Bayfield Ventures Corp.
TSX VENTURE : BYV
FRANKFURT : B4N

Bayfield Ventures Corp.

December 04, 2006 09:00 ET

Bayfield Ventures Corp.: Rainy River Claim Block 'B' Acquired Adjacent to the East of Rainy River Resources Gold Discovery, NW Ontario

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 4, 2006) - Bayfield Ventures Corp. (TSX VENTURE:BYV) (FWB:B4N) announces that the Company has entered into a third Option Agreement in the Rainy River district of northwestern Ontario. This property acquisition is located in the heart of the new gold discovery area by Rainy River Resources. The property (Claim Block "B") is ideally situated in Richardson Township. The 480 acres of patented ground is adjacent on the east side of the Rainy River Resources #433 Gold Zone, the #17 Gold Zone, and the recently reported ODM Gold Zone.

Rainy River Claims Map: http://www.bayfieldventures.com/i/maps/BYVrainy11-17.jpg

Compilation of historic geological and geophysical data of exploration work conducted on the Claim Block B indicates 3 - 4 high priority airborne EM conductors that are coincident with a strong IP conductive zone identified from ground survey data. Bayfield Ventures is of the opinion that this priority target area warrants further work and the Company is now preparing for a winter diamond drill program. It is anticipated that drilling will commence by the beginning of February 2007.

Bayfield Ventures will earn a 100% interest to the Richardson Township Block property by issuing cash payments totaling $90,000.00 and issue share consideration of 160,000 shares of Bayfield Ventures over a 3 year working option term. A 2% NSR will remain with the optionor, with the Company having the right to buy back 1/2 of the NSR.

On November 29th, Bayfield announced the Company has entered into formal Option Agreements for the acquisition of a 100% interest the "C" Claim Block, consisting of 49 units totaling approximately 800 hectares located in the southeast portion of Sifton Township, and a 50% interest in the "A" Claim Block, consisting of 8 units totaling approximately 131 hectares, which is located approximately 1000 metres to the immediate southwest of the recently announced new ODM gold zone discovery of Rainy River Resources.

The newly acquired properties are located within extensions of the greenstone belt that is known to host the Rainy River Resources gold deposits. The attitude of the reported gold zones is similar to a series of interpreted northwest trending faults. These faults are very evident from the regional magnetic data and crosscut the volcanic belt along a 15 kilometre strike length. The northwest trending faults served as the focus for the emplacement of a number of late diabase dikes in the area. These structures appear to have been the focus of earlier gold mineralization that has been reactivated during emplacement of the dikes.

Rainy River Magnetic Data Map:

http://www.bayfieldventures.com/s/Image.asp?i=maps/BYV-RR-Area-magsurveyLRG.gif

Bayfield Ventures is of the belief that the deposits being outlined by Rainy River Resources at this time confirm the area as a mineral camp in its infancy of exploration. The land position with the crosscutting structures and well developed infrastructure now under option to Bayfield Ventures represent an excellent starting point in this emerging mineral camp.

David J. Busch, B.A., B.Sc., PGeo., is the qualified person under the meaning of National Instrument 43-101, and has reviewed the data in this News Release.

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.

For further information on Rainy River Resources Ltd., visit their web site at www.rainyriverresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS

DONALD C HUSTON, President

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.
    Donald C Huston
    President
    (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