VANCOUVER, BRITISH COLUMBIA, Sep. 21, 2009 (Marketwire) -- Bayfield Ventures Corp. (TSX VENTURE:BYV) (FRANKFURT:B4N) (the "Company") announces that pursuant to the terms of a Property Option Agreement announced by news release dated October 11, 2007, it has issued a total of 70,000 common shares (17,500 each) and paid the sum of $40,000 ($10,000 each) to Kenneth, Brian, Stephen and Robert Burns. The Company had been granted an option to earn a 100% interest, subject to a 2% net smelter return royalty, in 1 patented claim block, titled the "Burns Block" (80 acres), located in the Richardson Township, Rainy River District, NW Ontario.
Rainy River property claims map:
In order to earn a 100% interest in the Burns Block property, the Company must make final cash payments of $60,000 and issue 130,000 common shares over the remaining two year term of the Agreement.
Bayfield Venture's Burns Block property is located immediately to the east and adjoining, on strike, to Rainy River Resources recently announced mineral resource statement of an indicated gold resource of 2.225 million ounces of gold and an inferred resource of 1.8 million ounces of gold in situ. Recent limited drilling on Bayfield's Burns Block has resulted in intersections of 4.5 metres grading 11.91 g/t Au, 4.5 metres of 7.30 g/t Au and 4 metres of 4.62 g/t Au.
The Company is planning for a winter 2009 extended drill program.
The common shares issued are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring January 18, 2010.
Bayfield Ventures Corp. is actively involved in the exploration for gold in Northwestern Ontario.
For further information on Bayfield Ventures Corp. (TSX VENTURE:BYV), visit the Company's web site at www.bayfieldventures.com.
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