SOURCE: Bayswater Uranium Corporation

August 23, 2007 15:40 ET

Bayswater Confirms Cash Position

VANCOUVER, BC--(Marketwire - August 23, 2007) - Bayswater Uranium Corporation (TSX-V: BAY) advises that the Company has over $33 million in its treasury, which is invested in highly liquid financial instruments. These investments comprise guaranteed investment certificates and banker's acceptances notes fully guaranteed by the Bank of Montreal. The Company is not exposed to repayment risks associated with asset-backed commercial paper.

"Bayswater is well-funded to complete its current exploration programs and has no debt," states George Leary, President of Bayswater. "In addition to our current cash holdings, the Company could receive approximately $50 million through the exercise of outstanding warrants and options."

About Bayswater Uranium Corporation - The Super Junior™ Uranium Company

Bayswater Uranium Corp. 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™ 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. For further information visit www.bayswateruranium.com.

On behalf of the Board of:


BAYSWATER URANIUM CORPORATION

George M. Leary
President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.

Contact Information

  • For further information contact:

    John Gomez
    Manager
    Investor Relations
    Telephone: (604) 687-2153