Seafield Resources Ltd V.SFF

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Company News Alert for Seafield Resources
	Seafield Closes $3,000,000 Private Placement at Market Premium
	TORONTO, ONTARIO--(Marketwire - May 24, 2011) - Seafield Resources Ltd. ("Seafield" or the "Company") (TSX VENTURE:SFF) is pleased to announce it has closed the private placement of 10,000,000 common shares priced at .30 per share, for gross proceeds of $3,000,000 (as originally announced in its May 9th, 2011 press release). The shares were acquired by a single strategic investor with a very positive long term view of the potential at Seafield's Quinchia projects in Colombia. The common shares that comprise the private placement will be subject to a four-month hold period under applicable Canadian securities laws expiring on September 25, 2011. No fees or commissions are payable in connection with the private placement. Closing of the private placement remains subject to final acceptance of the TSX Venture Exchange. It is anticipated that the net proceeds from the private placement will be principally used to advance Seafield's properties in the Quinchia gold district, located in the Risaralda Department of Colombia and for working capital purposes.