Richfield Ventures Corp.
TSX VENTURE : RVC

Richfield Ventures Corp.

April 12, 2011 08:32 ET

Richfield Drills 124 Metres of 1.89 g/t Au and 25.71 Metres of 8.91 g/t Au

QUESNEL, BRITISH COLUMBIA--(Marketwire - April 12, 2011) - Richfield Ventures Corp. (TSX VENTURE:RVC) ("Richfield" or the "Company") is pleased to report drill results for nine holes of the 2011 30,000 metre drill campaign to expand and delineate the resource on the Blackwater Gold Project. The project is approximately 100 km south of Vanderhoof, BC.

The nine vertical holes were collared on the southern part of the Blackwater deposit, owned 100% by Richfield. Five holes are at the west side of known mineralization and four are near the east side. On the west-southwest the two best holes, BW 127 and BW 129, expand the resource in that direction. On the southeast BW 122, 124, 126 and 128 are mineralized and support the resource model for which a resource estimate was released recently. (The estimated Indicated Resource is 53.46 million tonnes at an average grade of 1.06 g/t Au containing 1.83 million ounces gold. A further 75.45 million tonnes at an average grade of 0.96 g/t Au containing 2.34 million ounces gold is estimated in the Inferred category (see NR March 2, 2011).

Two holes, BW 125 and BW 127 ended in good mineralization; plans to deepen these holes are in progress.

DDHFrom (m)To (m)Intvl (m)Au g/tAg g/t
BW 1211231190.442.7
BW 1215782250.512.1
BW 12116016443.507.1
BW 12270114440.395.1
BW 122126163370.6816.3
BW 122286321351.2012.5
BW 12324.15530.90.603.9
BW 1236993242.051.9
BW 123113136233.068.7
BW 123148163150.842.1
BW 12317818790.372.2
BW 123264283190.392.0
BW 123344360160.463.8
BW 123367380130.634.4
BW 123407416.669.663.191.88
BW 124271322510.755.5
BW 12512012883.803.2
BW 1266879110.412.9
BW 1268896811.5416.3
BW 126202236340.572.8
BW 126264340761.65419.2
BW 126 incl277287104.0347.4
BW 126& incl30330967.4633.8
BW 12752104522.9530.4
BW 127 incl6182216.8138.1
BW 127115127120.460.4
BW 127159184.7125.718.9158.2
BW 1294865172.844.6
BW 129117147300.8714.0
BW 129163173100.4213.9
BW 1291793031241.8919.5
BW 129 incl279295165.3060.0

Peter Bernier, RVC president, comments, "We are very pleased that these nine holes have the potential to expand the resource estimate. The results from BW 127 and BW 129 greatly enhance the potential of the southwestern part of the deposit."

Richfield has mobilized a third drill to the property and drilling is now concentrated on the JV ground where Richfield, with its 75% interest is the JV operator.

Drill map and strip logs for individual holes reported here will be posted on the company website.

Also see drilling results at http://www.corebox.net/properties/blackwater/index.php?deposit=510.

Widths reported are drill widths; true widths are unknown. Assays are uncut, length-weighted average values.

Quality Assurance

Richfield has implemented a rigorous quality assurance/quality control program at the Blackwater property using best industry practice and supervised by Dirk Tempelman-Kluit. The program includes chain of custody of samples from drill to laboratory. Drill core is sawn in half at the property and for each sample half of the core from one metre intervals is placed in plastic bags and sealed. The remainder is retained in core boxes stored at the project camp.

A standard sample, a blank sample, or a duplicate sample is inserted into the sample stream every tenth sample. Three certified ore assay laboratory standards are used in the program, and are supplied by CDN Resource Laboratories Ltd., an independent laboratory located in Langley, BC. Samples including the blanks, standards and duplicates, are shipped by bonded courier to Eco Tech Stewart Group Laboratories in Kamloops, BC, an internationally recognized analytical services provider. Rejects selected at random are sent to Acme Labs of Vancouver, BC for check assays. In total 2702.5 metres was drilled in nine holes; 2358 samples were prepared. A further 80 blanks, 78 standards and 85 duplicates were inserted in the sample stream. As well 86 samples were selected for check assay. Total quality control samples were 329, about 14% of the samples analyzed. Richfield detected no significant QA/QC issues during review of the data.

The scientific and technical information contained in this news release was prepared under the supervision of Dirk Tempelman-Kluit, Ph.D, FGAC, VP Exploration for Richfield Ventures Corp., and has been reviewed by Rob Pease P.Geo., who is a "Qualified Person" as defined under National Instrument 43-101.

Richfield Ventures Corp. is a public mineral exploration company trading on the TSX Venture Exchange under the symbol RVC. Richfield has been actively acquiring and exploring mineral tenures in the Quesnel Trough and Nechako Plateau regions of British Columbia.

On behalf of the Board of Directors of Richfield Ventures Corp.

Peter Bernier, President

Certain statements in this press release may be considered forward-looking information, including those relating to the "expectations", "intentions" or "plans" of the Company. Such information involves known and unknown risks, uncertainties and other factors -- including the approvals of regulators, availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, project cost overruns or unanticipated costs and expenses and other risks identified by the Company in its public securities filings -- that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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