Bayfield Ventures Corp.
TSX VENTURE : BYV
FRANKFURT : B4N

Bayfield Ventures Corp.

March 21, 2007 12:54 ET

Bayfield Ventures Corp.: Geological Report Filed on Rainy River Gold Project, NW Ontario

VP Appointed for Mongolia

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2007) - Bayfield Ventures Corp. (TSX VENTURE:BYV) (FRANKFURT:B4N) announces that it has commissioned a Geological Report on its jointly held Claim Block "A" property located in the Rainy River District of northwestern Ontario. The Report was filed on SEDAR on March 20, 2007 and can be accessed on the SEDAR website at www.sedar.com.

Bayfield Ventures Corp. is earning a 50% interest in and to the Claim Block "A" property by issuing cash payments totaling $41,000 and issuing total share considerations of 100,000 common shares of Bayfield Ventures over a four-year working option term. A 1.5% NSR will remain with the optionor, with the Company having the right to buy back 0.25% of the net smelter return for the sum of $375,000.00.

The Claim Block "A" property is located to the immediate southwest of the Rainy River Resources Ltd. property and is located approximately 3 km to the southwest of Rainy River Resources #17, #433, and ODM gold zones.

Rainy River claims map: http://www.bayfieldventures.com/i/maps/BYV-RR-Area-all.gif

The Claim Block "A" property is well within known volcanic greenstone and sedimentary rocks and cover similar lithologies and structures to those hosting the gold zones on the adjoining Rainy River Resources claims.

On February 6th, Bayfield announced that it had contracted with Heath and Sherwood Drilling to complete an overburden drill program on the Company's 100% owned Claim Block "B", "C" and 50% owned Claim Block "A" properties. Approximately 40 overburden drill holes for a total of 1,250 metres have now been completed.

The 3 properties appear to be underlain mainly by mafic intrusive volcanic rocks. Much of the exploration in the area to date (Nuinsco / Rainy River Resources) has been by overburden drilling due to limited geological exposure.

Previous gold values encountered in tills in this area indicate potential for gold rich volcanogenic massive sulfide deposits. The bulk of the gold mineralization outlined to date on the Rainy River Resources property shows a clear alignment with crosscutting structures evident from regional geophysical (magnetic) data. Bayfield has now established 2 grids on the "A" and "B" claim blocks and has completed a detailed geophysical program to further establish the stratographic and structural features as seen in previous airborne geophysics.

Results from the overburden drill program will further enhance drill targets on the Rainy River claims in preparation for a diamond drill program scheduled for mid April 2007.

In other news, Bayfield Ventures Corp. is pleased to announce that Mr. Allen Cole has consented to serve as Vice President of the Company's wholly own subsidiary Bayfield Mongolia LLP. Mr. Cole has over 20 years of experience in the mineral exploration and development sector including Exploration Manager for Fortress Minerals Corp., and Project Manager & Manager of Corporate Development for Entree Gold Inc., both with projects in Mongolia. His experience includes negotiating drill contracts, employment contracts, organizing geophysical surveys, soil sampling, and camp construction, acting as local government liaison, and conducting exploration programs in foreign countries. Mr. Cole has joined Bayfield Mongolia LLP to assist the Company with its business activities in Mongolia.

Al Cole received his Bachelor of Arts Degree from the University of British Columbia in 1985 and his Law Degree from the University of British Columbia in 1988. Mr. Cole was called to the Bar of British Columbia in 1989 and practiced as an attorney until 2001.

Bayfield Ventures Corp. is actively involved in the exploration for gold in Northwestern Ontario, diamonds in Central Saskatchewan, Canada, and copper-gold and coal in the South Gobi region of Mongolia. Property partners include Goldcorp and BHP Billiton.

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

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various 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. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.

The TSX Venture and Frankfurt Stock Exchanges have not reviewed and do not accept responsibility for the adequacy or accuracy of the content of this press release.

Contact Information

  • Bayfield Ventures Corp.
    James G. Pettit
    Chairman
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    or
    Bayfield Ventures Corp.
    Don Myers
    Director
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    Email: info@bayfieldventures.com
    Website: www.bayfieldventures.com