Silver Fields Resources Inc.
TSX VENTURE : SF
FRANKFURT : RLQ

Silver Fields Resources Inc.

August 16, 2011 04:00 ET

Silver Fields Announces Keremeos Project Assays

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 16, 2011) - Silver Fields Resources Inc. (TSX VENTURE:SF)(FRANKFURT:RLQ) (the "Company") ("Silver Fields") is pleased to report the following assays from the Company's project located at the Horn Silver property east of Keremeos, B.C.

Sample No. Au g/t Au opt Ag g/t Ag opt Width (m )
Silver Dart 1 0.96 0.028 734 21.41 0.6
Silver Dart 2 2.02 0.059 883 25.75 0.7
Silver Dart 3 1.19 0.035 956 27.88 0.4
Silver Dart 4 1.47 0.043 125 3.65 0.4
Silver Dart 5 5.69 0.166 872 25.4 0.4
Silver Dart 6 0.36 0.010 937 27.33 0.5
Silver Dart 7 0.32 0.009 547 15.95 0.5
Silver Dart 8 0.18 0.005 91 2.65 0.4
Cow Trail 1 3.67 0.107 996 29.05 0.12
Cow Trail 2 6.21 0.181 1603 46.75 0.11
Cow Trail 3 5.46 0.159 1625 47.40 0.15
Cow Trail 4 0.04 0.001 12 0.35 0.12
Cow Trail 5 0.96 0.028 200 5.83 0.05
Cow Trail 6 0.14 0.004 51 1.49 0.08
Cow Trail 7 0.13 0.004 73 2.13 0.18
Cow Trail 8 0.75 0.022 142 4.14 0.2
Cow Trail 9 0.85 0.025 186 5.43 0.15
1 troy ounce per short ton = 34.2857 grams per metric tonne

The first 8 results sampled a flat vein within and near to an adit historically named the "Silver Dart" which is in steep terrain about 400 metres vertically above, and about 400 metres horizontally east from the productive area of the Horn Silver Mine (known more recently as the Dankoe Mines property). Silver Fields geological staff has been unable to find any historical data for this 21 metre long adit and the area has never been drilled. The "Cow Trail" samples were taken from a newly discovered quartz vein and are located at least 1,100 metres from any productive mine workings. This vein is intermittently exposed for a distance exceeding 40 metres and could not be followed further in this direction because of heavy overburden. The discovery of previously unknown silver-gold mineralization, such a large distance from the old mine, suggests that the productive mineralizing system may be far more extensive than previously thought. The sample widths noted are true vein widths and the chip sampling was done by Peter G. Folk, P. Eng., an independent Qualified Person as defined in NI 43-101.

Results from a soil sample survey consisting of 333 samples have been received. Various anomalies have been recognized and will be subjected to further sampling and field examination in the coming weeks. The results of a one km2 mag-vlf survey have also been received and this datais being analyzed.

Technical material in this news release has been prepared and/or reviewed by Peter Folk, P.Eng., a Qualified Person as defined in NI 43-101. Analyses quoted here were performed for Silver Fields Resources Inc. by Acme Analytical Laboratories, Vancouver B.C. using fire assay techniques with a gravimetric finish on a 30 gram charge.

On behalf of the Board of Directors

Chris England, President and CEO

Silver Fields Resources Inc.

Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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