Bayswater Files Pre-Feasibility Report for Reno Creek Project, Wyoming and Information Circular for the Transaction

Vancouver, BC, October 20, 2009 ─ Bayswater Uranium Corporation (TSX-V: BAY), (OTC: BYSWF) is pleased to announce that a Pre-Feasibility Study dated September 28, 2009, by TREC, Inc. for the Reno Creek Uranium Project, Wyoming, as referenced in the Company’s press release dated August 24, 2009, has now been filed on SEDAR at www.sedar.com.

Additionally, the Company is pleased to advise that an Information Circular dated October 5, 2009 setting out the proposed transaction with Strathmore Resources (US) Ltd., a wholly owned subsidiary of Strathmore Minerals Corp (TSX-V: STM),and American Uranium Corp (OTC: ACUC) whereby the Company shall acquire a 100% interest in the Reno Creek Uranium Project (“the Project”) and its holding company, AUC LLC (the “Transaction”), has been mailed to shareholders and filed on SEDAR. The transaction was announced on August 24, 2009 and the Extraordinary Meeting to consider the Transaction has been set for November 16, 2009.

A closing date for the Transaction has yet to be scheduled, but is anticipated to occur before December 31, 2009.

Terms of the Transaction

As previously announced, the aggregate purchase price for a 100% interest in the Reno Creek Uranium Project is US$32 million. No finder’s fees are payable in respect of the acquisition. Of the aggregate purchase price, US$30 million in cash is payable to Strathmore for a 100% interest in the property, AUC LLC and all related assets, and US$2 million, payable US$1 million in cash and US$1 million through the issuance of common shares of Bayswater, is payable to American Uranium in exchange for its option rights to the property and a large data base plus a UIC (deep well injection) permit. A non-refundable deposit of US$250,000 in cash has been paid to Strathmore in conjunction with the signing of the letter of intent, which is credited against the US$30 million purchase price. Copies of the agreements entered into with Strathmore and American are available on SEDAR at www.sedar.com. A formal purchase agreement between Strathmore, American and the Company is expected to be executed shortly and will be filed on SEDAR.

Financing of up to CDN$50 million is required to complete the acquisition of the Reno Creek Project and for related working capital in order to advance the Project pursuant to the production time-line. To raise the needed capital, Bayswater plans to undergo a restructuring, including a consolidation of the Company’s share capital, as disclosed in the information circular. Any consolidation of Bayswater’s share capital will be subject to regulatory and shareholder approval.

About Bayswater Uranium Corporation - The Super Junior Uranium Company™

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 “BAY”. For further information visit www.bayswateruranium.com.

On behalf of the Board of:
BAYSWATER URANIUM CORPORATION
George M. Leary
President

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