VANCOUVER, British Columbia, Jan. 20, 2006 (PRIMEZONE) -- Bayfield Ventures Corp. (TSX-V:BYV) has now received a preliminary report on reconnaissance field operations on its mineral licenses located in the South Gobi Region of Mongolia under option to BHP Billiton (NYSE:BHP). The report was prepared for BHP Billiton Mineral Exploration by Dr. Per Michaelson (Resolve Geological Pty Ltd).
http://www.sedar.com/csfsprod/data63/filings/00880620/00000001/C%3A%5CLegal%5CBayfield%5Creport2.pdf
The Navtgar Uul property (105,407 hectares) is located approx. 50 km to the south-southwest of the largest coal deposit in Asia, the Tavan Tolgoi coking coal deposit (5 billion tons estimated), and south of the recently announced coal discovery by QGX Ltd. on their Baruun Naran license. The property is also located approx. 80 km to the west-northwest of the Oyu Tolgoi copper-gold deposit operated by Canada's Ivanhoe Mines. Four prospective areas have been identified during the reconnaissance field program conducted in September / October 2005. The late Permian target areas at the Navtgar Uul are considered to have potential to represent a multi-coal sequence of similar age to the major coal strata at Tavan Tolgoi.
Map:http://www.bayfieldventures.com/i/maps/mongolia.jpg
At least four targets identified from the fieldwork results will warrant further follow up. A Falcon(tm) airborne geophysical program is in progress over the Navtgar Uul mineral license and the data will be integrated with the fall 2005 field data. An integrated exploration approach of both remote sensing study and ground geological mapping are intended to outline targets for consequent drill testing.
A Falcon(tm) airborne survey is also planned over the Hurmen Uul license, (48,000 hectares), a second property held by Bayfield (and also under option to BHP Billiton), is scheduled to be completed by early spring 2006.
Don Huston, President of Bayfield Ventures stated: "We are very pleased with the geological information received to date from the ongoing exploration program being conducted by our partner, BHP Billiton on our South Gobi Region, Mongolia properties. The geological report received from Dr. Per Michaelson suggests that fieldwork has identified four targets worthy of drilling for coking coal. It is also suggested that this study has identified enough encouraging data to proceed with drilling as soon as practically possible. With Bayfield's Navtgar Uul mineral license being situated only 120 km north of the Chinese border and 50 km to the south of Mongolia's Tavan Tolgoi coal deposit, the property is ideally located for further exploration and potential development. With Bayfield's share structure of approx. 14.9 million shares issued and outstanding and current market capitalization, Bayfield's management believes the Company is in a good position to add shareholder value in the coming months."
BAYFIELD VENTURES CORP. is actively involved in the exploration and development of copper-gold and coal properties in the South Gobi region of Mongolia, and a gold property in the Red Lake region of northwestern Ontario, Canada.
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 "Don Huston" DONALD C. HUSTON President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.