BAYSWATER URANIUM CORPORATION

510 Burrard Street, Suite 510
Vancouver, B.C. V6C 3A8
Tel:  (604) 687-2153
www.bayswateruranium.com

NEWS RELEASE

Vancouver, BC, December 17, 2007 ─ Bayswater Uranium Corporation (TSX-V: BAY) (OTC: BYSWF) is pleased to report that five high priority basement conductive zones have been located at its Brudell Lake Property in the Athabasca Basin, Saskatchewan. The uranium exploration targets were identified by an airborne geophysical survey conducted over an area of the western Athabasca Basin that has never before been tested by systematic exploration.

A 14,000 line km, deep penetrating VTEM survey was flown earlier this year by Geotech Ltd. over Bayswater�s 100% owned 1.7 million acre Brudell Lake Property.  Due to the large scale of the project, geophysical interpretation has only recently been completed, first by Condor Consulting Inc., specialists in processing this type of complex survey to identify and prioritize the conductors, and then by Paterson, Grant and Watson Ltd., who completed a structural interpretation of the magnetics in context with the conductive zones.

Five conductors, ranging in length from 3 km to over 7 km, occur in an area of the property which shows strong structural uplifts and downdrops associated with ENE-WSW to NE-SE regional basement faults.  The conductors range in interpreted depth from 500 to 1,000 metres.

Due to the thick cover of Athabasca sandstone and absence of any drilling in the 1.7 million acre property, the basement geology of this area is unknown and interpretive.  C. Card of the Saskatchewan Northern Geological Survey Branch recently presented a paper in Saskatoon (December 5, 2007) that suggests the area may be underlain in substantial part by metasediments.  Metasediments in other areas of the Athabasca Basin host high-grade ore reserves such as at Cameco Corp�s (TSX: CCO) McArthur River mine and Cigar Lake deposit, as well as a number of other high-grade uranium deposits including Shea Creek, operated by AREVA Resources Canada Inc. and UEX Corp�s (TSX: UEX), and the Midwest Lake deposit owned by Denison Mines (TSX: DML) and AREVA, who  recently announced plans to put the deposit into production.

In preparation for drill testing of the targets, it is the Company�s intent to conduct gravity and deep penetrating resistivity surveys, in conjunction with large loop electromagnetic surveys over the priority area during the first part of 2008, in order to more precisely define basement faults in coincidence with electromagnetic conductors.   This relationship may be reflective of favourable graphitic conductors in association with major faults, fundamentally important parameters in regards to unconformity-type uranium deposit emplacement.                  The Company has applied for land use permits and has secured a geophysical contractor to conduct the work.

�We are excited about testing an area of the Athabasca Basin that so little is known about, yet demonstrates geophysical characteristics of most Athabasca deposits,� states Victor Tanaka, Chief Operating officer of Bayswater.

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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