Richfield Reports Initial Drill Holes on 100% Owned Portion of Blackwater - Gold Project - British Columbia

Including 32 Metres @ 5.46 g/t Gold, Within 260 Metres @ 1.57 g/t Gold and 65 Metres @ 3.65 g/t Gold Within 168 Metres @ 1.82 g/t Gold

QUESNEL, Canada, July 26, 2010 - Richfield Ventures Corp. ("RVC" or the "Company") (TSXV:RVC) is pleased
to announce the results for the first five drill holes from the 2010
exploration drill program at its wholly owned portion of the Blackwater Gold
Project, BC (NR July 22, 2010).

The holes were drilled from two collar locations about 405 metres apart.
Two holes, BW 64 and 65 were drilled from the collar of previously released
hole BW 46 (207.25 metres @ 1.06 g/t Au, NR September 21, 2009). Three holes,
BW 66, 67 and 68, were drilled from a location 405 metres to the west,
roughly 143 metres southwest of previously release hole BW 48 (1.26 g/t Au
over 148 metres: NR September 29, 2009).

BW 64 intersected gold mineralization from the collar to near the bottom
of the hole with good continuity of gold values. From bedrock to 267 metres
the hole averages 1.57 g/t gold including a 32 metre interval of 5.46 g/t
gold between 212 to 244 metres. As with earlier holes gold values appear to
be independent of rock type.

BW 65, was drilled northwest at -50 degrees from the same collar towards
previously released hole BW 59 (361 metres of 1.25 g/t Au within 455 metres
of 1.03 g/t Au; see NR May 6, 2010). BW 65 graded 0.88 g/t gold over 198
metres; including 25.6 metres of 2.24 g/t gold.

BW 66 was drilled to the south testing a chargeability anomaly defined in
the 2010 induced polarization geophysical survey. Gold values are highest in
the silicified breccia section at the top of the hole where a 38 metre
interval averages 1.34 g/t Au.

BW 67 drilled eastward at -50 degrees to a depth of 378.69 metres
intersected a 37 metre interval averaging 1.04 g/t gold.

The third hole from this collar, BW 68, was drilled vertically to a depth
of 431.44 metres and intersected 227 metres of 1.51 g/t gold between 22 and
249 metres, with a high grade interval of 66 metres grading 3.65 g/t gold.

              From(m) To (m) Interval(m) Goldg/t Silverg/t
    BW 64        6.71    267      260.29    1.57       6.7
    including      28     48          20    2.42       9.4
    and           212    244          32    5.46       8.8
    BW 65          37    235         198    0.88       6.2
    including      57   82.6        25.6    2.24      17.9
    and         84.12  90.53        6.41    4.44       9.5
    BW 66          20    283         263    0.44       2.4
    including      54     92          38    1.34       3.5
    and            88     92           4    4.39       4.1
    BW 67           8    204         196    0.41       2.5
    including     147    184          37    1.04       3.7
    BW 68          22    249         227    1.51       5.7
    including      22    190         168    1.82       6.7
    and            62    128          66    3.65      11.7
    and            52    153         101    2.64         9

The drill results demonstrate continuity of grade and expand the size of
the mineralized area, enlarging it to the east and south from the Dave Zone.

Widths reported are drill widths; true widths are unknown. Assays are
uncut, length-weighted average values. See drill map on the company website.
www.richfieldventures.ca/s/Blackwater.asp?ReportID=379109

A three dimensional display of these and earlier drill results is posted
on www.corebox.net/properties/blackwater/

Work Program

Drilling on the 100% owned portion of the Blackwater Gold Project is
ongoing, with 25 additional holes planned in this expanded discovery area. A
second drill is being mobilized to site, with an anticipated start up date in
early August. The project can be worked year round, and the camp is being
upgraded to an all season base to facilitate the increased drill program.

Quality Assurance

Richfield has implemented a rigorous quality assurance/quality control
program at the Blackwater property using best industry practice and
supervised by Dirk Tempelman-Kluit. The program includes chain of custody of
samples from drill to laboratory. Drill core is sawn in half at the property
and for each sample half of the core from one metre intervals is placed in
plastic bags and sealed. The remainder is retained in core boxes stored at
the project camp.

A standard sample, a blank sample, or a duplicate sample is inserted into
the sample stream every tenth sample. Five certified ore assay laboratory
standards are used in the program, and are supplied by CDN Resource
Laboratories Ltd., an independent laboratory located in Langley, BC. Samples
including the blanks, standards and duplicates, are shipped by bonded courier
to Eco Tech Stewart Group Laboratories in Kamloops, BC, an internationally
recognized analytical services provider. Rejects selected at random are sent
to Acme Labs of Vancouver, BC for check assays. Some 15% of all samples were
reanalyzed for check assay. Richfield has not detected significant QA/QC
issues during review of the data.

The scientific and technical information contained in this news release
was prepared under the supervision of Dirk Tempelman-Kluit Ph.D, FGAC, VP
Exploration for Richfield Ventures Corp, and has been reviewed by Lindsay
Bottomer P.Geo., who is an independent "Qualified Person" as defined under
National Instrument 43-101.

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.

For further information contact:

    Peter Bernier, President
    Richfield Ventures Corp.
    101-242 Reid Street
    Quesnel, BC V2J 2M2
    Toll Free 1-877-992-6644
    Phone: +1(250)992-6644
    Fax: +1(250)992-6643
    pete@richfieldventures.ca
    www.richfieldventures.ca

Peter Bernier, President, Richfield Ventures Corp., 101-242 Reid Street, Quesnel, BC V2J 2M2, Toll Free 1-877-992-6644, Phone: +1(250)992-6644, Fax: +1(250)992-6643, pete at richfieldventures.ca