Bayswater Provides Review of Land Position and Significant Results From 2008 Exploration Program, Central Mineral Belt, Labrador

VANCOUVER--(Business Wire)--
Bayswater Uranium Corporation (TSX-V: BAY) (OTC: BYSWF) would like to provide
shareholders with an update on its current land position and review of 2008
exploration results for the Labrador Central Mineral Belt Uranium Project. The
Company continues to hold the largest land position in the district, with a 100%
interest in 504,157 acres of prospective ground and an additional 50% interest
in 28,664 acres of joint venture land with Ucore Uranium Inc. (TSX-V: UCU). Over
the past year, Bayswater has significantly reduced its land package from over
1.2 million acres to hold only the most prospective claims. Within this land
package, exploration expenditures have been sufficient to retain the highest
priority target areas for a minimum of three years and up to nine years as with
the case of its Anna Lake claims.

Anna Lake Deposit Update

Highlighting the 2008 program was the significant expansion of the Anna Lake
Uranium Deposit as a result of an aggressive wide spaced drilling program (see
press release dated Feb. 17, 2009). An overview of the Anna Lake Deposit can be
found on the Company`s website at www.bayswateruranium.com.

A petrographical report of 22 core samples from the Anna Lake Deposit has been
completed by Dr. Derek Wilton from the Department of Earth Sciences at Memorial
University of Newfoundland. The work has provided a better understanding of the
uranium mineralization at Anna Lake. The following summarizes some of the key
findings from Dr. Wilton`s report:

* The host rocks appear to be correlative with the Post Hill Group; host of the
Kitts Uranium Deposit.
* Uraninite is the main uranium-bearing phase present at Anna Lake. In areas of
uranium mobilization, very minor coffinite is locally developed.
* Aside from silicate hosts (biotite and hornblende), uraninite is intergrown
with pyrrhotite, molybdenite, and zircon.
* Nickel and cobalt arsenides have been identified in some samples. The
arsenides, while not intergrown with uranium-bearing phases at Anna Lake, have
been reported from uranium deposits in the Athabasca Basin and Great Bear Lake
districts.
* Biotite-bearing units are paragneiss/paraschist (i.e., derived from
sedimentary protolithologies.) The amphibolites may represent mafic
volcaniclastic lithologies.
* The metamorphic rocks contain garnets which, in some samples, are
pre-kinematic and in others, are syn-kinematic. Uraninite is present as minute
inclusions in pre-kinematic garnets, suggesting that a distinct uranium phase
was present in the host rocks prior to, at least later, metamorphic events.
* Very preliminary, and insufficient, U-Pb data suggest that zircons in the
meta-sedimentary host rocks might have been derived as detritus from the
weathering of Archean granites of the Nain Province; further supporting the
correlation of the host rocks with the Post Hill Group. The U-Pb data also
suggest that the host rocks were affected by the Grenvillian Orogeny. More work
is required to fully confirm these preliminary conclusions.

Additional petrographical studies along with specific gravity determinations
will be implemented by the Company during 2009.

New Discoveries in 2008

Additional highlights from the Company`s 2008 regional exploration program
include the discovery of two new high priority areas found to contain
significant uranium showings. Both discoveries were made late in the 2008 field
season and have received only cursory exploration efforts to date. The Boiteau
Lake Uranium Trend and the Minisinakwa Lake Showing represent some of the most
significant uranium mineralization encountered on the Company`s land holdings
since it began exploring the area in 2006. Results of sampling on both zones
have been made public in press releases dated November 20, 2008 and September
30, 2009 respectively. Continued ground exploration in the Anna Lake vicinity
including geological mapping, geophysical, geochemical and radon flux surveys
also provided encouraging results.

The Company is please to announce that it has received a JEA Grant from the
Newfoundland and Labrador Department of Natural Resources for exploration in the
Boiteau Lake area. A detailed ground exploration program consisting of ground
soil geochemistry, geophysics, mapping and prospecting is anticipated to begin
in early July, 2009. A decision on work to be performed on the Minisinakwa
Showing is currently under review. A summary of the 2008 discovery areas has
been provided below:

Boiteau Lake Uranium Trend

The Boiteau Lake Uranium Trend is hosted within mid paleoproterozoic rock units
of the Joe`s Pond Formation and contains a variety of lithologies including
mafic volcanics, sandstones, conglomerates, chert, argillites, schist, gneiss
and pegmatites. The Joe`s Pond Formation partially hosts the Moran Lake Deposit
and numerous uranium prospects held by Crosshair Exploration & Mining Corp.
(TSX: CXX). Four new bedrock uranium showings have been discovered along a five
kilometer structural corridor as interpreted from airborne magnetics, landsat
imagery, air photo interpretation and ground investigation. This mineralized
trend represents a portion of a larger structural feature that can be traced
across the Company`s property for over 12 kilometers and is thought to hold
excellent potential for uranium deposits. Results from the initial prospecting
program in the area have returned very encouraging results. Based on 28 rock
samples collected, 23 returned values greater that 0.10% U3O8
with the best outcrop sample assaying 0.723% U3O8. Uranium mineralization
in all showings either occurs in carbonate altered shears and veinlets or in
fractured and gossanous metapelitic sediments dominantly hosted within the mafic
volcanic units. Several of the showings appear to occur along splays off the
main structure and all are associated with discrete magnetic highs.

One additional bedrock showing located near the southern portion of the Boiteau
Lake Trend has also been identified. This showing is hosted within the late
paleoproterozoic Bruce River Belt of sediments and lies along strike and is
hosted in the same lithology as the newly discovered Apollo Zone held by
Crosshair. Limited sampling from outcropping conglomeratic units at this new
showing assayed up to 0.786% U3O8.

Minisinakwa Lake Uranium Showing

The Minisinakwa Lake Showing is hosted within late paleoproterozoic, mylonitized
felsic volcanic rocks of the Bruce River Group. High grade uranium
mineralization is commonly associated with magnetite banding within the
volcanics. The showing is characterized by a series of large, very angular and
frost heaved flagstone boulders strung out in an east northeast orientation for
a traceable distance of over 650 meters. The boulders disappear under the lake
on the eastern side of the boulder train. All mineralized boulders are located
within a linear depression that correlates directly with a linear magnetic high
anomaly readily noted in airborne and ground survey data. This magnetic feature
can be traced continuously for at least 3.5 kilometers. During 2008, 29 samples
were collected from the area by prospectors and geologists. Highlights from the
sampling returned assay values of up to 3.48% U3O8. Of the 29 samples collected,
5 returned assays greater than 1% U3O8 with 26 greater than 0.10%.U3O8.

Ground follow-up work performed on the Minisinakwa Lake Showing during 2008
included a 32 line kilometer GPS based ground magnetometer survey and a seven
hole reconnaissance drill program. The magnetometer survey was implemented in an
attempt to better define the magnetic anomaly noted from airborne surveys. The
magnetic anomaly was initially interpreted to be related to the uranium
mineralization. Drilling of this anomaly in the immediate area of the
mineralized boulders however, proved unsuccessful in intersecting the same host
lithology as the mineralized boulders. The drill program was designed to test
the magnetic anomaly in six different localities along a 2.4 kilometer strike
length. It is currently believed that the high grade uranium boulders have come
from a proximal source which has yet to be identified.

Anna Lake Corridor

The land holdings around the Anna Lake Deposit represent a high priority
exploration target where excellent potential exists for new discoveries. As a
continuation to detailed ground work performed during 2007, additional grid
establishment, soil geochemistry, ground induced polarization/resistivity,
magnetometer, radon flux surveys and geological mapping were implemented on a
large grid covering the Anna Lake area. A total of 54.5 line kilometers of grid
establishment, 1686 "B" horizon soils, 72.4 line kilometers of IP/Resistivity,
16.75 line kilometers of magnetics and 2355 radon flux measurements were
completed during the 2008 field season. The results of this ground exploration
have provided a better geological understanding of the area and have outlined
several targets requiring follow-up investigation. The Anna Lake Deposit is
located along the southern edge of a 12 kilometer structural corridor that runs
through the Bayswater claims and where repetition of the Post Hill Group
mineralized sequence has been confirmed discontinuously along the length of the
trend. As part of the 2008 exploration program, several of the targets were
drill tested with some minor intersections of uranium being noted. Numerous
other areas will require further field investigation and drill testing.

Additional Discoveries During 2006-2007 Warranting Further Exploration Including
Drilling

Additional targets held by the Company warranting further work include the
Jean`s Pond, Dandy, Kanairiktok Bay, Ghost Lake, Stomach Lake, Stipec River,
Lewis Lake and Michinappi Lake prospects. While the Company intends to focus its
exploration efforts on its advanced exploration projects including Anna Lake, it
plans to farm-out claim blocks covering these target areas through joint
venture, option or purchase arrangements. For further information on these
targets, please visit the Company`s website.

The Company`s exploration activities are conducted under the supervision of
George M. Leary, M.Sc. P. Eng. (BC), President of the Company, and Victor
Tanaka, B.Sc. P.Geo. (B.C.), Chief Operating Officer of the Company. Both are
qualified persons under NI 43-101. George Leary is the qualified person
responsible for the technical information in this news release.

About the Labrador Central Mineral Belt

The Central Mineral Belt of Labrador, Canada, located approximately 135
kilometers north of Goose Bay, has a long history of uranium and base metals
exploration. Uranium was first discovered in the belt in the 1950's. With
further exploration in the 1960's and 1970's and rising uranium prices,
exploration in the region increased significantly and several uranium deposits
were discovered including the Kitts, Michelin, Inda, Nash, Rainbow and Moran
Lake deposits by Brinco. Today, exploration activity in the region is
highlighted by resource drilling at the Michelin and Jacques Lake deposits by
Fronteer Development Group Inc. (TSX: FRG) and at the Moran Lake deposit by
Crosshair Exploration & Mining Corp. Collectively, over 145 million pounds of NI
43-101 compliant uranium resources have been reported in the Central Mineral
Belt by various companies, a figure that is expected to increase significantly
in the coming years through increases to existing resources, as well as from new
uranium discoveries. Bayswater Uranium is the largest landholder in the Central
Mineral Belt with interests in about 532,000 acres in the heart of the belt. At
the end of the 2008 field season, Bayswater discovered several new uranium
targets, including a 5 km uranium trend at Boiteau Lake, with sample values up
to 0.72% U3O8. Further information on the Central Mineral Belt is available at
www.bayswateruranium.com/s/CMB.asp.

About Bayswater Uranium Corporation - The Super Junior Uranium Company
TM

Bayswater Uranium Corporation is an international uranium exploration and
development company. The Company owns several advanced uranium properties in the
United States with significant historical resources that may be amenable to ISR
and/or conventional mining. As well, Bayswater is the only uranium company to
have major landholdings in each of Canada's most important producing and
exploration regions - the Athabasca Basin, the Central Mineral Belt, and the
Thelon Basin. Bayswater combines a balanced portfolio of advanced and
exploration projects with the uranium expertise of its technical and managerial
teams. To capitalize on current market conditions and strong growth of the
nuclear industry, the Company is pursuing acquisition opportunities of
advanced-stage uranium projects with near-term production potential. Bayswater`s
vision is to build a major international uranium company. Bayswater is listed on
the TSX Venture Exchange under the symbol "BAY". For further information visit
www.bayswateruranium.com.

On behalf of the Board of:

BAYSWATER URANIUM CORPORATION

George M. Leary
President

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.

Bayswater Uranium Corporation
John Gomez, Manager, Investor Relations, (604) 687-2153

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