March 21, 2007
NEWS
RELEASE
Geological Report Filed on Rainy River
Gold Project, NW Ontario
VP Appointed for Mongolia
Vancouver, BC - Bayfield Ventures Corp. (TSX.V: BYV) (FWB: B4N) announces that it has commissioned a
Geological Report on its jointly held Claim Block “A” property located
in the Rainy River District of northwestern Ontario. The Report was
filed on SEDAR on March 20, 2007 and can be accessed on the SEDAR website at www.sedar.com
.
Bayfield Ventures Corp. is
earning a 50% interest in and to the Claim Block “A” property by
issuing cash payments totaling $41,000 and issuing total share considerations
of 100,000 common shares of Bayfield Ventures over a four-year
working option term. A 1.5% NSR will remain with the optionor, with the
Company having the right to buy back 0.25% of the net smelter return for the
sum of $375,000.00.
The Claim
Block “A” property is located to the immediate southwest of the
Rainy River Resources Ltd. property and is located approximately 3 km to the
southwest of Rainy River Resources #17, #433, and ODM gold zones.
Rainy River claims map: http://www.bayfieldventures.com/i/maps/BYV-RR-Area-all.gif
The Claim
Block “A” property is well within known volcanic greenstone and
sedimentary rocks and cover similar lithologies and structures to those
hosting the gold zones on the adjoining Rainy River Resources claims.
On
February 6th, Bayfield
announced that it had contracted with Heath and Sherwood Drilling to complete
an overburden drill program on the Company's 100% owned Claim Block
"B", "C" and 50% owned Claim Block "A"
properties. Approximately 40 overburden drill holes for a total of 1,250
metres have now been completed.
The 3
properties appear to be underlain mainly by mafic intrusive volcanic rocks.
Much of the exploration in the area to date (Nuinsco / Rainy River Resources)
has been by overburden drilling due to limited geological exposure.
Previous
gold values encountered in tills in this area indicate potential for gold
rich volcanogenic massive sulfide deposits. The bulk of the gold
mineralization outlined to date on the Rainy River Resources property shows a
clear alignment with crosscutting structures evident from regional
geophysical (magnetic) data. Bayfield has now established 2 grids on the
"A" and "B" claim blocks and has completed a detailed
geophysical program to further establish the stratographic and structural
features as seen in previous airborne geophysics.
Results from the overburden drill program will further enhance drill targets
on the Rainy River claims in preparation for a
diamond drill program scheduled for mid April 2007.
In other news,
Bayfield Ventures Corp. is pleased to announce that Mr. Allen Cole has
consented to serve as Vice President of the Company’s wholly own
subsidiary Bayfield Mongolia LLP. Mr. Cole has over 20 years of
experience in the mineral exploration and development sector including
Exploration Manager for Fortress Minerals Corp., and Project Manager &
Manager of Corporate Development for Entr�e Gold Inc., both with projects in Mongolia.
His experience includes negotiating drill contracts, employment contracts, organizing
geophysical surveys, soil sampling, and camp construction, acting as local
government liaison, and conducting exploration programs in foreign countries.
Mr. Cole has joined Bayfield Mongolia LLP to assist the Company with its
business activities in Mongolia.
Al Cole
received his Bachelor of Arts Degree from the University
of British Columbia in 1985 and his
Law Degree from the University
of British Columbia in
1988. Mr. Cole was called to the Bar of British Columbia in 1989 and
practiced as an attorney until 2001.
Bayfield
Ventures Corp. is actively involved in the exploration for gold in
Northwestern Ontario, diamonds in Central Saskatchewan, Canada, 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
“Jim Pettit”
JAMES G. PETTIT
Chairman
Shares Issued & Outstanding
17.2 million shares
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