Bayfield Ventures Corp.
TSX VENTURE : BYV
FRANKFURT : B4N

Bayfield Ventures Corp.

February 26, 2010 15:59 ET

Bayfield Ventures Closes Financing With the MineralFields Group

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 26, 2010) - Bayfield Ventures Corp. (TSX VENTURE:BYV) (FRANKFURT:B4N) (the "Company") is pleased to announce that it has closed its non-brokered private placement of $300,000.00 through the sale of 1,000,000 flow-through units ("FT Units") at $0.30 each to the MineralFields Group. Each FT Unit consists of one flow-through common share (the "FT Share") and one transferable share purchase warrant (the "Warrant"), with each Warrant entitling the holder to purchase one non flow-through common share (the "Warrant Share") at a price of $0.35 per share if exercised on or before February 26, 2012.

The FT Shares and Warrants issued under the private placement, and any Warrant Shares issued pursuant to the exercise of the Warrants are subject to a four month hold period under applicable securities laws and imposed by the TSX Venture Exchange expiring June 27, 2010.

The Company paid the sum of $22,500 to Limited Market Dealer Inc. as a finder's fee in connection with this private placement.

"We are very pleased to be entering into this relationship with MineralFields Group", said Donald Huston, President and CEO. "This is an important milestone in the growth of Bayfield Ventures Corp. and we look forward to working with MineralFields Group as we develop our holdings in the Rainy River District of Northwestern Ontario."

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.

About Bayfield Ventures Corp.

Bayfield Ventures Corp. is exploring for gold in the Rainy River and Red Lake districts of northwestern Ontario.

For further information on Bayfield Ventures Corp. (TSX VENTURE:BYV), visit the Company's web site at www.bayfieldventures.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Donald C. Huston, President

This news release may contain certain "Forward-Looking Statements" that may involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on www.sedar.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Contact Information

  • Bayfield Ventures Corp.
    Donald C. Huston
    President
    604-687-3376 or Toll Free: 1-800-567-8181
    604-687-3119 (FAX)
    or
    Bayfield Ventures Corp.
    Donald G. Myers
    Director
    604-687-3376 or Toll Free: 1-800-567-8181
    604-687-3119 (FAX)
    info@bayfieldventures.com
    www.bayfieldventures.com