Bayfield Ventures Corp. (TSX-V: BYV) is exploring for gold and silver in the Rainy River district of northwestern Ontario.

Bayfield owns 100% of the mineral rights to its flagship "Burns" Block property which is located in the Richardson Township, Rainy River District of northwestern Ontario. The property is surrounded by Rainy River Resources (TSX: RR) property and adjoins the immediate east of Rainy River Resources' main ODM17 gold-silver deposit and to the west of their expanding Intrepid gold-silver zone. The Burns Block property is subject to a 2% NSR.

Drilling to date on the western side of the Burns Block demonstrates that the main ODM17 gold-silver deposit extends from Rainy River Resources' ground onto Bayfield's Burns Block. Notable drill results from Bayfield's current ongoing 100,000 metre drill program include 60.05 grams per tonne gold and 362.96 grams per tonne silver over 11.2 metres within 26.70 grams per tonne gold and 170.69 grams per tonne silver over 25.5 metres in hole RR11-71, as well as 35.93 grams per tonne gold and 359.65 grams per tonne silver over 10.0 metres in hole RR10-18.

The Company is currently focused on drilling a newly discovered high grade gold-silver zone on the eastern side of the Burns Block. Bayfield continues to drill test the down-plunge extension of this expanding mineralized zone which is projected to be the down-dip portion of Rainy River Resources newly discovered Intrepid Zone. Notable early results from the zone include  6.60 grams per tonne gold and 34.20 grams per tonne silver over 25.50 metres including 11.06 grams per tonne gold and 57.05 grams per tonne silver over 15.00 metres  in wedge hole RR12-34W1,  5.45 grams per tonne gold and 20.63 grams per tonne silver over 19.60 metres  in hole RR12-30, and 12.19 grams per tonne gold and 30.05 grams per tonne silver over 11.90 metres in hole RR 13-07.

Bayfield Ventures is consistently proving up lower grade, bulk tonnage gold and silver mineralization as well as high-grade gold and silver zones on the Burns Block property.

Rainy River Resources (TSX: RR) October 2012 NI 43-101 resource calculation shows a measured and indicated resource of 6.17 million of gold averaging 1.21 grams per tonne gold, in addition to an inferred resource of 2.28 million ounces of gold averaging 0.75 grams per tonne gold. Rainy River considers that the material above the final depth of the conceptual pit shell (500 metres vertical depth) offers reasonable prospects for economic extraction from an open pit using a cut-off grade of 0.35 grams per tonne gold. The deposit also contains a measured and indicated resource of 13.34 million ounces of silver averaging 2.62 grams per tonne silver, in addition to an inferred resource of 6.98 million ounces of silver averaging 2.32 grams per tonne silver.

Bayfield also has a 100% interest, subject to a 2% NSR, in the mineral rights to the Block "B" property. The 480 acre "B" Block is well located to the immediate east of Rainy River Resources' 433 gold zone. To the west, Bayfield has earned a 100% interest in the strategically located 1,976 acre "C" Block property.

All of Bayfield's properties cover similar lithologies and structures to those hosting the gold and silver zones comprising the Rainy River multi-million ounce deposit.

Bayfield Ventures Corp's goal is to increase shareholder value by developing exploration projects near world-class deposits that have the potential of becoming new discoveries.

Burns Block Highlights

• Bayfield's flagship Burns Block is surrounded by Rainy River Resources (TSX: RR) and adjoins immediate east of Rainy River's main ODM17 gold deposit and to the west of their expanding Intrepid gold-silver zone.
• Rainy River's October 2012 resource calculation shows a measured and indicated resource of 6.17 million of gold averaging 1.21 g/t gold, in addition to an inferred resource of 2.28 million ounces of gold averaging 0.75 g/t gold. The deposit also contains a measured and indicated resource of 13.34 million ounces of silver averaging 2.62 g/t silver, in addition to an inferred resource of 6.98 million ounces of silver averaging 2.32 g/t silver.
• 100,000 metre diamond drill program underway.
• Objective of major drill program: to explore and expand extension of gold and silver mineralization that is being defined by RR on their ground adjacent to Bayfield's properties.
• Drill results thus far are very promising: high grade gold intersections as well as definition of near-surface, bulk tonnage gold mineralization.
• Hole RR11-71 intersected 26.70 grams per tonne gold and 170.69 grams per tonne silver over 25.50 metres (starting at 38 metres down hole depth) including 11.20 metres of 60.05 grams per tonne gold and 362.96 grams per tonne silver.
• Hole RR10-18 intersected 35.93 grams per tonne gold and 360 grams per tonne silver over 10.0 metres.
• A wide shear zone at the East Burns - Intrepid Zone is being explored and this zone appears to be the far easterly strike extension of the main ODM17 gold-silver zone which hosts most of Rainy River's deposit and Bayfield's high grade gold-silver zones 600-700 metres to the west.
• East Burns - Intrepid Zone drill hole RR12-30 returned 5.45 grams per tonne gold and 20.63 grams per tonne silver over 19.6 metres.
• East Burns - Intrepid Zone Drill Hole RR12-34 returns 26.50 metres grading 8.82 grams per tonne gold and 39.44 grams per tonne silver including 11.60 metres of 17.04 grams per tonne gold and 79.07 grams per tonne silver.
• East Burns - Intrepid Zone Drill Hole RR13-7 returns 22.90 metres grading 8.10 g/t gold and 20.55 g/t silver including 11.00 metres of 12.19 g/t gold and 30.05 g/t silver.
• The assay results from the drilling at this new zone clearly show that strong gold mineralization is present over an expanding area, both down dip and along strike at the East Burns - Intrepid Zone.

Bayfield Ventures' owns 100% of the mineral rights of its flagship "Burns" Block Project which abuts the eastern boundary of Rainy River Resources' (TSX: RR) main ODM17 gold zone in the Richardson Township of northwestern Ontario. The property is subject to a 2% net smelter return royalty.

Access to the "Burns" property is attained via numerous all-weather, secondary provincial highways (gravel) and township roads, which lead off of paved provincial highways 11 and 71. These routes traverse the region and provide excellent ingress to the property.

The property is located near the international boundary with Minnesota. The nearest population centre is Fort Frances, 50 km to the southwest. Bayfield's properties lie within the Rainy River Greenstone Belt. This belt is one component of the western part of the Archean Wabigoon Subprovince of the Canadian Shield, a 900 km long east-west trending metavolcanic-metasedimentary domain bordered and intruded by granitoid intrusions of up to batholithic dimensions. The Wabigoon Subprovince is composed of several tectonically bounded assemblages consisting of komatiitic to calc-alkalic metavolcanics overlain by clastic and minor chemical sediments. Intrusion of the granitoid domes has imparted a synformal structural character to the supracrustal rocks, and the central axial zones of many of these synformal belts may be characterized by long sinuous shear / fault zones.

Drilling on the property has confirmed the widespread distribution of gold and silver within two litho-structural intervals directly on strike with the ODM17 Zone of Rainy River Resources. Both shallow and deeper (below potential open pit parameters) intercepts reported by Bayfield Ventures along the strike extension of the ODM17 Zone of Rainy River Resources indicate that well above gold and silver cut-off grade material continues onto the Burns Block.

The zones of mineralization occur in felsic metavolcanics within zones of stronger penetrative foliation. The foliation is near coincident with the strike and dip of the lithologies. Gold grade appears to be strongly influenced by proximity to the margins of strong sericitic alteration within the shear system. The zones strike at 120 degrees and dip at around 50 degrees to the southeast on the Burns Block property.

Rainy River's October 2012 resource calculation shows a measured and indicated resource of 6.17 million of gold averaging 1.21 g/t gold, in addition to an inferred resource of 2.28 million ounces of gold averaging 0.75 g/t gold. Rainy River considers that the material above the final depth of the conceptual pit shell (500 metres vertical depth) offers reasonable prospects for economic extraction from an open pit using a cut-off grade of 0.35 g/t gold. The deposit also contains a measured and indicated resource of 13.34 million ounces of silver averaging 2.62 g/t silver, in addition to an inferred resource of 6.98 million ounces of silver averaging 2.32 g/t silver.

Thus far Bayfield has had great success with the 100,000 metre drill program. The Company is delineating lower grade, bulk tonnage gold mineralization as well as higher grade zones with drill results right on par with Rainy River Resources.

In early 2010, hole RR10-15 tapped into a high grade gold and silver shoot and returned 31.71 g/t Au over 3.0 metres at 160 metres below surface. The Company quickly followed up this result with another significant drill intercept. Hole RR10-18 intersected 35.93 g/t Au over 10.0 metres. Bonanza grade silver was also intersected in hole RR10-18 totaling 360 g/t Ag over 10 metres including 1760 g/t Ag over 1 metre (gold equivalent intersection of 46 g/t AuEq over 10 metres). Furthermore, the linear plunge distance between the high grade zone in hole RR10-15 and that in hole RR10-18 is in excess of 400 metres indicating a potential for a high grade gold shoot of considerable length on the Burns Block.

As delineation drilling of the high grade gold-silver shoot continued on the western portion of the Burns Block, more high grade intercepts have been drilled. Hole RR10-52, drilled between RR10-18 and RR10-15, intersected 89.96 g/t Au and 1414.55 g/t Ag over 1.1 metres. Hole 11-1 intersected 33.13 g/t Au and 208.18 g/t Ag over 2.2 metres representing the down-plunge extension of the high grade mineralization in RR10-18. Hole RR11-5 intersected 13 g/t Au and 70.22 g/t Ag over 6.6 metres. The gold-silver zone in RR11-5 represents the up-plunge extension of the high grade mineralization intercepted in RR10-15 as the Company delineates the high grade shoot up towards the surface on the northern part of the property.

In May of 2011, a new east-west exploratory drill fence, known as the Far North Fence, had been established in a position 60 metres north of the existing North Fence. The purpose of the fence was to test the near surface portion of the mineralized zone that has only partially been delineated on the Burns Block to date. A major gold-silver zone was intercepted in Far North Fence hole RR11-71: 26.70 g/t Au and 170.69 g/t Ag over 25.50 metres including a bonanza grade zone of 11.20 metres of 60.05 g/t Au and 362.96 g/t Ag. The bonanza grade intercept in RR11-71 falls within the up-plunge projection of the modeled mineralized gold-silver shoot on the western portion of the property thereby expanding the known high grade zone to the northeast. The total linear plunge distance between the bonanza grade zones in RR10-18 and RR11-71 is approximately 600 metres. The results strongly support the presence of a discrete structural zone which hosts significant high grade gold-silver mineralization in a SSW-NNE orientation.

Bayfield has drilled a series of holes on due west azimuths in the northwest corner of the Burns Block. The purpose of these drill holes was two fold: to further delineate known high grade gold and silver zones and to explore for additional electrum bearing fracture zones between the existing pattern of north facing dill holes. The Company established numerous set-ups for these east-west drill holes in order to test the lateral thicknesses and vertical extensions of the bonanza grade gold zones previously intercepted in holes RR11-71, RR10-15, RR10-52 and RR10-18.

The results from these east-west infill drill holes have been highly encouraging. Drill hole RR11-180 intercepted 30.00 metres grading 12.98 g/t Au and 39.65 g/t Ag at a vertical depth of 40 metres. The length of this intercept demonstrates that the high grade zone intercepted in hole RR11-71 (11.2 metres of 60.05 g/t Au and 362.96 g/t Ag) has significant lateral width to it from east-west. Hole RR11-181 intercepted 7.20 metres of 61.02 g/t Au and hole RR11-182 intercepted 12.00 metres of 9.53 g/t Au and 31.35 g/t Ag.

The geometry of the three holes RR11-180, RR11-181 and RR11-182 produces approximately 12 metres of vertical continuity of the high grade zone along with highly variable but significant east-west continuity ranging from 7.2 to 30 metres. This high grade gold and silver zone is near surface and well above 100 metres vertical depth.

Surrounding the high grade zones on the western portion of the Burns Block is a pervasive, lower grade mineralized envelope. This envelope is significant to the overall value of the gold and silver mineralization hosted at the Burns Block. The mineralization commences immediately under 15 to 25 metres of glacial till cover in the northwest corner of the property.

Notable High Grade Drill Intercepts on the Western Burns Block Gold-Silver Zone:

The Company is currently focused on drilling a newly discovered high grade gold-silver zone on the eastern side of the Burns Block. Bayfield continues to drill test the down-plunge extension of this expanding mineralized zone which is projected to be the down-dip portion of Rainy River's newly discovered Intrepid Zone. Notable early results from the zone include Hole RR12-34W1 which intersected 25.50 metres grading 6.60 g/t Au and 34.20 g/t Ag including 15.00 metres of 11.06 g/t Au and 57.05 g/t Ag, RR12-30 which returned 19.60 metres of 5.45 g/t Au and 20.63 g/t Ag and and RR 13-07 returning 11.9 metres of 12.19g/t gold and 30.05g/t silver.

Rainy River Resources (TSX: RR) Intrepid Zone continues to expand in size, while infill drilling demonstrates excellent continuity within the zone. From their work to date, Intrepid appears to host parallel and plunging high-grade ore shoots, similar to those observed in the ODM Zone, at the heart of the Rainy River Gold Project.

Raymond Threlkeld, President and CEO of Rainy River Resources Ltd., commented: "The Intrepid Zone continues to demonstrate high grade gold with substantial silver values. High grade intercepts of almost half an ounce of gold and almost three ounces of silver over 9 metres in drill hole NR131523 exemplify the high quality nature of this zone. In addition, in thicker drill intercepts such as 36 meters of 2.24 grams per tonne gold and 12.28 grams per tonne silver in drill hole NR131494, we are finding a higher grade core, such as 7.2 grams per tonne gold and 32.8 grams per tonne silver over 7.5 meters, which further demonstrates the high grade potential of this zone. We will focus our drill program at the Intrepid Zone until the middle of the year, when we will prepare an inaugural resource statement."

The assay results from the drilling at this new zone clearly show that strong gold mineralization is present over an expanding area, both down dip and along strike at the East Burns - Intrepid Zone. Exploration in the East Burns - Intrepid Zone area has been very active in 2012 with drilling on both sides of the Bayfield - Rainy River Resources property line.

Assay results from East Burns step out holes RR12-31 to RR12-34. Hole RR12-34 intersected a very strong interval of gold and silver mineralization in a position approximately 55 metres down-plunge from previously reported hole RR12-30 thereby extending the known mineralized zone at depth. Hole RR12-34 intersected a down-hole interval of 26.50 metres grading 8.82 g/t gold and 39.44 g/t silver including 11.60 metres of 17.04 g/t gold and 79.07 g/t silver. This down-plunge offset of the previously announced mineralization in hole RR12-30 contains the highest grade gold-silver interval intersected at the East Burns - Intrepid Discovery Area to date.

A trend of increasing grade and thickness of the southwest plunging, precious and base metal mineralized shoot is becoming evident based on the combined results of holes RR12-12, RR12-30 and now RR12-34. The gold-silver intercepts in these three holes, the deepest and highest grade to date at the East Burns, trace higher grade mineralization over a down-plunge distance of approximately 70 metres and the zone remains open at depth. This persistent, robust zone of gold-silver-base metal mineralization is part of a larger system which Bayfield discovered near the east property boundary in late 2011 and which has been roughly outlined over a nearly 200-metre strike length and approximately 200 metres down-dip.

The overall mineral assemblages of the high grade zones in the west and east Burns Block are nearly identical. The combination of the very similar geologic setting of both the west and east areas of the Burns Block is very encouraging. More importantly however is the very high success rate being seen in the form of underground grade and width of the mineralized intervals in view of the limited drilling done at the east-central Burns target area to date.

The Company's properties are ideally located with easy access to roads and power. Ontario has low political risk and the Rainy River District has skilled labour and is one of the lowest-cost areas for mineral exploration and development in Canada.

Bayfield has a 100% interest, subject to a 2% net smelter return royalty, in the mineral rights to Claim 480 acre Block "B". The "B" Claim Block abuts the eastern boundary of Rainy River Resources' (TSX: RR) main 433 gold zone Richardson Township property in northwestern Ontario. Access to the "B" Block property is attained via numerous all-weather, secondary provincial highways (gravel) and township roads, which lead off of paved provincial highways 11 and 71. These routes traverse the region and provide excellent ingress to the property.

The "B" claim property is located near the international boundary with Minnesota. The nearest population centre is Fort Frances, 50 km to the southwest. Bayfield's properties lie within the Rainy River Greenstone Belt. This belt is one component of the western part of the Archean Wabigoon Subprovince of the Canadian Shield, a 900 km long east-west trending metavolcanic-metasedimentary domain bordered and intruded by granitoid intrusions of up to batholithic dimensions. The Wabigoon Subprovince is composed of several tectonically bounded assemblages consisting of komatiitic to calc-alkalic metavolcanics overlain by clastic and minor chemical sediments. Intrusion of the granitoid domes has imparted a synformal structural character to the supracrustal rocks, and the central axial zones of many of these synformal belts may be characterized by long sinuous shear / fault zones.

Compilations of historic geological and geographical data of exploration work conducted on claim block "B" indicates 3 — 4 high priority airborne EM conductors that are coincident with a strong IP conductive zone identified from ground survey data shown below.

In December 2008, Bayfield Ventures completed a 4 hole drill program (1192 metres in total) concentrated in the southwest corner of the "B" claim block. Mineralization on the "B" claim block was encountered in felsic pyroclastics flanking a strong north-south trending growth fault on the property. The fault is the most easterly of a series of north-south trending faults in the area. A number of distinct pebbly pyroclastic units abut this fault and trend off to the southwest.

All four holes, although shallow, encountered wide sections of elevated to strongly anomalous gold values including a 2 metre intercept grading 5.70 g/t gold within 5 metres of 2.64 g/t gold, and a 1 metre intercept grading 1.95 g/t gold. The gold values are typically associated with sulfides and elevated zinc values.

Hole RR08-1 encountered elevated to strongly anomalous gold values of 200 ppb to 1900 ppb Au over 38.8 metres from 92 metres to 130.8 metres, including 1.95 g/t Au over 1 metre from 99.7 metres to 100.7 metres. Hole RR08-2 encountered elevated to strongly anomalous gold values over a 21 metre intersection from 251 metres to 272 metres including 5.7 g/t Au (.17 oz/t Au) over 2 metres within 5 metres of 2.64 g/t Au. Hole RR08-3 encountered elevated to strongly anomalous gold values from 177 metres to 188 metres. Hole RR08-4 encountered elevated to strongly anomalous gold values of 200 ppb to 900 ppb Au over 28 metres from 26.5 metres to 54.5 metres.

The mineralization encountered on Bayfield's "B" claim block occurs in an environment similar to that hosting gold values on Bayfield's Burns Block and on the main ODM17 Zone of Rainy River Resources, all to the southwest. It is very likely that some of the lithological units are correlative across the area. All of this augers well for defining deposit scale mineralization on ground held by Bayfield Ventures in the immediate area. The Company is of the opinion that the highly altered dacitic tuff breccia zone, seen in Rainy River Resources' core, continues in an easterly trend onto Bayfield's "B" claim block.

Just to the southwest of the "B" Block a 5.2 metre intercept of 12.17 g/t gold was discovered. More recent drill results reported by Rainy River Resources to the east of their 433 gold zone represent a possible eastward strike extension of the zone. With sufficient drilling, Bayfield is of the opinion that it can prove up this extension of the 433 gold zone eastward onto the "B" Block.

Rainy River's October 2012 resource calculation shows a measured and indicated resource of 6.17 million of gold averaging 1.21 g/t gold, in addition to an inferred resource of 2.28 million ounces of gold averaging 0.75 g/t gold. Rainy River considers that the material above the final depth of the conceptual pit shell (500 metres vertical depth) offers reasonable prospects for economic extraction from an open pit using a cut-off grade of 0.35 g/t gold. The deposit also contains a measured and indicated resource of 13.34 million ounces of silver averaging 2.62 g/t silver, in addition to an inferred resource of 6.98 million ounces of silver averaging 2.32 g/t silver.

Bayfield is currently carrying out a 100,000 metre diamond drill program. The objective of this major drill program is to explore and expand the extension of gold mineralization that is being defined by Rainy River Resources on their ground adjacent to Bayfield's properties. The drilling will focus on confirming gold continuity and grade at both shallow and deeper depths.

Bayfield's properties are ideally located with easy access to roads and power. Ontario has low political risk and the Rainy River District has skilled labour and is one of the lowest-cost areas for mineral exploration and development in Canada.

Bayfield Ventures' "C" claim block, consisting of 49 units totaling approximately 1976 acres, abuts the western boundary of Rainy River Resources' (TSX: RR) Richardson Township property in northwestern Ontario. Access to the property is attained via numerous all-weather, secondary provincial highways (gravel) and township roads, which lead off of paved provincial highways 11 and 71. These routes traverse the region and provide excellent ingress to the property.

Rainy River's October 2012 resource calculation shows a measured and indicated resource of 6.17 million of gold averaging 1.21 g/t gold, in addition to an inferred resource of 2.28 million ounces of gold averaging 0.75 g/t gold. Rainy River considers that the material above the final depth of the conceptual pit shell (500 metres vertical depth) offers reasonable prospects for economic extraction from an open pit using a cut-off grade of 0.35 g/t gold. The deposit also contains a measured and indicated resource of 13.34 million ounces of silver averaging 2.62 g/t silver, in addition to an inferred resource of 6.98 million ounces of silver averaging 2.32 g/t silver.

The "C" claim property is located near the international boundary with Minnesota. The nearest population centre is Fort Frances, 50 kilometres to the southwest. Bayfield's properties lie within the Rainy River Greenstone Belt. This belt is one component of the western part of the Archean Wabigoon Subprovince of the Canadian Shield, a 900 km long east-west trending metavolcanic-metasedimentary domain bordered and intruded by granitoid intrusions of up to batholithic dimensions. The Wabigoon Subprovince is composed of several tectonically bounded assemblages consisting of komatiitic to calc-alkalic metavolcanics overlain by clastic and minor chemical sediments. Intrusion of the granitoid domes has imparted a synformal structural character to the supracrustal rocks, and the central axial zones of many of these synformal belts may be characterized by long sinuous shear / fault zones.

The Company completed a 2008 winter exploration program on its Claim Block "C" property in the Rainy River District of northwestern Ontario.

A tightly spaced line-cut grid consisting of approximately 70 kilometres was established on the Claim Block "C" property. Bayfield Ventures carried out a detailed Magnetometer survey and an Electro-Magnetic (EM) survey with Dan Patrie Explorations. The geophysical program was designed to establish targets that will be diamond drilled. The property has a large area of low lying acreage and swampland, so the work program was designed to utilize winter access to the maximum and to allow a comprehensive drill program to follow.

Bayfield contracted Geotech Ltd. to fly a combined VTEM and high sensitivity cesium magnetometer survey over its Burns, "B" and "C" Block properties in mid-December 2010. A total of 308 line kilometres were flown in the survey. Data from the survey was used to advance the understanding of the structural geology of the surveyed areas as well as to provide specific drill targets at discrete conductors, resistors and structural intersections.

The survey was flown in two distinct blocks, an eastern block covering the Burns and "B" Block exploration areas and a western block covering the large "C" Block exploration area. Interpretation of the data on the western block is complete and  numerous drill targets have been identified on the "C" Block. The cesium magnetic data from the "C" Block survey show clear evidence of mafic volcanic rocks in the northern portion of the property. These rocks are separated from interpreted intermediate volcanic rocks by a sharp contact that is very likely a fault. The interpreted fault contact and the area of interpreted intermediate volcanic (dacite or equivalent) rocks present top quality drill targets at the "C" Block. Drill testing of this area is planned for the beginning of 2012.

Bayfield's properties are ideally located with easy access to roads and power. Ontario has low political risk and the Rainy River District has skilled labour and is one of the lowest-cost areas for mineral exploration and development in Canada.

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