Playfair Mining Ltd. (TSX VENTURE:PLY) is pleased to announce that it has
acquired, by staking, a 100% interest in 673 claims covering 16,825 hectares in
the Seal Lake area of Central Labrador. The property covers some 136 copper and
copper-silver occurrences including 16 copper-silver showings and 9 copper
silver prospects, all discovered mainly via prospecting in the 1950's. Almost
all the showings and prospects occur within a consistent and laterally extensive
stratigraphic interval - the basal gray shale of the Upper Adeline Island
Formation. The copper-silver enriched Adeline Island Formation is believed to
form a canoe shape, with the rock unit outcropping over an estimated area
measuring about 33km long by 4.4km wide. Playfair's Seal Lake Copper Silver
Project covers the entire mapped extent of the favourable sedimentary unit and
its probable subsurface continuation.


The Seal Lake Basin has been explored intermittently for copper since 1950 by a
number of senior companies, including Frobisher, Kenneco (a Kennecott
subsidiary), Brinex, Beth-Canada (a subsidiary of Bethlehem Steel) and Noranda
Exploration. Historical work was conducted at a time when copper prices were low
and infrastructure was not as advanced as it is today. Now, with copper trading
at much higher prices, the Trans-Labrador Highway 110km to the south and the
Churchill Falls Hydro dam 180km to the southwest, the preliminary results
obtained by this group of companies suggest that Seal Lake is a large,
target-rich area with potentially economically significant mineralization. The
project area is located 140km northwest of Goose Bay and importantly a hydro
project access road is only 50km west of the western limit of the property. 


Mineralization at Seal Lake has been recognized since the 1970's as a reduced
facies sediment-hosted copper-silver mineralization of Kuperschiefer-type. It is
most closely analogous to the White Pine deposit in Michigan, USA that is
reported by the USGS to contain 688 million tonnes grading 1.2% copper and 40
gpt silver.


Europe's Kupferschiefer (medieval miners term for "copper shale") Basin is host
to one of the biggest sediment-hosted copper districts of the world, second only
to the Central African Copperbelt. The earliest traces of mining in the
Kupferschiefer date back to prehistoric times with the main mineralized regions
in Germany and Poland being mined systematically since medieval times. Several
major mines are currently operating in Poland where the deposit at Lubin is
reported by the USGS to contain 2,600 million tonnes containing 2% copper and 30
gpt silver. Table 2 below illustrates the impressive size and grade of such
sedimentary deposits found around the world. 


Don Moore, Playfair's Chairman stated, "Playfair is changing focus to
concentrate in the near term on the new copper silver opportunity in the Seal
Lake basin with its attention grabbing district scale. Kupferschiefer type
mineralization often stretches over great distances - in Europe, they run from
southern Germany through Poland; which is currently Europe's largest copper and
silver producer. Seal Lake is a major opportunity for Playfair. The
mineralization and geology of this new project is similar to the Kupferschiefer
type copper-silver deposits that are the focus of ongoing work at Hana Mining's
Ghanzi property." 


"Playfair continues to believe that there is a strong case for an upcoming
global Tungsten shortage. With four high-grade Tungsten deposits Playfair
remains well positioned to take advantage of the expected upcoming global
Tungsten shortage and associated Tungsten price increase." 


Previous work at Seal Lake has seen some very interesting results reported by
major mining companies. Playfair believes this data is relevant and reliable,
but notes that these historic data have not been verified. Chip sample results
reported by Noranda in 1991 show that "Mineralization in the area of interest
consists of disseminated chalcocite with lesser bornite and chalcopyrite in
grey-green reduced shales. The Whiskey Lake No. 150 showing had the best
results. This was 2.94% Cu and 45.85 g/t Ag over 11.0 m which includes 5.1% Cu
and 72.67g/t Ag over 4.0m". Table 1 below shows select highlight copper-silver
mineralization of the Seal Lake Copper-Silver Camp. 




Table 1 Seal Lake Historical Channel or DDH Highlights

----------------------------------------------------------------------------
Location                         Type      Metres (i)   Copper %  Silver gpt
----------------------------------------------------------------------------
Whiskey Lake 150                 Chip           11.0         2.9        45.9
----------------------------------------------------------------------------
Ellis                            Chip            4.9         2.5        93.0
----------------------------------------------------------------------------
Ellis                             DDH            4.3         1.7        51.8
----------------------------------------------------------------------------
Adeline Island                   Chip            6.4         2.5          na
----------------------------------------------------------------------------
Adeline Island                   Chip            5.3         2.1          na
----------------------------------------------------------------------------
Adeline Island                    DDH            2.4         2.5        11.0
----------------------------------------------------------------------------
Adeline Island                    DDH            2.6         1.1         5.5
----------------------------------------------------------------------------
Adeline Island                    DDH            3.5         1.9         8.2
----------------------------------------------------------------------------
Adeline Island                    DDH            1.6         4.7        42.2
----------------------------------------------------------------------------
(i) true widths unknown  



Table 2 Select Global Copper-Silver Sedimentary Deposits 
(Kupferschiefer type or reduced environment) 
(After USGS Open File Report 03-107)

--------------------------------------------------------------------------
Deposit                   Mt (millions) Copper %  Silver gpt  Country     
--------------------------------------------------------------------------
Lubin                          2,600.0       2.0        30.0  Poland      
--------------------------------------------------------------------------
White Pine                       688.0       1.2        40.0  United      
                                                              States      
--------------------------------------------------------------------------
Presque Isle                      90.7       1.3         5.0  United      
                                                              States      
--------------------------------------------------------------------------
Mansfeld                          75.0       2.9       150.0  Germany     
--------------------------------------------------------------------------
Ghanzi (Hana Mining)              60.4       1.5        17.7  Botswana    
--------------------------------------------------------------------------
Boseto (Discovery Metals)         60.4       1.4        19.5  Botswana    
--------------------------------------------------------------------------
Juaramento                        59.2       0.8        19.2  Argentina   
--------------------------------------------------------------------------
Richelsdorf                       42.0       1.0        25.0  Germany     
--------------------------------------------------------------------------
Redstone                          37.0       3.9        11.3  Canada      
--------------------------------------------------------------------------
Boleo                             18.7       3.4         9.0  Mexico      
--------------------------------------------------------------------------
Klein Aub                         18.0       2.0        45.0  Namibia     
--------------------------------------------------------------------------



Playfair is currently completing a digital compilation of historical exploration
and government geoscientific data for the region. On completion of this data
compilation, Playfair will detail work for the 2010 season, which may include
more detailed lake sediment-till sampling, prospecting, geological mapping, an
airborne radiometric-magnetic geophysical survey and possibly diamond drill
testing. 


Michael Moore, PGeo, is the qualified person who has reviewed the technical
information contained in this news release on behalf of the company.


Visit our website at www.playfairmining.com for more information. 

ON BEHALF OF THE BOARD 

D. Neil Briggs, Director

Forward-Looking Statements: This Playfair Mining Ltd. News Release may contain
certain "forward-looking" statements and information relating to Playfair which
are based on the beliefs of Playfair management, as well as assumptions made by
and information currently available to Playfair management. Such statements
reflect the current risks, uncertainties and assumptions related to certain
factors including, without limitations, exploration and development risks,
expenditure and financing requirements, title matters, operating hazards, metal
prices, political and economic factors, competitive factors, general economic
conditions, relationships with vendors and strategic partners, governmental
regulation and supervision, seasonality, technological change, industry
practices, and one-time events. Should any one or more of these risks or
uncertainties materialize or change, or should any underlying assumptions prove
incorrect, actual results and forward-looking statements may vary materially
from those described herein.
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