VANCOUVER, British Columbia, July 12, 2006 (PRIMEZONE) -- Bayfield Ventures Corp. (TSX-V:BYV) announces that it has entered into an agreement with North - Sask Ventures Ltd., (the "Vendor") of La Ronge, Saskatchewan, to acquire a 100% interest in five mineral claim leases totaling 1,568 hectares situated in the Forte a la Corne area, Central Saskatchewan.
The Company's "Bay No. 1 " mineral claim lease adjoins Shore Gold claims on the north, south, and west. The block is located 6 km to the east northeast of the Shore Gold "Star" kimberlite body and 8 km to the east of the Kensington-DeBeer's 140-141 kimberlite body. Ground magnetic surveys on the Bay No. 1 indicate two untested anomalies 230 x 400 meters in diameter and 600 x 400 meters in diameter.
The "Bay No. 2" mineral claim block is situated 4 km to the north of the Kensington - DeBeer's 164 kimberlite body and 5 km to the east of the Kensington-DeBeer's 326-168-167 kimberlite bodies. A detailed ground magnetic survey on this property indicates two favorable anomalies 230 x 400 meters in diameter and 500 x 500 meters in diameter.
Bayfield Ventures advises that all 5 of the newly acquired mineral exploration leases are well located within the core area of the Fort a la Corne diamond discovery area.
As consideration for the sale of the Properties, Bayfield Ventures has agreed to pay the sum of $25,000 and issue 100,000 common shares to the Vendor. The Vendor is entitled to receive a 2% gross overriding royalty on the Properties. The Company may, at any time up to the commencement of commercial production, purchase up to three-quarters of the gross overriding royalty by paying the Vendor the sum of $1,000,000.
The Fort a la Corne area of Saskatchewan hosts one of the most extensive kimberlite fields in the world. The field consists of 72 volcaniclastic-dominated "crater-facies", Cretaceous kimberlites of varying size, complexity, and diamond content. Since their initial discovery in 1988, over 75% of the kimberlites have proven to be diamondiferous and approximately 50% have returned macro diamonds (Source: Saskatchewan Geological Survey). There are several world-renown mining companies such as De Beers, Cameco, UEM, and Shore Gold operating in the region.
In other news, Bayfield Ventures announces in will not be proceeding with the acquisition of the Bannockburn gold property located in Madoc Township, Hastings County, southeastern Ontario.
Bayfield Ventures Corp. is actively involved in the acquisition, exploration and development of coal, gold, and base metal properties in the South Gobi region of Mongolia and in the Red Lake region of 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
"Don Huston"
DONALD C. HUSTON, President For further information contact myself or: Don Myers, Director Bayfield Ventures Corp. Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@bayfieldventures.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS 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.