Bayfield Ventures Corp.
TSX VENTURE : BYV
FRANKFURT : B4N

Bayfield Ventures Corp.

December 01, 2010 09:01 ET

Bayfield's Rainy River Drilling Intersects 4m of 6.17 g/t Au within 21m of 1.53 g/t Au

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2010) - Bayfield Ventures Corp. (TSX VENTURE:BYV) (FRANKFURT:B4N) (the "Company") is pleased to announce additional drill results on its 100% owned Burns Block property in the Rainy River District of north-western Ontario. The Burns Block is situated adjacent to the east and on strike with Rainy River Resources' multi-million ounce gold deposit. Rainy River Resources' March 2010 NI 43-101 compliant resource includes 2.37 million ounces of gold at 1.3 g/t in the indicated category and an additional 2.66 million ounces of gold at 1.2 g/t in the inferred category (0.4 g/t Au cut-off for open pit mineralization and 3.0 g/t Au cut-off for underground mineralization).

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

Highlights:

  • Gold intercepts reported on Burns Block continue to define eastern extension of Rainy River Resource's main ODM17 gold zone
  • 4 metres of 6.17 g/t Au and 13 metres of 2.54 g/t Au within 21 metres of 1.53 g/t Au
  • Gold mineralization continues to be extended eastward on the Burns Block
  • Approximately 30,000 metres of drilling yet to be completed

Discussion of Results from 283 Zone Holes RR10-37 to RR10-40 and RR10-46 to RR10-48:

The infill drilling of the 400 metre linear plunge distance between RR10-15 and RR10-18 is still at an early stage with a total of five holes completed to target depth. Two holes were abandoned due to unexpected dip and azimuth deflections (flattening) occurring in the shallow portions of the holes (holes RR10-37 and 39).

Significant gold mineralization was intersected in hole RR10-47 from 375 metres to 396 metres down hole. This 21 metre interval returned an average grade of 1.53 g/t Au and includes metre intervals grading 14.80 g/t Au and 7.94 g/t Au. The position of this mineralized zone lines up well with the interpreted plunge of gold mineralization between holes RR10-15 and 18. Drilling and delineation of this target area is continuing. Holes RR10-38 and 40 intersected highly anomalous gold grades ranging between 0.2 g/t Au and 0.6 g/t Au over varied widths.

Updated Burns Block drilling exploration map:
http://www.bayfieldventures.com/i/maps/BYV_Burns_Exploration_Map_July_2010.jpg

Gold Assay Results from 283 Zone:

DRILL HOLE   AZ. ° DIP ° FROM (m)   TO (m)   INTERVAL (m)   GOLD (g/t)   Gold Zone
RR10-46    358 70 285.0   314.0   29.0   0.40   283 Zone
including       287.0   293.0   6.0   1.10    
and       288.0   289.0   1.0   5.58    
RR10-46        374.0   379.0   5.0   0.40    
including       375.0   376.0   1.0   0.96    
                         
RR10-47   358 80 375.0   396.0   21.0   1.53   283 Zone
including       375.0   388.0   13.0   2.54    
and       378.0   387.0   9.0   3.34    
and       383.0   387.0   4.0   6.17    
and       383.0   384.0   1.0   14.80    
and       386.0   387.0   1.0   7.94    
including       395.0   396.0   1.0   1.45    
                         
RR10-48   358 85 391.0   408.0   17.0   0.51   283 Zone
including       397.0   399.0   2.0   1.17    
including       398. 0   399.0   1.0   1.59    
including       405.0   406.0   1.0   1.09    
                         

* g/t = grams per metric tonne
* Mineralized intervals in table above are estimated to be 65% to 75% of true width

Discussion of Results from North Zone Holes RR10-41 to RR10-45 and RR10-49:

Bayfield has now completed reconnaissance drilling 180 metres east of the west boundary on the North Zone of the Burns Block property. Assay results continue to confirm the presence of significant widths of lower grade, bulk tonnage gold mineralization localized within near-surface, intensely sericite altered fragmental dacite volcanic host rocks. Intercepts include 8 metres of 0.81 g/t Au within 19 metres of 0.43 g/t Au in RR10-43 and 12 metres of 0.45 g/t Au in RR10-45. Holes RR10-42, 44 and 49 all intersected highly anomalous gold values over varied widths. The gold mineralization remains open to the east on all sections of the Burns Block including the North Zone.

Gold Assay Results from North Zone:

DRILL HOLE   AZ. ° DIP ° FROM (m)   TO (m)   INTERVAL (m)   GOLD (g/t)   Gold Zone
RR10-41   358 60 83.0   84.0   1.0   1.39   North Zone
 RR10-41        106.0   131.0   25.0   0.31    
including       123.0   124.0   1.0   1.70    
                         
RR10-43   358 45 93.0   112.0   19.0   0.43   North Zone
including       100.0   108.0   8.0   0.81    
and       105.0   107.0   2.0   2.09    
and       106.0   107.0   1.0   3.12    
                         
RR10-45   358 75 110.0   121.0   11.0   0.33   North Zone
RR10-45       136.0   148.0   12.0   0.45    
including       137.0   138.0   1.0   1.02    
                         

* g/t = grams per metric tonne
* Mineralized intervals in table above are estimated to be 75% to 95% of true width

"B" Block Exploration Update:

Eleven initial exploration holes have been completed on Bayfield's 100% owned "B" Block located to the northeast of the Burns Block. All holes encountered anomalous gold values over varied widths. The Company is evaluating all data from the "B" Block to determine the positioning of a winter 2011 drill program.

Exploration Potential:

The exploration potential of the Burns Block property to the east of the completed drilling has recently been upgraded by completion of surface mapping and rock chip sampling. Altered and mineralized dacite volcanic rocks extend completely across the property from west to east. Recently collected surface grab samples have returned gold values in excess of 1 g/t Au. Follow-up sampling of outcropping gold mineralization on the far eastern area of the Burns Block has been completed. The results will be used to target exploration drilling in this area 200 to 300 metres east of the current exploration area.

As well as continuing to define near-surface, bulk tonnage gold mineralization, Bayfield is also planning on drilling several deeper holes to below 600 metres. Rainy River Resources has reported that they plan to test the down-dip extension of their 433 and ODM17 gold zones to 2,000 metres below surface to significantly expand their current resource. Bayfield believes that deeper drilling on the Burns Block could potentially lead to the discovery of new gold zones below the primary mineralized lapilli tuff unit currently being delineated on the property.

Bayfield is still at a very early stage of exploration on its Rainy River properties with approximately 23,000 metres of drilling completed out of the planned 50,000+ metre drill program. Results are pending for several holes. The Company plans to continue to release drill results in series from the zones they were drilled in.

Additionally, silver assays for several hundred core samples in the 283, West and North Gold Zones along with nickel and PGE assays of altered and heavily sulfide mineralized mafic to ultramafic volcanic intervals on the "B" Block are pending.

Jim Pettit, CEO of Bayfield Ventures, stated: "The Company is very pleased with the exploration thus far as we continue to delineate the easterly extension of Rainy River's ODM17 gold zone onto the Burns Block. Our geological understanding of the property is progressing, and the definition of existing targets as well as the discovery of new ones is ongoing. With another 30,000 metres of drilling to go, Bayfield is confident it can steadily add value to its Rainy River properties."

Quality Assurance:

Drill core analysis and assaying is being conducted by ACT Labs in Thunder Bay, Ont. The lab is ISO/IEC 17025:2005 (CAN-P-4E) certified. The drill core is split and sampled in standard 0.5 metre to 1 metre intervals. The core samples were analyzed for gold by 30-gm fire assay with AA finish and by gravimetric methods from assays over 3000 ppb (over limit). Screened total metallic assays are being performed on samples assaying over 10,000 ppb. The Company has implemented a quality assurance and quality control program to ensure that the sampling and analysis of all samples is conducted in accordance with the best possible practices.

Shane Hu, P.Geo., Project Geologist for Bayfield Ventures is the Qualified Person, as defined by National Instrument 43-101 and supervised both the project field and the preparation of the technical information in this release.

About Bayfield Ventures Corp.:

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

The Company has approximately 50.5 million shares outstanding and over $8 million in its treasury.

For further information on Bayfield Ventures Corp. (TSX-V: 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.

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