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Bayswater & Ucore Joint Venture Mutual Claims in Previously
Exempt Area for Staking in Labrador Uranium District
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Vancouver, BC, August 1, 2007 - Bayswater Uranium Corporation (TSX-V: )
is pleased to announce it has entered into a letter agreement dated
July 27, 2007 with Ucore Uranium Inc., (TSX-V: ) whereby Bayswater and
Ucore will form a joint venture in respect of their mutual uranium
properties, comprising a combined total of 829 claims, located in
previously exempted land for exploration along the northeastern
extension of the Central Mineral Belt uranium district, Labrador (the
"Properties" and otherwise referred to as the Makkovik Project). Each
party will have the exclusive option for a period up to August 31, 2008
to enter into a joint venture in respect of the Properties, by
contributing to a first year budget on the Properties of $400,000.
Bayswater shall contribute 66 2/3% to the first year budget and Ucore
shall contribute 33 1/3% to the first year budget. Bayswater will be
the operator of the Makkovik Project during the option period and
pursuant to the joint venture, once formed. Upon completion of the
first year work program, as contributed to by the parties as noted
above, Bayswater and Ucore will form a joint venture and each of
Bayswater and Ucore shall be deemed to have acquired an undivided 50 %
interest each in and to the Properties. The agreement is subject to the
approval of the TSX Venture Exchange.

The Makkovik Project area is characterized by anomalous uranium
contents in lake sediment samples and by local uranium occurrences to
the northeast of the Jacques Lake and Otter Lake uranium occurrences of
Aurora Energy Resources Inc. The Company is planning to commence an
airborne radiometric and magnetic survey of the project area claims by
NovaTem immediately and will subsequently carry out follow-up
prospecting of priority radiometric anomalies this summer.

About Bayswater Uranium Corporation - The Super Junior 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 Uranium Company with the share liquidity and market
capitalization to provide value to both the retail and institutional
investor. To capitalize on the strong growth of the nuclear industry
and to continue to add shareholder value, Bayswater is pursuing
additional merger and acquisition opportunities that complement and/or
add to the Company's existing assets and business model. For further
information visit www.bayswateruranium.com.

On behalf of the Board of:
BAYSWATER URANIUM CORPORATION

George M. Leary
President

For further information contact:
John Gomez - Manager, Investor Relations
Telephone: (604) 687-2153

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents herein.

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Copyright (c) 2007 BAYSWATER URANIUM CORPORATION (BVE) All rights
reserved. For more information visit our website at
http://www.bayswateruranium.com/ or send
mailto:info@bayswaterventures.com
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