Bayswater provides resource estimate for Anna Lake deposit

Thu, Oct 15, 2009

Bayswater Uranium Corporation reports results of an independent National Institute (NI) 43-101 Mineral Resource Estimate for the Anna Lake deposit, Central Mineral Belt of Labrador.

The study was performed by Mr. Gary Giroux, (P.Eng.) of Giroux Consultants Limited based out of Vancouver, British Columbia. The Anna Lake estimate indicates an inferred resource of 4.91 million pounds of uranium oxide using a 0.030% U₃O₈cutoff (5.06 million tonnes averaging 0.044 % U₃O₈). Also contained within this resource are 1.56 million pounds of molybdenum and 1.00 million grams of rhenium (see Table 1 for grade-tonnage details).

Mr. George Leary, President and CEO of Bayswater Uranium Corporation says:

“This initial resource estimate represents another exciting stage in the development of our Company.” “The inferred resource at Anna Lake represents a baseline or starting point from which to build upon. The Deposit currently remains open for expansion and delineation in all directions and is still in the very early stages of development with respect to its size, overall grade and tonnage potential. Infill, delineation and exploration drilling will be required at Anna Lake to build on the known resource and to move the Deposit into the measured and indicated categories”.

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