VANCOUVER, BRITISH COLUMBIA, Jan. 28, 2010 (Marketwire) -- Bayfield Ventures Corp. (TSX VENTURE:BYV) (FRANKFURT:B4N) (the "Company") announces that it has arranged a non-brokered private placement of up to 1,000,000 units at a price of $0.25 per unit. Each unit consists of one common share and one non-transferable share purchase warrant which entitles the holder to purchase an additional common share at a price of $0.30 per share for a period of two years.
The Company may also pay a finder's fee in cash or units equal up to 7% of the private placement offering. The finder's units will be on the same terms as the subscribers' units.
Bayfield intends to utilize the proceeds of the private placement for general work capital purposes.
Bayfield Ventures Corp. is actively involved in the exploration for gold in Northwestern Ontario. Property partners include Goldcorp.
For further information on Bayfield Ventures Corp. (TSX VENTURE:BYV), visit the Company's web site at www.bayfieldventures.com.
ON BEHALF OF THE BOARD OF DIRECTORS
James G. Pettit, Chairman
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.