Seafield Plans Financing to Explore Elora-Expects Resource Estimate at La Silla.

TORONTO -- Seafield Resources Ltd. ("Seafield" or the "Company")(CNQ:SEAF), announces its intention to raise, by way of a non-brokered private placement, a minimum of $245,000. The funds will be used to continue exploration on the Elora gold project in Ontario. The Company plans to issue 700,000 Flow Through Units at a price of $0.35 per unit. Each unit will consist of one common share and one half of one common share purchase warrant exercisable for 18 months at $0.45. Finders' fees may be payable in connection with this financing.

Results from Seafield's initial eight hole diamond drill program to test the Jubilee Zone on the Elora Property, south of Dryden in NW Ontario, were summarized in a press release dated March 26, 2004.

Hole #               Depth      From - To       Gold         Width
                   (metres)       (metres)      (g/t)      (metres)

E-04-14               51.9   45.09 - 46.40     15.27          1.31
incl.                        46.04 - 46.40     28.47          0.67
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E-04-15              115.9   81.19 - 82.93      0.49          1.74
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E-04-16               51.8   36.13 - 39.88      5.33          3.75
incl.                        37.74 - 38.69     14.97          0.95
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E-04-17              131.1   68.66 - 75.46      3.24           6.8
incl.                        74.57 - 75.46     13.53          0.89
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E-04-18              169.5 111.67 - 113.72      2.15          2.05
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E-04-19              166.5   70.43 - 82.62      7.54         12.19
incl.                        72.41 - 78.05     14.29          5.64
incl.                        77.68 - 78.05    178.94          0.37
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E-04-20              150.9   94.57 - 95.88      2.38          1.31
incl.                        95.58 - 95.73      14.5          0.15
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E-04-21              209.2 125.76 - 128.66      6.58           2.9
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The gold values are associated with quartz vein and veinlets which occur along a steeply dipping horizon of interflow sediments with minor felsite dykes. Coarse visible gold was noted within quartz vein in three separate holes.

Holes 14, 16 and 17 were drilled south of earlier drilling and expand the Jubilee Zone in this direction. Holes 19, 20 and 21 were targeted to test the inferred plunge of a higher grade shoot within the Jubilee Zone. All these latter holes contain significant gold values and confirm that deeper exploration along this trend should be conducted.

At Seafield's La Silla gold exploration project in the Ollitas mining district, Sinaloa, Mexico, the Company is preparing a 43-101 report and resource estimate.

The La Silla property consists of eight exploration concessions with a total area of 14,510 hectares. La Silla is located 60 kilometres north of Mazatlan in the foothills of the Sierra Madre Occidental, one of Mexico's most prolific gold and silver mining regions.

Gold-silver mineralization at La Silla has been identified in over 30 separate zones of veins, stockworks and breccias, with textures typical of the low sulphidation, epithermal environment. Several of the zones have small historical workings dating back to the 1800s and it is estimated that about 100,000 ounces of gold production came from the district.

Ten mineralized zones have been identified by drilling that warrant follow-up work to test for grade continuity. In addition, 17 veins on the property which contain gold in surface samples have received no drilling to date. A drill program is being planned to delineate in more detail some of the most prospective zones as well as to explore extensions of these veins and other previously untested veins.

No stock exchange has reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, are forward -looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development as described in the Company's Annual Management Discussion and Analysis. As a result, actual results may vary materially from those described in the forward-looking statements. The Company relies on litigation  protection for forward looking statements.

Issued and Outstanding: 8,876,620

Seafield Resources Ltd. (CNQ:SEAF)