anthony Roodenburg
    President & CEO
    (416) 367-4571 x233