11/3/2009 (BAYSTREET NEWSWIRE)

November 3, 2009 -- Quesnel, British Columbia: Richfield Ventures Corp. (TSX-V:RVC) "Richfield" or "the Company" announced that it has adopted a Shareholder Rights Plan (the "Rights Plan").

The Rights Plan, which is effective immediately but is subject to regulatory and shareholder approval, will provide the Board of Directors of the Company and the shareholders with more time than otherwise allowed for under existing Canadian legislation to fully consider any unsolicited take-over bid for the Company. It will also allow more time for the Board of Directors to pursue, if appropriate, other alternatives to maximize shareholder value. Shareholders will be asked to confirm the Rights Plan at the Annual and Special General Meeting to be held on December 10, 2009. If this confirmation is not received, the Rights Plan will terminate.

The rights issued under the Rights Plan become exercisable only when a person, including any party related to it or acting jointly with it, acquires or announces its intention to acquire 20% or more of the Company's outstanding common shares without complying with the "Permitted Bid" provisions of the Rights Plan. Should such an acquisition occur, each right would, upon exercise, entitle a rights holder, other than the acquiring person and related persons, to purchase common shares of the Company at a 50% discount to the market price at the time. Certain holdings of common shares, such as positions held by investment managers, trust companies for managed accounts and pension plans will not trigger the Rights Plan unless the holders are participating in making a takeover bid for the Company.

Under the Rights Plan, a Permitted Bid is a bid made to all shareholders that is open for not less than 60 days. If at the end of the 60 days at least 50% of the outstanding shares, other than those owned by the offeror and certain related parties, have been tendered, the offeror may take up and pay for the shares but must extend the bid for a further 10 business days to allow other shareholders to tender.

The Rights Plan was not adopted in response to, or in anticipation of, any specific effort to acquire control of the Company and is not aimed at blocking bids, but is designed to ensure that any acquisition of control is through a public offer to all shareholders and that sufficient time is available to evaluate any offer. The Rights Plan is similar to plans adopted by other Canadian public companies.

About Richfield Ventures Corp.

Richfield Ventures Corp. is a public mineral exploration company trading on the TSX Venture Exchange under the symbol RVC. Richfield has been actively acquiring and exploring mineral tenures in the Quesnel Trough and Nechako Plateau regions of British Columbia.

On behalf of the Board of Directors of Richfield Ventures Corp.

"Peter Bernier"

Peter Bernier, President

For further information contact:

Peter Bernier, President Richfield Ventures Corp. 101-242 Reid Street Quesnel, BC  V2J 2M5   Toll Free 1-877-992-6644Phone: (250) 992-6644     Fax: (250) 992-6643 pete@richfieldventures.ca   

Certain statements in this press release may be considered forward-looking information, including those relating to the "expectations", "intentions" or "plans" of the Company. Such information involves known and unknown risks, uncertainties and other factors -- including the approvals of regulators or shareholders, availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, project cost overruns or unanticipated costs and expenses and other risks identified by the Company in its public securities filings -- that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Back