Additional Drilling Significantly Expands Anna Lake Uranium Deposit at

Central Mineral Belt Uranium Project, Labrador

Highlights

�  Drilling nearly doubles strike length of deposit from 340 meters to 600 meters

�  Best drill intersection from current results returns 18.55 meters grading 0.05% U3O8 and 0.025% Mo (molybdenum)

�  Deposit open in all directions

Vancouver, BC, December 10, 2007 ─ Bayswater Uranium Corporation (TSX-V: BAY) (OTC: BYSWF) is pleased to report additional drill results from its Anna Lake uranium discovery located on the Company�s 100% owned property in the Central Mineral Belt, Labrador.  Wide spaced, step-out drilling has increased the overall strike length of the main Anna Lake Zone from 340 meters to 600 meters.  Highlights from current drill results include an approximate true width intersection grading 0.05% U3O8 over 18.55 metres including 0.11% U3O8 over 5.5 meters.  Molybdenum credits continue to accompany uranium and may significantly increase the total combined mineral value of the deposit.

Exploration and drilling has been completed on the Company�s Central Mineral Belt Uranium Project for the 2007 field season.  A total of 68 diamond drill holes were completed during 2007 for 15,231 meters of core recovery on various prospects, including Anna Lake, within the Company�s 1.1 million acre landholdings. Uranium assay results have now been received for all holes drilled during 2007.  Only partial results have been received for an ICP-42 multi-element suite of analyses due to the significant backlog of samples at the laboratory.  The Company previously released results for 54 holes, including 28 holes from Anna Lake, from the 2007 program as announced in a news release dated October 29^th, 2007.  Anna Lake highlights from the October 29^th release included significant intersections of 0.07% U3O8 over 40 meters and 0.05% U3O8 over 25 meters (including 0.11% U3O8 over 6.0 meters). 

The latest round of drilling on the main Anna Lake Zone was designed to test strike extensions of the main zone to the north and south using 100 meter step-outs.  Additional wide spaced infill pattern drilling was also completed.  This combined drilling included an additional 13 holes.  The program was successful in obtaining hole to hole correlation of the main mineralized zone for an additional 260 meters of strike length.  The zone, as currently defined by drilling, has a strike length of 600 meters, vertical depth of up to 230 meters and approximate true widths of up to 25 meters; importantly, it remains open in all directions.  

Table 1 provides assay highlights from the current round of drilling at the Anna Lake deposit.

Table 1 � Analytical Results � Uranium & Molybdenum

Anna Lake Prospect

The Company is currently compiling and evaluating all drill data collected to date.  A 3D-model of the Anna Lake deposit is near completion and will be useful to better understand geometry and possible structural and geologic controls on mineralization and to provide a guide for further drilling. 

The potential, of a higher grade system at depth, as demonstrated at some of the other deposits in the district, has yet to be evaluated�and, will be one of the Company�s prime objectives next year when drilling resumes. 

Also, as announced in a news release dated November 27, 2007, numerous additional geophysical and geochemical targets remain to be drill tested along a favourable 10 km structural corridor centered over and to the northeast of the Anna Lake deposit.

Additional drilling is planned to resume again in the early spring of 2008 from a base camp to be established on site at Anna Lake. 

Mr. George Leary, President of Bayswater states: �The Company�s 2007 Central Mineral Belt, Labrador drilling campaign has demonstrated a significant milestone for the Company in the discovery of the Anna Lake deposit.  Continued drilling next year will be focused on expanding the deposit�both along strike and at depth and bringing the resource into NI 43-101 compliance.  Significant potential remains within our large landholdings for further discoveries, and drilling of additional target areas will continue next year.� 

An updated drill hole location map will be available on Bayswater�s website at www.bayswateruranium.com. 

Sample handling consists of shipping one half of split drill core samples to Activation Laboratories Ltd. sample preparation facility in Goose Bay, Labrador, where the samples are crushed, pulverized and split.  Sample pulps are then forwarded to Ancaster, Ontario for analyses. Uranium analysis is performed using the delayed neutron counting (DNC) method.  A multi-element inductively coupled plasma mass spectrometry (ICP-42) is performed as well on all samples.  Where uranium values exceed the upper limit of 1%, samples are re-assayed using X-ray fluorescence (XRF).  A rigorous quality control/assurance program was instituted for the sampling and analytical work.  Control samples, consisting of three separate standards were inserted in the sample stream approximately every 25 to 30 samples.  To date, this program has shown that the analyses are reliable.  The Company intends to implement a more rigorous QA/QC program during its 2008 drilling program.

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 Aurora Energy Resources Inc. (TSX: AXU) and at the Moran Lake
deposit by Crosshair Exploration & Mining Corp. (TSX-V: CXX). Collectively, approximately 100 million pounds of NI 43-101 compliant uranium resources have been reported in the Central Mineral Belt by Aurora and Crosshair, a figure that is expected to increase significantly in the coming years through increases to existing resources, as well as new uranium discoveries.  Bayswater Uranium is the largest landholder in the Central Mineral Belt with interests in 4,626 sq km of strategic landholdings; Aurora controls about 800 sq km and Crosshair approximately 640 sq km. Bayswater is aggressively exploring several uranium targets within its landholdings with the objective of discovering new uranium resources.

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

Bayswater Uranium Corporation 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�.   The Company�s website is 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

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