BPV Bridgeport Ventures Inc. (Tier2)

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Bridgeport Ventures Inc. (TSX VENTURE:BPV)("Bridgeport" or the "Company") is
pleased to announce that it has closed its previously announced non-brokered
private placement financing, pursuant to which it has issued an aggregate of
12,590,000 units ("Units") at a price of $1.00 per Unit to raise aggregate gross
proceeds of $12,590,000. Each Unit consists of one common share of Bridgeport
and one share purchase warrant (a "Warrant"), each Warrant entitling the holder
to acquire one additional common share of Bridgeport until December 1, 2012 at
an exercise price of $1.50 per share. All securities issued in connection with
the financing are subject to a statutory hold period expiring on April 2, 2010.


Hugh Snyder, Chairman of Bridgeport, stated: "We exceeded our expectations and
raised over $12,000,000 to fund the continued gold-copper exploration and
development of our Rosario property in Chile. Proceeds from this financing may
also be earmarked to identify and prospect other high quality copper-gold
properties in the Latin American region, and for general corporate purposes."


In connection with the private placement, Bridgeport has paid finder's fees in
the aggregate amount of $503,400 to certain qualified registrants assisting in
the offering, and issued an aggregate of 521,200 compensation warrants
("Compensation Warrants") to such finders. Each Compensation Warrant entitles
the holder to acquire one common share of Bridgeport at an exercise price of
$1.00 per share for a period of one year from the date of issuance.


The private placement remains subject to the final approval of the TSX Venture
Exchange.


Forward Looking Statements - Certain information set forth in this news release
may contain forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control of
Bridgeport, including, but not limited to the impact of general economic
conditions, industry conditions, volatility of commodity prices, risks
associated with mining activities, currency fluctuations, dependence upon
regulatory approvals, the availability of future financing and exploration risk.
Readers are cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be placed on
forward-looking statements.

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