Mr. Victor Tanaka reports

BAYSWATER ANNOUNCES PRIVATE PLACEMENT

Bayswater Uranium Corp. has arranged a non-brokered private placement raising gross proceeds of up to $500,000 through the issuance of up to 10 million units at a price of five cents per unit. Each unit will compose one common share of the company and one common share purchase warrant. Each common share purchase warrant will allow the holder to acquire an additional common share of the company at a price of 10 cents per share for a period of two years from the date of closing of the non-brokered private placement.

The units issued with respect to the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. A portion of the private placement will be subject to a finder's fee that will be payable at 9 per cent in cash and 9 per cent in warrants with respect to certain private placement subscribers and in accordance with the policies of the TSX Venture Exchange. The finder's fee warrants are subject to the same terms as the private placement warrants. The non-brokered private placement is subject to the approval of the TSX Venture Exchange.

Proceeds from the private placement will be used for general working capital purposes.

We seek Safe Harbor.