VANCOUVER, BC–(EMWNews – August 6, 2008) – Bayswater Uranium Corporation (TSX-V: BAY)

(PINKSHEETS: BYSWF) is pleased to report additional drill results and

provide an exploration update on its 2008 exploration program for the

Central Mineral Belt Uranium Project, Labrador. Currently, exploration

efforts are in full swing on the Company’s 100% owned property. Diamond

drilling, geophysical, radon flux, soil geochemical, line-cutting and

prospecting crews are all currently active on the property. Wide spaced,

step-out drilling continues to expand the Anna Lake deposit to depth and

has currently traced the continuity of the zone to depths of up to 430

meters.

Highlights

--  Drilling traces mineralized zone to 430 meters depth

--  Best drill intersections from two separate holes return 19.0 meters

    grading 0.04% U3O8 and 5.9 meters grading 0.10% U3O8

--  Significant molybdenum credits in all uranium drill intercepts with

    values ranging from 0.01% to 0.09% molybdenum

    

A 20,000 meter diamond drill program using two heli-portable rigs commenced

May 2, 2008 on the Company’s Anna Lake Project. To date, a total of

approximately 11,000 meters in twenty four holes have been drilled on both

the main Anna Lake deposit and anomalous reconnaissance targets along the

Anna Lake 10 km favourable corridor to the northeast. Seventeen diamond

drill holes have been collared on the Anna Lake deposit since the start of

the 2008 program. Final assays results have been received for ten of these

holes with assays pending for the balance of all other holes. Results

from the drilling program continue to expand the size of the deposit and

have currently confirmed the continuity of the mineralization to a depth of

at least 430 meters. The mineralized zone is planar and dips approximately

60 – 70 degrees to the east. Analytical results from the drilling within

the Anna deposit at depth are as follows:

-------------------------------------------------------

DDH #       From       To    Interval   %U3O8      %Mo

            (m)        (m)      (m)

-------------------------------------------------------

AL08-41     343.9     353.9     3.3      0.04     0.044

-------------------------------------------------------

AL08-42     478.1     484.0     5.9      0.10     0.04

including   480.1     482.0     1.9      0.22     0.09

-------------------------------------------------------

AL08-45     381.8     400.8    19        0.04     0.01

including   389.7     393.5     3.8      0.10     0.03

            397.8     400.8     3.0      0.07     0.02

-------------------------------------------------------

AL08-47     453       454       1        0.12     0.050

-------------------------------------------------------

AL08-50     597       599       2        0.026    0.012

-------------------------------------------------------

AL08-51     372.56    374.07    1.51     0.040    0.021

-------------------------------------------------------

As previously announced in a press release dated May 12, 2008, the drilling

program has been aggressive with 100 meter step-outs to delineate the

deposit at depth and laterally while continuing to focus on the higher

grade plunging zones.

Geological work performed during 2008, suggests that the Anna Lake uranium

deposit is hosted within the Post Hill Group of Proterozoic aged

metasediments. The Post Hill Group hosts several other uranium deposits

within the Central Mineral Belt including the Kitts, Inda, Nash and Gear.

A belt of Aillik Group felsic volcanic rocks similar to the host lithology

of the Michelin uranium deposit has also been identified on the northwest

side of the Anna Lake structural corridor. Ongoing work will continue to

evaluate the potential of this belt during the 2008 field season.

Induced Polarization, radon flux and soil geochemical ground surveys are

near completion on the gridded area around the Anna Lake deposit and

favourable 10 km corridor to the northeast. It is expected this work will

be completed by mid-August. Also, a ground prospecting crew consisting of

ten prospectors are currently engaged evaluating high priority targets.

Prospecting will focus on priority targets outlined from the 2006 and 2007

field seasons along with new geological interpretations of airborne data

within the claims.

An updated drill hole location map and longitudinal section will be

available on Bayswater’s website at www.bayswateruranium.com.

Sample handling consists of shipping one half of split drill core samples

to Activation Laboratories Ltd. sample preparation facility in Goose Bay,

Labrador where the samples are crushed, pulverized and split. Sample pulps

are then forwarded to Ancaster, Ontario for analyses. Uranium analysis is

performed using the delayed neutron counting (DNC) method. A multi-element

inductively coupled plasma mass spectrometry (ICP-42) is performed as well

on all samples. Where uranium values exceed the upper limit of 1%, samples

are re-assayed using X-ray fluorescence (XRF). A rigorous quality

control/assurance program was instituted for the sampling and analytical

work. Control samples, consisting of three separate standards are inserted

in the sample stream approximately every 20 samples. To date, this program

has shown that the analyses are reliable.

The Company’s exploration activities are conducted under the supervision of

George M. Leary, M.Sc. P. Eng. (BC), President of the Company, and Victor

Tanaka, B.Sc. P.Geo. (B.C.), Chief Operating Officer of the Company. Both

are qualified persons under NI 43-101. George Leary is the qualified person

responsible for the technical information in this news release.

About the Labrador Central Mineral Belt

The Central Mineral Belt of Labrador, Canada, located approximately 135

kilometers north of Goose Bay, has a long history of uranium and base

metals exploration. Uranium was first discovered in the belt in the 1950s.

With further exploration in the 1960s and 1970s and rising uranium prices,

exploration in the region increased significantly and several uranium

deposits were discovered including the Kitts, Michelin, Inda, Nash, Rainbow

and Moran Lake deposits by Brinco. Today, exploration activity in the

region is highlighted by resource drilling at the Michelin and Jacques Lake

deposits by Aurora Energy Resources Inc. (TSX: AXU) and at the Moran Lake

deposit by Crosshair Exploration & Mining Corp. (TSX-V: CXX). Collectively,

approximately 100 million pounds of NI 43-101 compliant uranium resources

have been reported in the Central Mineral Belt by Aurora and Crosshair, a

figure that is expected to increase significantly in the coming years

through increases to existing resources, as well as new uranium

discoveries. Bayswater Uranium is the largest landholder in the Central

Mineral Belt with interests in 4,626 sq km of strategic landholdings;

Aurora controls about 800 sq km and Crosshair approximately 640 sq km.

Bayswater is aggressively exploring several uranium targets within its

landholdings with the objective of discovering new uranium resources.

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 feasibility and 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. To

capitalize on the strong growth of the nuclear industry and to continue to

add shareholder value, Bayswater plans to focus on the development of its

resource properties and to evaluate early stage projects for further

discoveries. Other acquisition opportunities will continue to be assessed

all with a corporate vision of building a major international uranium

company. 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.

For further information contact: John Gomez Manager, Investor Relations Telephone: (604) 687-2153