Communicators

Silver Fields moves field crews to Keremeos property

2008-06-18 01:36 ET - News Release

Mr. Chris England reports

SILVER FIELDS RESOURCES COMMENCES 2008 EXPLORATION SEASON.

Silver Fields Resources Inc. has deployed field crews on its 381-hectare Keremeos silver property located midway between Keremeos and Osoyoos on Highway 3. The property covers the western face of Mt. Richter and the former Horn silver mine. The property is accessible from the east via the range road on Mt. Richter. The road is open to four-by-four and all-terrain-vehicle travel. The initial plan is to determine the logistics of using this access point to complete a prospecting/geological assessment of the Woodrow/Silver Glance area, supported by soil and screened talus fines sample lines along the contour elevations below the deposits.

Coal update

Dr. K.W. Geiger, a director of Silver Fields, is currently travelling to Regina, Sask., to commence research on the newly discovered coal properties located in the east-central region of the province. Management will keep shareholders informed as to the status of the "comfort letter," and the results of the research.

Financing

The company is proposing to offer a non-brokered private placement for securities in the amount of $500,000.

The issue will consist of up to five million units at 10 cents per unit. Each unit consists of one common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder to buy one additional common share of the company for a period of 12 months from the date of the closing of the private placement at an exercise price of 15 cents.

The company shall rely on the "accredited investor exemption" (British Columbia, Alberta, Ontario) and the "friends and relatives exemption" (B.C.), and therefore will not be preparing an offering document.

The gross proceeds of the offering will be used in part for general working capital.

The company will pay a finder's fee in connection with the private placement, according to the policies of the TSX Venture Exchange.

The private placement is subject to the approval of the TSX Venture Exchange.

We seek Safe Harbor.