Seafield Resources Ltd.

Creditor and stakeholder information

Receivership Proceedings

On September 9, 2014, KPMG Inc. was appointed receiver (the "Receiver") of Seafield Resources Ltd. ("Seafield") pursuant to an order of the Ontario Superior Court of Justice.

Pursuant to an order of the Ontario Superior Court of Justice, Commercial List, made May 20, 2015, KPMG Inc. in its capacity as Court-appointed receiver (the “Receiver”) of Seafield Resources Ltd (“Seafield” or the “Company”), is soliciting written proposals for the acquisition of the Company’s assets, by way of sale or an investment into the Company or its wholly-owned Colombian subsidiary, Minera Seafield SAS (“Minera”).

Minera, is 100% owner of 15 mining concessions covering an area of 6,042.8 hectares located in the Quinchía District in Colombia (“Miraflores” or the “Project”). Miraflores is an undeveloped open-pit and underground project with a resource base of 1.8Moz gold and 3.6Moz silver.

Seafield is also owner of 14 patented parcels of mining land and one license of occupation in the Kenora Mining Division of Northwestern Ontario (the “Elora Property”).

Interested parties must be qualified by the Receiver in order to participate in the process and are required to submit initial bids by no later than 5:00 p.m. (EST) on Wednesday July 15, 2015.

The Sales and Investment Solicitation process noted above did not result in any qualified purchase or investment bids. As such Seafield Resources Ltd. filed (or was deemed to have filed) an assignment in Bankruptcy on the 24th day of August 2015.

On March 2, 2016, the Court granted an order providing for the discharge of the Receiver upon the Receiver filing a certificate of completion. The Receiver ultimately filed a certificate with the Court on January 15, 2020, certifying that the Receiver has performed all of the outstanding activities described in the Second Report and referred to in Paragraph 5 of the Discharge Order.

Bankruptcy Proceedings

KPMG Inc. (“KPMG”) was appointed Trustee (the “Trustee”) of the Estate of Seafield Resources Ltd. (“Seafield” or the “Company”) on August 24, 2015 pursuant to an assignment for the general benefit of creditors (the “Assignment”) filed by KPMG in its capacity as the Company’s Court appointed receiver.

KPMG was discharged as Trustee of Seafield on August 23, 2019.

Contact Information

Mike Schwartzentruber

mikes@kpmg.ca

Zakir Patel

zvpatel@kpmg.ca

Aaron Collier

acollier2@kpmg.ca

Court Orders and Endorsements

Receivership Order [PDF 153 KB] - 9/9/2014

Endorsement of Justice Newbould [PDF 33 KB] - 9/9/2014

Order of Justice Wilton-Siegel-SISP approval [PDF 1433 KB] - 5/20/2015