Kilgore Minerals Ltd.
TSX VENTURE : KAU

Kilgore Minerals Ltd.

July 18, 2007 09:00 ET

Kilgore & Bayswater Shareholders Approve Merger

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2007) - Kilgore Minerals Ltd. (TSX VENTURE:KAU) is pleased to report that shareholders of both Kilgore and Bayswater Uranium Corporation have approved the arrangement (the "Arrangement") as announced March 20, 2007 and amended June 7, 2007. The plan of Arrangement was approved by all of the votes cast by Kilgore shareholders and approximately 99% of the votes cast by Bayswater's shareholders at special meetings held on July 16th.

The TSX Venture Exchange has conditionally accepted the Arrangement, and necessary approvals from the British Columbia Supreme Court have been received. The Arrangement will result in the merger of Bayswater and Kilgore under the name "Bayswater Uranium Corporation", with trading as a single company anticipated within 7 - 10 days.

The new company, Bayswater Uranium Corporation, becomes a well-positioned, small-cap uranium explorer highlighted by large, strategic exploration properties in Canada's most important uranium regions - the Athabasca Basin (1.7 million acres); the Thelon Basin (4.3 million acres), and the Central Mineral Belt (1.1 million acres) - and with advanced-stage uranium properties in the United States.

Mr. Norman Burmeister, P. Eng., President and Chief Executive Officer of Kilgore, commented, "I am pleased that shareholders of both companies have given such strong support to this merger, recognizing that combining Kilgore and Bayswater will result in a dynamic company with capabilities and expertise across a broad spectrum."

George Leary, President and CEO of Bayswater, stated, "This merger is another exciting chapter in Bayswater's young history, creating a leading uranium company with a balanced portfolio of exploration and advanced-stage properties. The diversified asset base enables us to continue to create shareholder value through discovery, resource delineation and production development."

ON BEHALF OF THE BOARD

Norman Burmeister, President & CEO

ABOUT KILGORE MINERALS

Kilgore Minerals is engaged in the acquisition, exploration and development of natural resource properties. The company holds interests in 22 uranium properties and three gold properties, all of which are located in the United States. For further information please visit our website at www.kilgoregold.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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