Vancouver, BC, May 8, 2007 ─ Bayswater Uranium Corporation (TSX-V: BAY) reports that its due diligence review is almost complete with respect to the proposed merger with Kilgore Minerals Ltd. (TSX-V: KAU). Following the expected satisfactory due diligence, including an independent Fairness Opinion, Tax Review, Land Title Report and Viability Report on uranium exploration, development and mining in certain states in the United States all of which are completed or nearing completion, and signing of a definitive Arrangement Agreement, an Information Circular detailing the transaction will be sent to shareholders of both Bayswater and Kilgore for approval. The transaction is also subject to the approval of the TSX Venture Exchange. Closing of the transaction is anticipated to occur in July, 2007.

As the only uranium explorer 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 Uranium Corp. is well positioned to be a market leader in uranium exploration. Bayswater combines the experience of its technical and managerial teams with a large, highly prospective and diverse property base. 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. For further information visit www.bayswateruranium.com.