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October
11, 2007 (TSX-V: BYV)
NEWS
RELEASE
Rainy
River Option Agreement on Additional Parcel, NW Ontario
Vancouver,
BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB:
B4N) announces that the Company has added an additional
property to its sizable land package in the Rainy River District of
northwestern Ontario.
Rainy
River Ontario
Claims Map:
http://www.bayfieldventures.com/i/maps/BYV-RR-Area-all.gif
Bayfield
has entered into an Option Agreement with Kenneth, Brian, Stephen and Robert
Burns (the “Optionors”), to earn 100% in certain patented mineral
rights totaling 80 acres located in Richardson Township
(Parcel #15961). In consideration, the Optionors will receive total cash
payments of $145,000.00 and will be issued a total of 340,000 shares
over a four year period. The Parcel #15961 property is subject to a 2%
net smelter return royalty. The Company has been granted a right to
purchase one-half (1%) of the net smelter return for the sum of $1,000,000.
Parcel
#15961, Richardson Township, is geologically ideally located and adjoining the
immediate east of the Rainy River Resources ongoing drill program at the #17
Zone, the ODM Zone, and the # 433 Zone gold discovery area. The new
property is also located to the immediate southwest of Bayfield Ventures
Claim Block “B” property.
Bayfield
will initiate an immediate work program on this new parcel with a grid being
established and a magnetometer and a horizontal loop EM survey being
completed in preparation for an immediate drill program.
This
Option Agreement is subject to the acceptance by the TSX Venture Exchange.
Bayfield
Ventures Corp. is actively involved in the exploration for gold in
Northwestern Ontario, 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-V: BYV), visit the
Company’s web site at www.bayfieldventures.com.
ON BEHALF
OF THE BOARD OF DIRECTORS
“Don
Huston”
DONALD
C. HUSTON
President
Shares Issued & Outstanding
19.0 Million Shares
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