Passport Management, LLC reports its control over 8.40% of the securities of Richfield Ventures Corp.



    SAN FRANCISCO, May 11 /CNW/ - PASSPORT MANAGEMENT, LLC ("Passport")
announced today that it has filed an early warning report with the Canadian
securities regulatory authorities concerning its control over 1,948,000 common
shares of Richfield Ventures Corp. ("Richfield") (RVC), representing 8.40% of
the 23,189,495 common shares referred to as being issued and outstanding as
per Richfield's most recent MD&A dated March 10, 2009 (the "Shares
Outstanding").
    Passport is an investment manager with full investment discretion with
regards to various investment funds, including Passport Materials Master Fund,
LP ("Materials Fund"). As such, Passport controls the 1,948,000 common shares
of Richfield that are beneficially owned by the Materials Fund. Prior to May
7, 2009 Materials Fund beneficially owned 1,948,000 common shares and
2,000,000 common share purchase warrants which represented 15.67% of the
23,189,495 issued and outstanding shares as per Richfield's most recent MD&A
dated March 10, 2009 ("Shares Outstanding"). On May 7, 2009 the common share
purchase warrants owned by Materials Fund expired causing the sole remaining
ownership to be 1,948,000 common shares which represents 8.40% of the Shares
Outstanding.
    Passport has purchased common shares and warrants of Richfield on behalf
of the Materials Fund for passive investment purposes and not with a view to
influence management or the direction of the company. The Funds controlled by
Passport may, as investment conditions warrant, acquire further securities or
dispose of their respective holdings of securities of Richfield.

    Passport Management, LLC is located at 30 Hotaling Place, Ste. 300, San
Francisco, CA 94111.





For further information:

For further information: Michele Clifford at (415) 321-4610 or
michele@passportcapital.com

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PASSPORT MANAGEMENT, LLC

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