Seafield Announces Restructuring of Management and Board
March 19 2014 - 9:00PM
Marketwired
Seafield Announces Restructuring of Management and Board
TORONTO, ONTARIO--(Marketwired - Mar 19, 2014) - 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 Quinchía 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 Quinchía 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 Quinchía 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.
Seafield Resources Ltd.David MacMillanInvestor Relations(416)
361-3434dmacmillan@sffresources.comwww.sffresources.com