Silver Fields Resources Inc.

Silver Fields Resources Inc.

January 29, 2008 06:00 ET

Silver Fields Resources to Drill La Esperanza Project in Mexico

Company Commences 2008 Exploration Season

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2008) - Mr. Chris England, President and CEO of Silver Fields Resources Inc. ("Silver Fields" or "The Company") (TSX VENTURE:SF)(FRANKFURT:RLQ), is pleased to announce the mobilization of the drilling project on their Esperanza Concession in Zacatecas State, Mexico. Tecmin Servicios, S.A. de C.V., a Canadian-run company with extensive diamond drilling experience in the area, has been selected as the drill contractor. Plans call for a four hole program, totalling 600 metres, to test a silicified zone and related vein-style mineralization with anomalous gold and silver values identified by Silver Field's exploration team.

The target is a ring-shaped zone of silicified outcrops and related gold in soil anomalies approximately four hundred meters in diameter that appears to be cut off to the south. The potential deposit is hosted by limestone of the Cuesta del Cura Formation of Cretaceous age cut by silicified breccias. The mineralized outcrops are bodies of silicified breccias composed of limestone fragments in a matrix of grey to black silica containing gold and silver related to iron oxide. The breccia outcrops are from 70 to 300 meters long and 20 to 50 meters wide. There are also chalcedony-calcite veins on the property. Silver Fields personnel now believe that the breccia bodies may represent the upper levels of a breccia pipe similar to, but smaller than a similar zone at the nearby Real de Angeles mine

The 25 hectare Esperanza property is located 25 kilometres south of Minco PLC's Bilbao property, 24 kilometres west of Frisco's Real de Angeles open pit mine and 26 kilometres southwest of Teck Cominco's San Nicholas project. Silver Fields is earning a 75% interest in the property by paying a total of $85,000; issuing 400,000 shares and committing to carrying out $600,000 dollars in exploration and development costs, all over a three year period. All payments are in US Funds.

Mr. Michael Douglas Ellington, M.Sc., NCLG is a Qualified Person as defined in NI 43-101 and has reviewed this release.

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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