|By Marketwired .||
|March 19, 2014 09:00 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 03/20/14 -- Seafield Resources Ltd. ("Seafield" or "the Company") (TSX VENTURE:SFF) is pleased to announce the following changes to the Management and Board of Directors of Seafield.
Corporate management structure changes have been implemented in line with the future direction of the company and with a view to further reducing corporate overhead expenses.
Mr. David Prins has been appointed a director of Seafield and the President and Chief Executive Officer of the Company. "Dave Prins has done an outstanding job as Chief Operating Officer of Seafield, and I am pleased and proud to have him accept the position of President and Chief Executive Officer, and I welcome him to the board as a new director. Dave is an excellent professional, and, with his extensive experience in Latin American mining projects, he has the knowledge and skills to lead the Company and its Quinchia Gold Project forward," said Cesar Lopez.
Furthermore Mr. Amjad J. Ali has resigned as Chairman and Director of the company, for reasons of retirement. Mr. Cesar Lopez has accepted Mr. Ali's resignation and thanks him for his service and guidance to the company and its board of directors. Mr. Cesar Lopez has accepted the position of Non-Executive Chairman for the company going forward.
About Seafield Resources Ltd.
Seafield Resources Ltd. (TSX VENTURE:SFF) is a development stage company currently focused on completing a bankable feasibility study on its Miraflores Gold Deposit. Seafield's Quinchia Gold Project is located in the Department of Risaralda, Colombia. SRK Consulting Inc.'s (Denver) Preliminary Economic Assessment on the Miraflores Deposit indicates robust economics with a pre-tax internal rate of return of 23% and a pre-tax net present value (5%) of $141M. The Company cautions that mineral resources are not mineral reserves and do not have demonstrated economic viability. Miraflores currently has a NI 43-101 compliant Measured and Indicated resource estimate of 1,816,000 ounces gold at 0.78 g/t Au and 3,555,000 ounces silver at 1.5 g/t Ag (72.6 million tonnes at a cut-off of 0.27 g/t Au) and an Inferred resource estimate of 62,000 ounces gold at 0.51 g/t Au and 275,000 ounces silver at 2.3 g/t Ag (3.8 million tonnes at a cut-off of 0.27 g/t Au). 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 totaling 920,772 ounces gold at 0.5 g/t Au (57Mt at a cut-off of 0.3 g/t Au). Seafield Resources Ltd. trades its shares on the TSX 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.
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.