First part of news release, rest is posted on the Bayswater website. Need to sift through it to see if I like it. We'll see what the market thinks in the morning :

Bayswater to Acquire Reno Creek Uranium Project, Wyoming

One of the Best Undeveloped Uranium Deposits in the Western United States, as Stated by Tom Pool, a Leading US Uranium Industry Mining Engineer

Vancouver, BC, August 24, 2009 ─ Bayswater Uranium Corporation (TSX-V: BAY), (OTC: BYSWF) is pleased to announce that it has signed letters of intent with Strathmore Resources (US) Ltd., a wholly owned subsidiary of Strathmore Minerals Corp (TSX-V: STM), and American Uranium Corp (OTC: ACUC) to acquire the Reno Creek Uranium Project (“the Project”) and its holding company, AUC LLC. Reno Creek is an advanced, near–surface uranium project at the permitting/feasibility stage located in the Powder River Basin in northeastern Wyoming, a well established uranium development region. The Project comprises NI 43-101 compliant resources of 10.96 million pounds of U3O8 at an average grade of 0.066% U3O8 measured and indicated and 4.73 million pounds of U3O8 at an average grade of 0.063% U3O8 inferred. In addition, Reno Creek contains approximately 8.41 million pounds of U3O8 in historical resources grading approximately 0.083% U3O8. The Project also has excellent potential to significantly increase resources through low-risk exploration. An extensive database, deep well injection permit and a disposal well are being acquired in conjunction with the resources