Bayfield Ventures Corp.
TSX VENTURE : BYV
FRANKFURT : B4N

Bayfield Ventures Corp.

November 10, 2010 17:24 ET

Bayfield's Rainy River Drilling Intersects 7m of 3.11 g/t Au within 25m of 1.26 g/t Au, and 5m of 3.07 g/t Au within 20m of 1.00 g/t Au

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 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 immediately to the east and on strike to Rainy River Resources' multi-million ounce gold deposit. Rainy River Resources' NI 43-101 compliant resource included 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.

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

Highlights:

  • Confirmed continuity of near-surface gold mineralization north of hole RR10-15 and south of the recently reported North Gold Zone
  • Significant results include 7.0 metres of 3.11 g/t Au within 25.0 metres of 1.26 g/t Au in hole RR10-32, and 5.0 metres of 3.07 g/t Au within 20.0 metres of 1.00 g/t Au in hole RR10-33
  • Continuing to define shallow, bulk-tonnage gold mineralization on the Burns Block
  • Assays pending for the first seven infill holes drilled between the high grade zones in RR10-18 and RR10-15; two rigs actively exploring this area

Following completion of hole RR10-31, located in the North Zone, the rig was moved to a position north of discovery hole RR10-15 to begin exploring for the continuity of gold mineralization between hole RR10-15 and the North Zone. The results reported here confirm this continuity and further demonstrate that near-surface gold mineralization on the Burns Block is consistent with near-surface mineralization in Rainy River Resources' deposit. A total of five shallow holes were drilled (RR10-32 to RR10-36). All of the assays are presented in the table below.

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

Gold Assay Results for Burns Block:

DRILL HOLE AZ. ° DIP ° FROM (m) TO (m) INTERVAL (m) GOLD (g/t)
RR10-32 358 75 151.00 183.00 32.0 1.02
including     154.00 179.00 25.0 1.26
including     163.00 170.00 7.0 3.11
including     169.00 170.00 1.0 10.60
             
RR10-33 358 45 134.00 174.00 40.0 0.79
including     134.00 154.00 20.0 1.00
including     147.00 152.00 5.0 3.07
including     148.00 149.00 1.0 9.83
including     165.00 166.00 1.0 1.45
             
RR10-34 358 75 124.00 180.00 56.0 0.19
including     171.00 172.00 1.0 1.31
             
RR10-35 358 45 93.00 138.00 45.0 0.21
including     135.00 137.00 2.0 1.05
             
RR10-36 358 60 106.00 149.00 43.0 0.54
including     111.00 115.00 4.0 1.24
including     120.00 121.00 1.0 1.17
including     126.00 127.00 1.0 1.00
including     129.00 130.00 1.0 1.22
including     131.00 132.00 1.0 1.04
including     147.00 149.00 2.0 1.28
including     148.00 149.00 1.0 1.59

* g/t = grams per metric tonne
* Mineralized intervals in table 1 above are estimated to be 85% to 95% of true width

Jim Pettit, CEO of Bayfield Ventures, stated: "The results reported here continue to verify that the near-surface, bulk-tonnage gold mineralization on the central to northern section of the Burns Block would be conducive to the potential extension of an open pit scenario. The Company has yet to report on any infill drilling between the high grade holes 15 and 18. The delineation of the 400 metre linear plunge distance between the two holes has been of top priority and two rigs continue to work on this area."

Geological Discussion of Gold Assay Results from Holes RR10-32 to RR10-36:

A major fault zone was intersected in RR10-36 from 98 to 101 metres down hole. This structure appears to cross-cut the mineralized zone and has likely offset the higher grade gold mineralization north of hole RR10-15. More drilling is required in the area between RR10-15 and the north property boundary to properly explore for the up-dip extension of the high grade target.

In all areas explored at the Burns Block to date, higher grade mineralization is found where intense sericite alteration is fading and chlorite veinlets begin to appear. This alteration boundary is likely to continue to the east within the overall mineralization envelope developed in the dacite host rocks.

Exploration Potential:

After completing holes RR10-32 to RR10-36, the drill rig was moved just north of high grade hole RR10-18 in the southwest corner of the Burns Block. Infill holes are being drilled in this area to test the 400 metre linear plunge distance between the shallower high grade zone in RR10-15 and the deeper high grade zone in RR10-18. A second drill rig has also been moved just to the east of hole RR10-18 to accelerate the exploration of this high grade gold zone. A total of seven holes have now been completed in this area and assays are pending.

The exploration potential of the Burns Block property to the east of currently 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. The data is being compiled and follow-up sampling is planned prior to drilling.

Bayfield is still at a very early stage of exploration on its Burns Block property with approx. 20,000 metres of drilling completed out of 50,000 metres. The Company plans to continue to release drill results in series from the zones they were drilled in.

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 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.

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