Northern Canadian owns a portfolio of uranium properties in 13 project areas, some with historical resources, in Canada, United States and in Mali, West Africa, and has made application for 12 uranium concessions in Niger, West Africa. Many of these properties offer considerable synergy with Bayswater�s uranium projects. In addition, two key officers and directors of NCA�namely Praveen Varshney and Keith Laskowski, will be joining the management of Bayswater along with other experienced members of NCA�s uranium exploration team.

"Northern Canadian�s key U.S. properties represent strategic assets for the development of Bayswater�s United States projects and should significantly enhance the economics of our proposed mining operations," states George Leary, President of Bayswater. "Equally as important, this latest acquisition secures the services of a talented team of highly experienced geologists and personnel capable of spearheading development of our U.S. projects and assisting with Bayswater�s exploration programs in Canada and elsewhere in the world."

Praveen Varshney, President of Northern Canadian states, "Given Bayswater�s excellent technical team and complementary projects, the combined companies create a stronger uranium company with an impressive portfolio of advanced and early-stage properties in major uranium regions in North America and West Africa, as well as a large cash position of $35 million to develop these outstanding assets."

NCA key projects that offer development synergy and immediate resource growth potential to Bayswater include the Elkhorn properties, Wyoming; Edgemont properties, South Dakota; Collins Bay property in the Athabasca Basin, Saskatchewan; Samit property, Mali, West Africa and the Carol R Mine property, Nevada. Also, four Niger concessions, once granted, will form a strategic addition to concessions that Bayswater has applied for near the Areva-operated Cominak and Somair uranium mines. NCA also owns additional properties in the Powder River Basin, Wyoming, the Great Basin, Nevada and in the Athabasca Basin, Saskatchewan with potential for discovery of additional resources. NCA has also applied for 8 concessions in the Djabo Basin, Niger�a basin similar to the Tim Mersoi Basin that hosts the current deposits being mined by Areva. Except for the Niger concessions, NCA has completed work on all these projects such that all of the key properties are at the drill stage. In the case of the Elkhorn and Mali projects, planned drilling is designed to significantly expand the historical resource base on these properties.

Elkhorn Project, Wyoming: NCA owns over 16,700 acres under Federal, State and Fee agreements in the Powder River Basin of Wyoming strategically located near Bayswater�s landholdings (Wood and New claims and five state leases comprising 5,680 acres) which, taken together, significantly enhance Baywater�s planned exploration and mine development operations in Montana and Wyoming. NCA�s Elkhorn project holdings include adjoining and nearby properties to Bayswater�s Wood claims and state leases that would facilitate expansion of uranium resources on both companies� properties, and increase the potential feasibility of mining on these projects. Based on recent compilations of prior drilling and, as confirmed in part by NCA drilling in 2006, the combined near surface historical resources on Bayswater�s and NCA�s Wyoming Elkhorn/Wood properties include the following:

(Note: Historical resources as stated above are based on Federal Resources 1973 historic reports in the Marriott Library Special Collection Archives at the University of Utah and are non-compliant with NI 43-101 standards, have not been verified by any of the Company�s Qualified Person�s, are provided for information purposes only and as such should not be relied upon. However, NCA has completed confirmation drilling and advanced a portion of the Busfield deposit to a NI 43-101 compliant resource comprising an indicated 397,000 lbs eU3O8 grading 0.08% eU3O8 and an additional inferred 5,000 lbs eU3O8 grading 0.08% eU3O8 as summarized in a report for NCA dated April 18, 2007 by Jan C. Rasmussen and Bart Stryhas of SRK Consulting.)

NCA stated in a news release dated August 9, 2007 that "The Busfield resource remains open in three directions for expansion and occurs within the central region of a 12 mile (20 km) long trend of uranium mineralization defined by historic drilling and five historic open pit mines." NCA holds four main blocks of land holdings and Bayswater holds seven along this mineralized trend. Upon closing of the acquisition, a significant drilling program comprising more than 200 drill holes to expand resources is planned on this project next year.

The potential of the Elkhorn project area, including both NCA�s and Bayswater�s land holdings, and the New claims of Bayswater, which surround the previously active Hauber mine immediately to the west of the Elkhorn project area, for open pitable roll front type uranium resources is considered excellent as indicated by many pits, small mines and uranium occurrences in the region, many of which are on NCA�s and Bayswater�s combined land holdings. Bayswater�s goal is to develop open-pitable resources in this region sufficient to support a conventional mill. Such a mill would provide synergy and considerable cost savings with respect to any potential ISR operations to be developed on the Company�s roll front deposits in Carter County, Montana and on any ISR resources defined in Wyoming.

More recently, NCA has completed geological modeling based on known deposits in the immediate area and has developed and successfully tested, over a local Cameco uranium deposit, a unique geochemical sampling technique involving conventional lake bottom sediments and peat and plant sample using commercial analytical laboratories, with on-site, real-time evaluation of radon gas extracted from pore water from the same samples. Utilizing this technique, NCA have recently completed an extensive sampling program over the favourable conductive targets within the Collins Bay Extension property. Preliminary results indicate that over 12 high priority multiple-point anomalous targets have been identified that warrant drill testing. These targets are coincident with favourable conductive zones and associated fault structures in close proximity to the Collins Bay deposits and Eagle Point mine. Drilling of these highly promising targets is planned for the first quarter of 2008.

Samit Project, Mali, West Africa: The Samit property in Mali, West Africa comprises a 1000 sq km mining concession within the Tilemsi Basin�similar geologically to the Tim Mersoi Basin located to the southeast in neighboring Niger, the 4^th largest producer of uranium in the world. Previous work by Power Reactor & Nuclear Fuel Development Corporation (PMNC) of Japan during 1974 to 1981 included over 400 drill holes to evaluate uranium-bearing apacrete occurrences in a 400 sq km area on a limestone plateau overlapping basement rocks similar to the Air Massif in Niger. Drilling outlined a historic resource comprising approximately 440,000 pounds U3O8 grading 0.085% U3O8 (Note: Historical resources as stated above are non-compliant with NI 43-101 standards, have not been verified by any of the Company�s Qualified Person�s, are provided for information purposes only and, as such, should not be relied upon.). Based on work done by NCA this year, a program of drilling to confirm and expand resources is planned for next year. In addition, NCA has recently been awarded a large exploration permit area adjacent to the Samit project resource area that adds significantly to the potential for expansion of the resource.

Carol R Mine Project, Nevada: The Carol R Mine in southwestern Nevada is centered on an historic open pit mine which produced uranium in 1955-56. Uranium mineralization is stratigraphically controlled within a mixed sequence of sediments and volcanics. State of Nevada records list one sample that assayed 0.94% U3O8. The property was drilled in 1972 and historic reports state that "significant inferred uranium resources" were identified which are non-compliant with 43-101 standards as above. The project warrants detailed surface evaluation and drilling to evaluate resource potential.

Following closing of the acquisition, the corporate goal will be to significantly expand the combined NCA and Bayswater historical uranium resources in Wyoming, bring them into NI 43-101 compliance, and begin baseline studies, permitting and licensing in order to fast track projects to production. NCA and Bayswater are in the process of initiating these plans. On the other NCA key exploration properties, including Edgemont, Collins Bay, Samit and Carol R Mine, multiple drill-ready targets have already been identified and as a result drilling programs are being planned to evaluate these attractive prospects.

NCA and Bayswater will enter into an Arrangement Agreement, whereby Bayswater will acquire NCA through its wholly owned subsidiary, Bayswater Holdings Inc. and each common share or convertible security of NCA will be exchanged for 0.65 of a Bayswater Share or convertible security (the "Conversion Ratio"). The exercise prices of the NCA convertible securities will be adjusted in accordance with the Conversion Ratio.

Following preparation of a fairness opinion by NCA and completion of satisfactory due diligence by both companies, the directors of NCA will recommend to their shareholders that they accept the Transaction as proposed, and will assist in all reasonable ways in obtaining execution and preparation of any documents, including an information circular to be presented to the shareholders of NCA.

This Transaction is subject to completion of satisfactory due diligence, a definitive Arrangement Agreement, shareholder approval of NCA and receipt of applicable regulatory approvals.

The Company�s exploration activities are conducted under the supervision of George M. Leary, MSc P. Eng. (BC), president and CEO of the Company, and Vic Tanaka, B.Sc. P.Geo. (B.C.), COO of the Company. Both are qualified persons under NI 43-101. George M. Leary, president of the Company, is the qualified person responsible for the technical information in this news release.

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