Richfield Fulfills Expenditure Requirement on Dave Property and Provides Blackwater Gold Project Update

Friday, Jul 23, 2010

Richfield Ventures Corp. (TSX.V:RVC) "Richfield" or the "Company" is pleased to announce that it has fulfilled the expenditure requirement to earn-in a one hundred (100%) percent interest in the Dave Property, the southern portion of the Blackwater Gold Project. To complete the option exercise, Richfield must pay a further $160,000 and issue 130,000 shares over the next three years. The Dave Property is subject to a 2.5% NSR, 1% of which may be purchased for $1,000,000.

Blackwater Project Update

The Company is continuing with regional drilling to define the limits of five defined IP anomalies that appear to be associated with gold mineralization. Richfield is receiving assay results for a number of holes collared on the Dave portion of the Blackwater Project and expects to report those results on Monday, July 26, 2010. Improvements to the access road and construction of the new camp are near completion and the second drill is expected to be mobilized next week.

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 Nechako Plateau region of British Columbia.

  On behalf of the Board of Directors of Richfield Ventures Corp.  "Peter Bernier"  Peter Bernier, President

Certain statements in this press release may be considered forward-looking information, which, in many cases, can be identified by use of words such as "may", "will", "expect", or "plan". Such information involves known and unknown risks, uncertainties and other factors - including the 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 - 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, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source: PR Newswire