Bayfield Ventures Corp.
TSX VENTURE : BYV
FRANKFURT : B4N

Bayfield Ventures Corp.

September 17, 2010 16:45 ET

Bayfield Announces Consulting Agreement, Property Option Payment, and Granting of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2010) - Bayfield Ventures Corp. (TSX VENTURE:BYV) (FRANKFURT:B4N) (the "Company") announces that it has entered into a Consulting Agreement with Envoy Strategic Partners of Toronto, Ontario. Pursuant to the terms of the Agreement the Company has agreed to engage Envoy for a period of six months to raise investor awareness, attract investment and find strategic financial partners. The Company has agreed to pay a fee of $2,000 per month, plus GST and shall from time to time grant Envoy incentive stock options in such amounts and such prices as to be determined by the board of directors of the Company and pursuant to the policies of the TSX Venture Exchange and regulatory authorities.

The Consulting Agreement is subject to TSX Venture Exchange acceptance.

The Company also announces that it has issued 70,000 common shares in connection with its Property Option Agreement dated September 26, 2007 with Kenneth, Brian, Stephen and Robert Burns whereby the Company has been granted an option to earn a 100% interest, subject to a 2% net smelter return royalty, in the Burns Claim Block Property located in the Richardson Township, Rainy River District, Kenora Mining District, Ontario (the "Property").

Rainy River gold properties claims map: http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf

The common shares issued are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring January 4, 2011.

In order to earn a 100% interest in the Property, the Company must make its final shares issue of 60,000 common shares.

Bayfield Ventures also announces that, pursuant to its stock option plan, the Company has granted incentive stock options to certain of its directors, officers, consultants and management company employees to purchase up to an aggregate of 1,814,993 common shares in the capital stock of the Company, exercisable for a period of five years, at a price of $1.19 per share. The Company's 10% rolling stock option plan was approved by the shareholders at the Annual General Meeting of the Company held on April 7, 2010. Any shares to be issued upon exercise of the stock options will be subject to a hold period and shall not trade before January 18, 2011.

About Bayfield Ventures Corp.

Bayfield Ventures Corp. is exploring for gold in the Rainy River District of north-western 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

James G. Pettit, Chairman and CEO

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.
    James G. Pettit
    Chairman and CEO
    604-687-3376, Toll Free: 800-567-8181
    604-687-3119 (FAX)
    or
    Bayfield Ventures Corp.
    Donald Myers
    Director
    604-687-3376, Toll Free: 800-567-8181
    604-687-3119 (FAX)
    info@bayfieldventures.com
    www.bayfieldventures.com