Vancouver, BC, August 16, 2007 ─ Bayswater Uranium Corporation (TSX-V: BAY) is pleased to report the Company has been advised by the TSX Venture Exchange ("the Exchange") that its listing classification has been upgraded from Tier 2 to Tier 1.

Tier 1 is the Exchange�s premier tier and is reserved for the Exchange�s most advanced Issuers with the most significant financial resources. Tier 1 Issuers benefit from decreased filing requirements and improved service standards.

"We are pleased to be part of a select group of companies with premier listing status," said George Leary, President of Bayswater Uranium Corp. "Our top classification is a reflection of our dynamic growth, strong financial position, and excellent management team."

Bayswater�s trading symbol remains BAY.

In other news, the Company advises that it has determined not to proceed with the granting of 1,600,000 options as announced on August 3, 2007 and has cancelled such options.

About Bayswater Uranium Corporation - The Super Junior^TM Uranium Company

Bayswater Uranium Corp. is a rapidly growing international uranium exploration and development company. As 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 is a leader in uranium exploration in Canada, the world�s largest producer of uranium. The Company also owns several advanced uranium properties in the United States that are being fast tracked to production. Bayswater combines a balanced portfolio of exploration and development projects with the uranium expertise of its technical and managerial teams. The result is a Super Junior^TM Uranium Company with the share liquidity and market capitalization to provide value to both the retail and institutional investor. Bayswater is listed on the TSX Venture Exchange under the symbol BAY. For further information visit www.bayswateruranium.com.