Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the "Company") announces it has arranged a non-brokered private placement to raise up to $2,502,500 by the issuance of up to 7,150,000 flow-through units (the "FT Units") at a price of $0.35 per FT Unit. Each FT Unit will consist of one flow-through common share and one-half (1/2) of one non-transferable non flow-through warrant (the "NFT Warrant").

Each whole NFT Warrant will entitle the holder to purchase one non flow-through common share at a price of $0.50 for a period of eighteen months from the closing date of the private placement.

The Company will also raise an additional $1,500,000 by carrying out a non-brokered private placement of up to 6,000,000 non flow-through units (the "NFT Units") at a price of $0.25 per NFT Unit. Each NFT Unit will consist of one non flow-through common share and one non-transferable non-flow-through share purchase warrant (the "Warrant").

Each Warrant will entitle the holder to purchase an additional non-flow-through common share of the Company at a price of $0.35 for a period of three years from the closing date of the private placement.

A finder's fee of up to 5% cash and 5% non-transferable non flow-through warrants (the "Finder's Warrants") will be paid in connection with the private placement offering. Each Finder's Warrant will entitle the Finder to purchase a non-flow-through common share at a price of $0.35 per share for a period of three years from the closing date of the private placement.

Bayfield Ventures intends to utilize the proceeds from these private placements for a continuing drill program on its 100% owned Rainy River gold properties located in northwestern Ontario and for general working capital purposes.

The Company's drill program on its Rainy River Burns property will resume after spring break-up.