Bayswater Uranium Corp. Profile on Uranium Investment News

Bayswater Uranium: Major landholdings + experience

Tue, Apr 29, 2008

Bayswater Uranium Corp.

Overview

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 Uranium Company(tm) with the share liquidity and market capitalization to provide value to both the retail and institutional investor.

Chief Advanced Stage Properties

Bayswater Uranium Picture Bayswater is the only uranium explorer to have major landholdings (1 million acres or more) in each of Canada’s most important producing and exploration regions: the Athabasca Basin, the Central Mineral Belt, and the Thelon Basin. In 2007, approximately $20 million is budgeting for exploration, which respresents among the largest exploration programs in the industry.

Anna Lake, Labrador

Bayswater began drilling at Anna Lake and several other targets located at its Central Mineral Belt (CMB) property in July 2007. The 2007 exploration program produced very encouraging results and the Company plans to continue drilling in 2008 to increase resources and bring them into NI 43-101 compliance.

Project Highlights

Drilling in 2007 identified a major uranium discovery including 40 meters grading 0.07% U3O8.
Located in the Central Mineral Belt of Labrador, a region with IOCG-Olympic Dam and Rossing-style uranium deposits.
Major dill program is underway to expand resources and bring them into NI 43-101 compliance.

Elkhorn, Wyoming

Through its merger with Northern Canadian Uranium (NCA), Bayswater acquired the Elkhorn property in Wyoming, strategically located near the Company’s Wood and New claims obtained through the Kilgore acquisition completed in the summer of 2007. Bayswater commenced a phase 3 drill program in March 2008 to further evaluate areas of known uranium mineralization with the objective of confirming historical resources and conducting step-out drilling to increase resources. Preliminary results from this program have identified widespread mineralization and further drilling is being considered for this summer.

Project Highlights

Preliminary results from phase 3 drilling in early 2008 identified widespread mineralization including 28 metres at 0.129% eU3O8.
Historical resource estimate of 652,230 pounds U3O8*.
Located in the Powder River Basin of northeastern Wyoming, an established uranium region known for its roll front uranium deposits.

Alzada, Montana

The Alzada project is consists of several claim blocks in southeast Montana obtained through Bayswater’s merger with Kilgore. This property has undergone varying levels of exploration in the past and has near term production potential. Historical data has been collected and analysed by the Company and drilling is planned to confirm and expand upon historical resource estimates.

Project Highlights

Historical resource estimate of 7,060,000 pounds U3O8 with considerable potential for resource expansion.*
Located in the Powder River Basin, known for its roll front uranium deposits.
Drilling planned to confirm and expand resources.

Chief Early Stage Properties

Brudell Lake, Saskatchewan

Brudell Lake consists of over 1.7 million acres of 100% owned land in the western region of the Athabasca Basin of Saskatchewan making Bayswater one of the largest landholders in the region. An airborne survey conducted in 2007 identified five high priority targets which the Company plans to follow up in the first part of 2008 in preparation for subsequent drill testing.

Project Highlights

Located in the western portion of the Athabasca Basin, a region known for hosting high-grade unconformity type uranium deposits.
5 high priority basement conductive zones identified by an airborne geophysical survey.
Company plans to bring conductive targets to the drill stage during 2008.

Central Mineral Belt, Labrador - 100% Interest in 1,092,537 Acres

The Central Mineral Belt (CMB) uranium district extends for more than 175 kilometres through south-central Labrador, eastern Canada. The belt features numerous uranium and copper occurrences highlighted by the Michelin and Moran Lake uranium deposits. Bayswater is the largest landholder in the region.

In July 2007, Bayswater started a 10,000 metre drilling program in the CMB. Two drill rigs will drill approximately 50 holes to test up to 10 priority uranium targets. The company has budgeted $5.6 million for exploration in the Central Mineral Belt in 2007.

Thelon Basin, Nunavut and Northwest Territories - 50% to 100% Interest in approximately 4,500,000 Acres

The Thelon Basin represents an under-explored, major sandstone basin that shares many geological characteristics with the Athabasca Basin, approximately 350 km to the south in Saskatchewan. Similarities between the Athabasca and Thelon Basins include the age and character of favorable host and basement rocks, major structural features, and, importantly, known occurrences of unconformity-hosted uranium mineralization. The most advanced uranium deposits in the Thelon Basin area are Areva’s Kiggavik, Andrew Lake and END deposits (the Kiggavik Trend), host to approximately 131 million pounds of contained U3O8.

Bayswater is the largest landholder in the Basin with interests covering approximately 4.5 million acres, representing over 33% of the available exploration ground in the Basin. For 2007, an $8.1 million exploration program is planned including up to 10,000 metres of drilling.