Silver Fields Resources Inc. Receives Letter of Comfort on Saskatchewan Coal Permits
15 July 2008 - 8:00PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (FRANKFURT: RLQ) ("Silver Fields")
("the Company") is pleased to announce that a "Letter of Comfort"
has been received from the Saskatchewan Ministry of Energy and
Resources in regard to coal permit applications submitted on behalf
of the Company.
Silver Fields submitted the applications for permits
approximately 70 KM northwest of the Goldsource Mines Inc.
discovery, in East-Central Saskatchewan, on May 23th, 2008.
Goldsource believes the coal it encountered is from the
Mannville/Swan River group of Creataceous age (Goldsource Mines
Inc. news release in Stockwatch on May 5, 2008). Coal structures of
the Creataceous age are generally stratigraphic and can encompass
several thousand square kilometres.
The "Comfort Letter" includes a list of dispositions applied
for, the dates of the submissions, land description, boundary plan,
affirmation of fee payment and first-year rent, the allocated Coal
Prospecting Permit (CPP) numbers, and if the submission has
priority over other applications. The "Comfort Letter" received by
Silver Fields confirms the permits applied for are "first in line"
and will be given priority sequence.
The final granting of the coal permits is dependent upon
government regulatory approval and time required to process the
applications, which is at the discretion of the Government of
Saskatchewan. Granting of coal permits is subject to a final review
of each application, indicating the nature of the work and money to
be expended. The "Comfort Letter" is not a guarantee that all or
any of the permits will be issued to Silver Fields, only whether or
not the Company is first in line for the permits.
Dr. K. Warren Geiger, Ph.D., P. Eng., P. Geo., a director of the
Company, is the Qualified Person for Silver Fields, as defined by
NI 43-101. He is currently co-ordinating the research of the
development in Saskatchewan
Subject to final permitting, the Company is preparing a
preliminary exploration program for the summer field season.
On behalf of the Board of Directors
Chris England, President and CEO
Silver Fields Resources Inc.
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.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Silver Fields Resources Inc. Chris England President
and CEO (604) 868-1000 Email: info@silverfieldsresources.com
Website: www.silverfieldsresources.com
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