Seafield Metallurgical Testwork Upgrades Gold Recoveries at Miraflores, Colombia

TORONTO, ONTARIO--(Marketwired - Jan. 22, 2014) - Seafield Resources Ltd. ("Seafield" or "the Company") (TSX VENTURE:SFF) is pleased to report that the Company has now received the final reports on the recently completed Metallurgical, Geotechnical and Hydro-Geological work programs for the current feasibility study on the Miraflores gold-silver deposit, Quinchía, Colombia.

Metallurgical Highlights:

• The average overall gold recovery is estimated at 91% and is based on the weighted contribution of each of the rock types in both the underground and open pit designs;
  
  
• The average overall silver recovery is estimated at 54% and is based on the weighted contribution of each of the rock types in both the underground and open pit designs;
  
  
• The indicated recovery estimates include a 2% gold and silver recovery reduction to allow for losses due to projected process plant inefficiencies;
  
  
• The final feasibility study metallurgical recoveries for both gold and silver exceed the results used in the Updated PEA (see press release dated, August 3, 2013) which were 89% and 50% respectively.
  
  

"We are delighted to confirm the high gold recovery rates for all major geo-metallurgical units in the Miraflores deposit at a feasibility study level" commented César López, Seafield's President and CEO. "These results exceed what was used within the Updated PEA economic evaluation and combined with the other technical upside opportunities which evidently exist at Miraflores and the Quinchía district, leave us confident that we have an extremely valuable asset that is not being recognized by the market."

The feasibility study level Metallurgical, Geotechnical and Hydro-Geological reports were prepared by SRK Consulting ("SRK") in Denver. The Metallurgical report was principally based upon a comprehensive work program undertaken by Inspectorate Exploration and Mining Services Ltd. ("Inspectorate"), located in Richmond, BC, Canada. The corresponding Inspectorate report has also been delivered to the Company.

Seafield's Miraflores Deposit is situated in the Company's 100%-owned, 6,757-hectare, Quinchía Gold Project. Miraflores is a low sulphidation epithermal gold deposit located in Colombia's mineral-prolific Mid-Cauca gold belt. The mineralization is located in a hydrothermal breccia pipe with free gold associated with cement materials (the matrix) and high grade structures where gold is associated with zinc, lead, copper and iron. At surface, the breccia pipe has a drill-tested diameter of 250 metres by 280 metres. The breccia pipe widens and remains open at depth with a drill-tested vertical extent of 600 metres.