RVC UpdateIt's a good sign that RVC is exercising their 75% option on the Davidson property.
Richfield Exercises 75% Option on the Davidson Property
7/30/2010 8:30 AM - Canada NewsWire
QUESNEL, BC, Jul 30, 2010 (Canada NewsWire via COMTEX News Network) --
RichfieldVentures Corp. (TSX.V:RVC) ("Richfield" or the "Company") is pleased toannounce that it has given notice to Silver Quest Resources Ltd. ofexercise of its two-stage option to acquire a seventy five (75%) percentinterest in the Davidson Property, the northern portion of theCompany's Blackwater Gold Project.
Richfield and Silver QuestResources Ltd. will hold 75% and 25% interests, respectively, in theDavidson Property joint venture, subject to a third party 2% NSR (whichmay be purchased for $2,000,000).
In connection with the deliveryof notices of exercise to Silver Quest of the initial 60% option andthe additional 15% option (cumulative 75% interest) on the DavidsonProperty, Richfield issued 100,000 common shares on July 13, 2010, and200,000 common shares on July 27, 2010. In addition, Richfield has givennotice to Silver Quest that it has incurred the minimum expenditurerequirement of $1,500,000 and has made cash payments to Silver Questtotaling $240,000. The Richfield common shares issued in connection withthe exercise are subject to a four month hold period.
About Richfield Ventures Corp.
RichfieldVentures Corp. is a public mineral exploration company trading on theTSX Venture Exchange under the symbol RVC. Richfield has been activelyacquiring and exploring mineral tenures in the Nechako Plateau region ofBritish Columbia. On behalf of the Board of Directors of RichfieldVentures Corp.
"Peter Bernier"
Peter Bernier, President
NeitherTSX Venture Exchange nor its Regulation Services Provider (as that termis defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
SOURCE: Richfield Ventures Corp.
PeterBernier, President, Richfield Ventures Corp., 101-242 Reid Street,Quesnel, BC, V2J 2M2, Toll Free 1-877-992-6644, Phone: (250) 992-6644,Fax: (250) 992-6643, pete@richfieldventures.ca, www.richfieldventures.ca