Bayswater Signs Amending Agreements Regarding Reno Creek

Bayswater Uranium Corporation (TSX-V: BYU), (OTC: BYSWFD) announces that, further to its news release dated January 7, 2010 advising that the Company has elected to meet the terms of an unsolicited competing offer for the Reno Creek Property (the “Property”), Strathmore Minerals Corp., American Uranium Corp. and the Company have entered into an amended formal purchase agreement. As previously announced, pursuant to the terms of the amended agreement, Bayswater will acquire a 100% interest in the Property in consideration of the payment of an aggregate of US$20 million of which US$ 17.5 million is payable in cash and US $2.5 million is payable through the issuance of common shares of the Company.

Bayswater shall have until April 6, 2010 to complete the transaction.

Final completion of a transaction on the Property is subject to receipt of applicable regulatory approvals, among other things. Please see the Company’s news releases dated August 24, 2009, September 18, 2009, October 5th, 20th, and 22nd, 2009, December 8, 2009, December 29, 2009 and January 7, 2010, for additional information concerning the Property and the related transactions.

About Bayswater Uranium Corporation - The Super Junior Uranium Company TM

Bayswater Uranium Corporation is an international uranium exploration and development company. The Company owns several advanced uranium properties in the United States with significant historical resources that may be amenable to ISR and/or conventional mining. As well, Bayswater is 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 combines a balanced portfolio of advanced and exploration projects with the uranium expertise of its technical and managerial teams. To capitalize on current market conditions and strong growth of the nuclear industry, the Company is pursuing acquisition opportunities of advanced-stage uranium projects with near-term production potential. Bayswater's vision is to build a major international uranium company. Shares of the Company are listed on the TSX Venture Exchange under the symbol “BYU”. For further information visit www.bayswateruranium.com.

On behalf of the Board of:

BAYSWATER URANIUM CORPORATION

George M. Leary

President

Statements in this news release other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in mineral exploration, development and mining. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Bayswater Uranium Corporation
John Gomez, 604-687-2153
Manager, Investor Relations

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.