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File: 2016-09-19 Bayswater Receives New Tech Report.docx

Bayswater Receives New Technical Report for Reno Creek

Vancouver, BC, September 19, 2016 {{─ ─} ─} Bayswater Uranium Corporation (TSX-V: BYU), (OTC: BYSWF) ("Bay
--->swater" or "Company") reports receipt of a new technical report for the Reno Creek ISR Uranium Project ("the Project")
--->. The report was prepared by Behre Dolbear for AUC LLC ("AUC"), the operator of the Project, to update mineral resourc
--->es described in the previous technical report on the Project, dated November 30, 2012. Bayswater has a 3.09% interest 
--->in the Reno Creek Project. 

Key Updates

The new report incorporates the following information:

Documentation of the results of 2012 and later AUC drilling programs, incorporating data from 526 new AUC and historic
--->al drill holes, including:

New AUC drilling: 235 new holes completed by AUC since 2012. Ninety-eight holes were completed in the Moore Resource U
--->nit, including 3 core holes; 137 were completed in the North Resource Unit;
Recently acquired data applicable to several Resource Units from 100 historical drill holes. Most of the data were in 
--->the Southwest and Pine Tree Units;
Acquisition of new mineral holdings, including 191 additional historical drill holes. AUC acquired a 320 acre fee mine
--->ral lease in the Moore Unit, 8 mining claims under lease in the Southwest Unit, and 480 acres of fee mineral leases in
---> the North Unit;

Revision of the treatment of barren intercepts and their influence on the estimation of a resource;

Revision of the cutoff parameter for resource estimation from a grade/thickness product of 0.3% to 0.2% feet. A review
---> of new operating facilities in Wyoming and properties held by other companies immediately adjacent to the North Unit 
--->indicate that the current industry standard for GT cutoff is 0.2 ; 

Purchase of 40 acres of surface land to house the Central Processing Plant ("CPP") and leasing of 8 mining claims on a
--->nd around the CPP; and 

Receipt from relevant state and federal authorities of additional permits and licenses, including all of the permits f
--->rom the State of Wyoming necessary to build and operate the Project.

Mineral Resources

Measured and Indicated Resources for the Reno Creek ISR Uranium Project total approximately 27 million tons with a wei
--->ghted average grade of 0.041% U3O8 and a weighted average thickness of 12.3 feet containing 22 million pounds of U3O8i
--->n-place. Compared to the 2012 resource estimate, the reduction in GT cutoff from 0.3 to 0.2 resulted in an increase of
---> 3.79 million pounds of Measured and Indicated U3O8 resource. The inclusion of additional current and historical drill
--->ing data plus acquired mineral lands resulted in an increase of 2.25 million pounds of Measured and Indicated Resource
--->s. These additions offset negative adjustments owing to revision of the treatment of barren intercepts and their influ
--->ence on the estimation of a resource. Inferred Mineral Resources total 1.4 million tons with a weighted average grade 
--->of 0.034% U3O8  and a weighted thickness of 10.6 feet containing 0.93 million pounds of U3O8 in-place as represented b
--->y the following tables. 

Reno Creek ISR Uranium Project
Summary of Measured and Indicated Resources - In-Place 
Class
 Tons  (millions)
 Weighted Average Thickness (feet)
 Weighted Average Grade (%U3O8)
 Pounds U3O82 (millions)
 
 North Reno Creek
 
 
 
 
 
 Measured
 4.51
 16.4
 0.040
 3.61
 
 Indicated
 6.15
 13.1
 0.033
 4.05
 
 Total
 10.66
 14.3
 0.036
 7.65
 
 
 
 
 
 
 
 Southwest Reno Creek
 
 
 
 
 
 Measured
 4.68
 12.9
 0.043
 3.94
 
 Indicated
 4.08
 10.4
 0.038
 3.08
 
 Total
 8.77
 11.6
 0.040
 7.03
 
 
 
 
 
 
 
 Moore
 
 
 
 
 
 Measured
 2.32
 10.3
 0.048
 2.20
 
 Indicated
 2.31
 9.0
 0.042
 1.92
 
 Total
 4.63
 9.6
 0.044
 4.12
 
 
 
 
 
 
 
 Bing
 
 
 
 
 
 Measured
 0.30
 14.6
 0.038
 0.23
 
 Indicated
 0.71
 12.4
 0.032
 0.45
 
 Total
 1.02
 13.0
 0.033
 0.67
 
 
 
 
 
 
 
 Pine Tree
 
 
 
 
 
 Measured
 0.57
 14.0
 0.056
 0.63
 
 Indicated
 1.83
 12.2
 0.051
 1.87
 
 Total
 2.40
 12.6
 0.053
 2.51
 
 
 
 
 
 
 
 Reno Creek Project
 
 
 
 
 
 Measured
 12.38
 13.6
 0.043
 10.61
 
 Indicated
 15.09
 11.5
 0.039
 11.37
 
 Total
 27.47
 12.3
 0.041
 21.98
 
  
Reno Creek ISR Uranium Project
Summary of Inferred Resources - In-Place1
Class
 Tons2 (millions)
 Weighted Average Thickness (feet)
 Weighted Average Grade (%U3O8)
 Pounds U3O82 (millions)
 
 North Reno Creek
 
 
 
 
 
 Inferred
 1.02
 11.5
 0.034
 0.69
 
 
 
 
 
 
 
 Southwest Reno Creek
 
 
 
 
 
 Inferred
 0.20
 8.6
 0.033
 0.13
 
 
 
 
 
 
 
 Moore
 
 
 
 
 
 Inferred
 0.13
 8.0
 0.035
 0.09
 
 
 
 
 
 
 
 Bing
 
 
 
 
 
 Inferred
 0.00
 0.0
 0.000
 0.00
 
 
 
 
 
 
 
 Pine Tree
 
 
 
 
 
 Inferred
 0.02
 6.8
 0.040
 0.01
 
 
 
 
 
 
 
 Reno Creek Project
 
 
 
 
 
 Inferred Total
 1.36
 10.6
 0.034
 0.93
 
 

 Cutoff>= 0.20 grade x thickness
2 Columns may not add due to rounding

The new Measured and Indicated resource estimate of 21.98 million pounds U3O8 is an increase of  0.11 million pounds U
--->3O8 from Measured and Indicated resources reported in Behre Dolbear's 2012 technical report. Given the change in resou
--->rces and data, the Preliminary Prefeasibilty Study prepared in 2014 is no longer current and is not to be relied upon.
---> 

Qualified Persons 

The report, entitled "Technical Report and Audit of Resources of the Reno Creek ISR Project, Campbell County, Wyoming,
---> USA", dated July 31, 2016, was authored by Robert D. Maxwell (CPG, AIPG) and Betty Gibbs (MMSA), Associates of BehreD
--->olbear & Company (USA), Inc., who are "independent persons" in accordance with the definition in NI 43-101. Mr. Maxwel
--->l and Ms. Gibbs are Qualified Persons under NI 43-101, are responsible for the resource estimate in the Technical Repo
--->rt, and have reviewed and verified the technical disclosure provided in this news release. The Technical Report prepar
--->ed for AUC is being filed by Bayswater and will be available on the SEDAR website at www.sedar.com. 






About Bayswater Uranium Corporation 

Bayswater Uranium Corporation is a uranium exploration and development company. Bayswater has a 3.09% interest in Reno
---> Creek Holdings Inc., the holding company of AUC LLC, which owns 100% of the Reno Creek ISR uranium development projec
--->t in Wyoming. The Company also owns a 100% interest in the Brudell property located in the Athabasca Basin in Saskatch
--->ewan. Shares of Bayswater are listed on the TSX Venture Exchange under the symbol "BYU". For further information see t
--->he Company's profile on SEDAR (www.sedar.com).

On behalf of the Board of: 

BAYSWATER URANIUM CORPORATION 

Victor Tanaka
President
  
For further information contact:  

John Gomez
Corporate Development
Telephone: (604) 687-2153

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