SOURCE: Bayswater Uranium Corporation

November 22, 2007 12:12 ET

Bayswater Executes Agreement to Acquire Northern Canadian Uranium

VANCOUVER, BC--(Marketwire - November 22, 2007) - Bayswater Uranium Corporation (TSX-V: BAY) (PINKSHEETS: BYSWF) is pleased to report the Company has signed an Arrangement Agreement to acquire Northern Canadian Uranium Inc. (TSX-V: NCA) as announced October 16, 2007. Bayswater's due diligence review is currently ongoing and will be completed over the next few weeks.

Northern Canadian Uranium ("NCA") has today mailed an Information Circular to its shareholders that describes terms of the agreement and to recommend the proposed transaction be accepted at a Special Meeting on December 18, 2007.

The Information Circular is available at Northern Canadian's profile on SEDAR (www.sedar.com). Final completion of the acquisition is subject to approval by NCA shareholders and receipt of applicable regulatory approvals.

About Bayswater Uranium Corporation - The Super Junior™ Uranium Company

Bayswater Uranium Corporation 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." The Company's website is 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