11, 2007 (TSX-V: BYV)
River Option Agreement on Additional Parcel, NW Ontario
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
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.
#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.
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.
Option Agreement is subject to the acceptance by the TSX Venture Exchange.
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.
further information on Bayfield Ventures Corp. (TSX-V: BYV), visit the
Company’s web site at www.bayfieldventures.com.
OF THE BOARD OF DIRECTORS
Shares Issued & Outstanding
19.0 Million Shares