Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the "Company") is pleased to announce that it has closed its non-brokered private placements raising $4,002,500.

Bayfield issued 7,150,000 flow-through units (the "FT Units") at a price of $0.35 per FT Unit. Each FT Unit consists 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 entitles the holder to purchase one non flow-through common share at a price of $0.50 per share if exercised on or before October 30, 2011.

The Company also issued 6,000,000 non flow-through units (the "NFT Units") at a price of $0.25 per NFT Unit. Each NFT Unit consists of one non flow-through common share and one non-transferable, non flow-through share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase an additional non flow-through common share of the Company at a price of $0.35 if exercised on or before April 30, 2013.

The Shares and Warrants issued under the private placements, and any Shares issued pursuant to the exercise of the Warrants are subject to a four month hold period under applicable securities laws and imposed by the TSX Venture Exchange expiring September 01, 2010.

Insider participation: Don Huston; Jim Pettit.

Pro group participation: Batell Investments Ltd. (Ken Bates / David Elliott); Dave Elliott; Marko Ferenc; Tony Frakes; David Lyall; Mary Monk; Janis Parmar; Lori Pinkowski; John Ross; Robert Sali; David Shepherd; Russell Starr; John Tognetti; Seth Allen; Brian Butterworth; Kevin Campbell; Howard Katz; Bernard Leroux; Mike Marosits; Barry Muir; Dale Panteluk; Eric Savics; Reginald Smith; Jamie Switzer; William Vance; Andrew Williams; Leo Wong; and the MineralFields Group.

Finders' fees were paid to Global Resource Investments LP (Rick Rule), KBH Capital Corp. Inc. (Marin Katusa / Dr. Marc Bustin / Joe Hung), Limited Market Dealer Inc., and Mackie Research Capital Corp. totalling $199,258.25 and 655,024 warrants that are exercisable into non-flow-through common shares at $0.35 if exercised on or before April 30, 2013.

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

About Bayfield Ventures Corp.

Bayfield Ventures Corp. is exploring for gold in the Rainy River and Red Lake districts of northwestern Ontario.

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