Silver Fields Resources Inc.

Silver Fields Resources Inc.

September 10, 2009 09:22 ET

Silver Fields Resources Inc.: Silver Property Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2009) - Silver Fields Resources Inc. (TSX VENTURE:SF)(FRANKFURT:RLQ) is pleased to announce the acquisition of additional key mineral claims contiguous to its 100% owned Keremeos Silver Property, located near Keremeos, BC. The new claims have been purchased outright from the mineral title holder and represent an important addition to the Silver Fields' land position. Terms of the acquisition include a cash payment of $5,000.00 plus 350,000 common shares. The agreement is subject to the approval of the TSX Venture Exchange.

The new claims cover an area of 169.36 hectares (419 acres), which, when added to Silver Fields existing 677.35 hectares (1,674 acres), increases the total mineral tenure holdings to 846.71 hectares (2,093 acres), all of which are 100% owned. The claims cover an area which hosts known mineral showings, both on surface and within the deepest workings and main haulage level (1,700 ft level) of the former Dankoe-Utica Silver Mine, which produced and milled ore from 1915 through to 1984. According to the B.C. Government Minfiles, the former mine produced 433,396 tonnes of ore from which approximately 127 million grams (4,089,409 oz) of silver, 333 thousand grams (10,706 oz) of gold, plus copper, lead and zinc were extracted. Production ceased when commodity prices declined, and there has been no new exploration recorded in the mine area for about 25 years.

Ongoing research of the underground working plans indicate that most of the past silver ore production and mine workings are located on Silver Fields' property, including a large un-drilled exploration area which lies east of the mine within the same geological environment. The company is now engaging in discussions with former mine geological staff and local stakeholders with regards to the mine, and is planning a comprehensive NI 43-101 compliant review of the potential resources within the mine workings and the development of exploration drill targets. This review will commence upon completion of the recently announced Private Placement with diamond drill hole permitting to follow shortly thereafter.

Company President, Chris England stated, "This acquisition is timely as the price of silver is reaching new historical highs and it provides a compliment to our coal holdings in Saskatchewan, where the Company has two drill ready projects, waiting for the close of the Private Placement."

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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