Seafield Reports Results of Annual Meeting of Shareholders
TORONTO, ONTARIO -- (Marketwire) -- 05/29/12 -- Seafield Resources Ltd. ("Seafield" or "the Company") (TSX VENTURE: SFF) is pleased to announce that all proposed resolutions were approved at the Company's Annual and Special Meeting of Shareholders today.
Shareholders of Seafield confirmed the resolution of the Company's proposed stock option plan as well as the appointment of McCarney Greenwood LLP as the Company's auditor.
Cesar Lopez, Juan Villarzu, Antonio Pichardo and James Pirie were re-elected to the Board of Directors of the Company for the ensuing year. Douglas Wu, Howard Crosby and Anthony Roodenburg did not stand for re-election. Seafield would like to thank them for their contributions and wishes them success in their future endeavours.
About Seafield Resources Ltd.
Seafield Resources Ltd. is a mineral exploration company currently focused on advancing its Miraflores Deposit in Colombia towards feasibility level. Seafield's 100%-owned 6,757-hectare Quinchia Gold Project is located in the Department of Risaralda, Colombia. Seafield's Miraflores Deposit currently has a NI 43-101 compliant Measured and Indicated resource estimate of 1,925,542 ounces gold at 0.8 g/t and an Inferred resource estimate of 103,043 ounces gold at 0.6 g/t. The Miraflores Deposit's Preliminary Economic Assessment indicates robust economics with an IRR of 50% and an NPV(8%) of $249M. Additionally, the Company has a NI 43-101 compliant resource estimate for its Dosquebradas Deposit, also part of the Quinchia Gold Project, with an Inferred resource estimate totalling 920,772 ounces gold at 0.5 g/t. Seafield Resources Ltd. trades its shares on the Toronto Venture Exchange (TSX-V) under the symbol SFF and in the United States using CUSIP 81173R101. For more details on the Company, please visit www.sffresources.com.
Forward-Looking Statement
This news release includes certain "forward-looking statements" within the meaning of that phrase under Canadian securities laws. 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. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. 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. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward-looking statements.
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.
Contacts:
Seafield Resources Ltd.
David MacMillan
Investor Relations
(416) 361-3434 ext. 202
dmacmillan@sffresources.com
www.sffresources.com