Mr. James Pettit reports

BAYFIELD DRILLS 79.50M OF 8.66 G/T GOLD AND 57.67 G/T SILVER INCLUDING 11.2M OF 60.05 G/T GOLD AND 362.96 G/T SILVER AT RAINY RIVER, NW ONTARIO

Bayfield Ventures Corp. has drilled a major gold and silver intercept on its 100-per-cent-owned Burns block property in the Rainy River district of Northwestern Ontario. The Burns block is situated adjacent to the east and on strike to Rainy River Resources' multimillion-ounce gold deposit.

Highlights:

• Initial results from Far North fence drilling include 79.50 metres of 8.66 grams per tonne gold and 57.67 grams per tonne silver (starting at a downhole depth of 15.5 metres), including a bonanza-grade zone of 11.20 metres of 60.05 grams per tonne gold and 362.96 grams per tonne silver in hole RR11-71.
• This new bonanza-grade intercept in hole RR11-71 falls within the up-plunge projection of the modelled mineralized shoot. The total linear plunge distance between the bonanza-grade zones in holes RR10-18 and RR11-71 is approximately 600 metres.
• The new drill fence, known as the Far North fence, is an east-west exploratory fence that has been established in a position 60 metres north of the existing North fence. The purpose of the new fence is to test the near-surface portion of the mineralized zone that has only partially been delineated on the Burns block to date.
• The second Far North fence drill hole returned 43.8 metres of 1.02 grams per tonne gold and 28.15 grams per tonne silver, including nine metres of 3.25 grams per tonne gold and 96.34 grams per tonne silver in hole RR11-70.
• Additional drilling to the west and east along the new Far North fence is progressing rapidly while the other two drill rigs continue to expand the South, Central and North fences.
• Assays are pending for 15 additional holes.

Discussion of results from hole RR11-71

The Far North fence has been planned for several months and represents an aggressive drill exploration program focused in the near-surface, up-dip portion of the partially delineated gold-silver mineralized zone at the Burns block. The position of the high-grade gold and silver zones discovered by Bayfield last year in holes RR10-15 and RR10-18 strongly suggested that the rich mineralization was confined to a south-southwest-plunging shoot of very similar geometry to other high-grade zones roughly outlined by Rainy River Resources to the west of the Burns block. Previously released hole RR10-18 intersected 35.93 grams per tonne gold and 359.65 grams per tonne silver over 10.0 metres while hole RR10-15 intersected 12.88 grams per tonne gold and 39.26 grams per tonne silver over nine metres.

The new bonanza-grade intercept in hole RR11-71 falls within the up-plunge projection of the modelled mineralized gold-silver shoot on the western portion of the property thereby expanding the known high-grade zone to the northeast. The total linear plunge distance between the bonanza-grade zones in RR10-18 and RR11-71 is approximately 600 metres. The continuity of mineralization within this shoot has been difficult to establish but continued success strongly supports the presence of a discrete structural zone which hosts significant high-grade gold-silver mineralization in a south-southwest-north-northeast orientation.

The new high-grade intercept in hole RR11-71 lies within a broad halo of subgram level to multigram level gold and silver mineralization that is contained within the well-established west-east-trending zone of strong foliation, sericite alteration, locally intense deformation and highly variable pyrite mineralization. This pattern of high-grade zones lying within lower-grade mineralized halos has been seen at the Burns block many times during the continuing exploration and delineation drill program.

The true width of the zone in RR11-71 is estimated to be approximately 70 per cent to 80 per cent of the listed downhole interval lengths.

      GOLD AND SILVER ASSAY RESULTS FROM FAR NORTH FENCE HOLE RR11-71

Drill                    From       To   Interval       Au       Ag     AuEq
hole                       (m)      (m)        (m)    (g/t)    (g/t)    (g/t)

RR11-71                 15.50    95.00      79.50     8.66    57.67    10.03
including               38.00    90.60      52.60    13.07    85.70    15.11
including               46.00    61.00      15.00    45.24   281.03    51.93
including               47.80    59.00      11.20    60.05   362.96    68.69

The individual gold and silver assay results table displays the consecutive individual samples which together make up the 11.2-metre core section of the high-grade mineralized zone in hole RR11-71.

         INDIVIDUAL GOLD AND SILVER ASSAY RESULTS FROM THE 
                    HIGH-GRADE CORE IN RR11-71

Drill           From       To   Interval       Au       Ag     AuEq
hole              (m)      (m)        (m)    (g/t)    (g/t)    (g/t)

RR11-71        47.80    48.60       0.80   224.00    86.90   226.07
and            48.60    50.00       1.40     6.49    52.20     7.73
and            50.00    51.00       1.00    19.90    82.10    21.85
and            51.00    52.00       1.00   114.00   830.00   133.76
and            52.00    53.00       1.00   105.00 1,220.00   134.05
and            53.00    54.00       1.00    59.20   211.00    64.22
and            54.00    55.00       1.00    43.10    35.00    43.93
and            55.00    56.00       1.00    27.20    46.50    28.31
and            56.00    57.00       1.00    38.30   308.00    45.63
and            57.00    58.00       1.00    68.10 1,100.00    94.29
and            58.00    59.00       1.00     9.47    90.00    11.61

(i) AuEq (g/t) values calculated at the current 42:1 (gold price 
versus silver price) ratio, and metallurgical recoveries and net 
smelter returns are assumed to be 100 per cent

Detailed mineralogy of the RR11-71 intercept

A detailed description of the mineralization in RR11-71 has been excerpted from a summary log made during the initial stages of logging of the discovery: "A 10-to-12-metre-wide zone of high-grade mineralization is apparent in hole RR11-71, maybe 40 to 50 electrum sites seen thus far in a bonanza-looking zone of intense sphalerite-galena-chalcopyrite mineralization of the foliated dacite host rock. Zone runs roughly from 47 metres to 58 metres downhole, maybe wider. The noted electrum sites consist of easily visible crack fills, clusters of grains and as ladder veinlets cutting across grey quartz veinlets. Most electrum seen so far is occurring in numerous centimetre to decimetre-scale grey to white quartz veinlets, both lying in and crosscutting the foliation. The veinlets are deformed and highly discontinuous but are numerous enough to give the impression of being breccias infill silica rather than true veinlets. The electrum-bearing intervals are surrounded by dense webs of dark-brown sphalerite and associated galena and chalcopyrite. The noted electrum is very pale to nearly as white as native silver. Rarely, it has a bronze sheen when smeared but is never bright yellow."

The logging of the pale, smeared material as electrum is fully supported by fire and total metallic gold assays of the zone. The details of the mineralogy of the silver mineralization have not been confidently established. The logged amounts of electrum can likely explain the silver values that are less than 300 grams per tonne. The much higher values seen in several of the individual samples in this zone strongly suggest silver is also occurring as a sulphide, either within argentiferous galena or as a primary silver sulphide. It is also likely that some of the bright-white native metal logged as electrum could be nearly pure native silver.

Other results from the Central, North and Far North fence drilling

The other results table summarizes a series of holes which have been received since the last news release. Note that the list of hole numbers in the table contain gaps due to delays in assays being completed.

                     OTHER RESULTS 

Drill        From      To  Interval   Au      Ag  AuEq
hole           (m)     (m)      (m) (g/t)   (g/t) (g/t)

RR11-43    114.90  122.55     7.65  0.49   12.17  0.78
RR11-44    371.00  374.00     3.00  0.42    0.80  0.44
RR11-45    134.70  154.55    19.85  0.39   10.62  0.64
including  153.00  154.55     1.55  1.28    2.50  1.34
RR11-53    267.50  269.00     1.50  1.92   65.50  3.48
and        306.50  308.00     1.50  2.70    4.90  2.82
and        335.00  336.50     1.50  1.61    6.80  1.78
RR11-54    100.00  113.00    13.00  0.64   32.48  1.42
including  100.00  101.00     1.00  1.19   61.30  2.65
including  107.00  108.00     1.00  1.77   72.00  3.48
including  109.00  110.00     1.00  1.13   41.70  2.12
including  112.00  113.00     1.00  1.25   17.80  1.67
RR11-55    166.00  167.00     1.00  1.21    9.60  1.44
and        185.00  186.50     1.50  0.46   38.70  1.38
RR11-56     98.00   99.00     1.00  0.10   22.30  0.63
RR11-57    186.00  188.00     2.00  0.74   32.55  1.52
RR11-58     95.00   98.00     3.00  0.40    1.95  0.44
and        108.50  120.50    12.00  0.14   18.91  0.59
RR11-59    157.00  161.00     4.00  1.02   22.00  1.54
including  158.00  159.00     1.00  1.68   23.60  2.24
RR11-60    213.50  222.50     9.00  0.36    6.27  0.51
including  216.50  219.50     3.00  0.59   12.25  0.89
RR11-62    219.50  221.00     1.50  0.59    4.80  0.71
RR11-64     34.20   53.00    18.80  0.29    7.21  0.46
including   34.20   39.50     5.30  0.71   12.66  1.01
RR11-70     24.50   84.80    60.30  0.79   23.22  1.34
including   38.00   84.80    46.80  0.99   27.39  1.64
including   41.00   84.80    43.80  1.02   28.15  1.69
including   41.00   50.00     9.00  3.25   96.34  5.54
including   45.00   46.00     1.00 17.90  511.00 30.07
and         81.40   82.80     1.40  4.20   61.10  5.65
RR11-71     15.50   95.00    79.50  8.66   57.67 10.03
including   38.00   90.60    52.60 13.07   85.70 15.11
including   46.00   61.00    15.00 45.24  281.03 51.93
including   47.80   59.00    11.20 60.05  362.96 68.69

(i) The downhole interval lengths in hole RR11-70 are 
estimated to be approximately 85 per cent to 95 per
cent of true width.

Current exploration summary

Aggressive drilling is continuing at the Burns property using three well-maintained hydrostat diamond rigs. The average daily core production is between 250 and 325 metres of drill core. The manpower behind this program is increasingly being attained from first nations and local workers living in the area bounded by Fort Frances, Nestor Falls and Rainy River, Ont.

Bayfield's exploration and delineation drill program continues to consist of two main objectives. The primary objective is to continue to define the eastward extension of the main zone of foliated, sericite altered and sulphide mineralized dacite rocks. This rock package is the primary host for both the low-grade and high-grade gold and silver mineralization found at the Burns block to date. Infill drilling of the widely spaced expansion drilling accomplishes the second objective which is the discovery of high-grade gold and silver mineralization within the lower-grade envelope. Thus far, the majority of the drilling has focused in on the western 250 metres of the property leaving 550 metres of strike length unexplored to the east.

Jim Pettit, chief executive officer of Bayfield Ventures, stated: "Drilling the highest-grade interval to date, and expanding the high-grade mineralized shoot to the north and near surface, is a major milestone for the Burns block project. This significant achievement by our technical team further illustrates the continuous value being added to the property as well as the considerable exploration potential going forward. The high-grade intercept in hole RR11-71 is approximately 600 metres away from the high-grade discovery made last year in hole RR10-18 as measured by the linear plunge distance. The company will continue the exploratory drilling to the east to further prove up the bulk tonnage, pervasive mineralization on the property while attempting to locate and delineate additional high-grade zones. With three active drill rigs and over 50,000 metres of drilling left in the program, management is very pleased with the progress to date as well as the future prospects for the company."

Shane Hu, PGeo, project geologist for Bayfield Ventures, is the qualified person, as defined by National Instrument 43-101, and supervised both the project field and the preparation of the technical information in this release.

We seek Safe Harbor.