SILVER FIELDS RESOURCES ACQUIRES ISKUT AREA PROPERTY
Mr. Chris England, President and CEO of Silver Fields Resources Inc.( the “Company”) (“Silver Fields”) is pleased to announce the Company has acquired an undivided 100% interest in 6 Mineral Claim Tenures located in the Tahltan Traditonal Territory of north-western British Columbia. The mineral claims encompass 2,528 hectares and are approximately 90 km southeast of Dease Lake, 30 km southeast of Iskut and approximately 30 km east of Highway 37.
The new claims have been purchased from the mineral title holder for a cash payment of $6,000 and 3,000,000 common shares. The property acquisition is subject to a 2% Net Smelter Return Royalty. One percent of the NSR may be purchased from the vendor for a price of $1,000,000.The agreement is subject to the approval of the TSX Venture Exchange.
The Company also wishes to announce that Mr. Raymond Demotte has joined the Board of Silver Fields Resources Inc. as a director, effective immediately. Mr. Demotte has over 28 years of experience working for companies such as The Bechtel Corporation and McKesson Corp. He is a member of the Society of Economic Geologists and has served in various capacities in the mining industry since 1995. He brings to the Company, a wealth of experience in financing of public companies, raising over 45 million dollars in equity financing, and has brought two mining operations into production.
The Board has also approved the appointment of Ms. Karen Robertshaw to the position of Chief Financial Officer. Ms. Robertshaw has a Bachelor of Commerce degree from Dalhousie University in Halifax, Nova Scotia and has worked as a staff accountant for Kenway Mack Slusarchuk Stewart LLP in Calgary Alberta from 2002 to 2008. She has been the accountant for Silver Fields since March of 2008.
The Company’s audit committee will now consist of Mr. Chris England, Dr. K. Warren Geiger and Mr. Ray Demotte.
Statements about the Company’s future expectations and all other statements in this press release other than historical facts are “forward looking statements”. The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time. The Company’s actual results may differ materially from the expected results.
We seek Safe Harbor.