Hauber Project Uranium Venture Shows Positive In-Situ Recovery (ISR) Amenability Results

Bayswater Uranium Corporation(TSX.V: BYU),
(Pink Sheets: BYSWF)
is pleased to announce the results of the initial ISR amenability
testing conducted on the Hauber Project LLC lands located in Crook
County, Wyoming that make up part of the Company′s Elkhorn/Alzada
project. Results of the testing are summarized as follows:

• 
  Gamma ray logging of two core holes verified historical levels of
  mineralization in the target Lakota Sandstone at depths ranging from
  250 to 325 feet below surface.
  
• 
  PFN logging and chemical assays collected on the two core holes
  drilled in 2010, and compared to radiometric uranium measurements,
  revealed on average no significant disequilibrium; additional data to
  verify this conclusion will be collected in the future.
  
• 
  The mineralized host sandstones exhibited permeabilities ranging from
  600 to over 2400 millidarcies, within the accepted range for ISR
  mining.
  
• 
  The overlying and underlying aquitards exhibited permeabilities
  ranging from 0.2 to 5 millidarcies, demonstrating the existence of
  quality confining layers.
  
• 
  Bottle roll metallurgical tests reported total uranium recoveries
  averaging approximately 90%, on samples ranging from 0.03% to 0.19%
  U3O8.
  

In December 2009, Bayswater entered into a venture agreement as amended
with NFUR Hauber, LLC, a subsidiary of Ur-Energy Inc. (TSX: URE)
whereby the Company can earn a 75% interest in Ur-Energy′s Hauber
uranium project located in Crook County, Wyoming ('the Hauber Project?).
The 75% interest may be earned through aggregated expenditures of
US$1,000,000 over the earn-in period of four years. The Hauber Project
includes five project areas in close proximity, which host an indicated
1.45 million pounds of eU3O8 in 422,000 tons at an average grade of
0.17% eU3O8 pursuant to a NI 43-101 Technical Report by Thomas C. Pool
P.E. dated January, 2010 as filed on SEDAR.

The first year′s program included drilling of two core holes targeting
the Lakota Sandstone, followed by logging and testing. The two core
holes were drilled into areas that exhibited historical mineralization,
based on historical Homestake Mining Corporation drill hole logs held by
the Company. Core samples were obtained across the entire Lakota
Sandstone target, and also included portions of the overlying and
underlying confining shales. Samples were tested for porosity and
permeability by Core Lab of Denver, CO. Subsequently, aliquots from the
mineralized sections of the core were subjected to bottle roll
metallurgical testing, using a bicarbonate lixiviant, by Energy
Laboratories of Casper, WY. Aliquots of the mineralized sections of the
core were also submitted for chemical uranium and trace element assays
to ALS Chemex of Reno, NV.

Bayswater, depending on general market conditions and financing, intends
to expand its evaluation of the Hauber Project by carrying out a
two-phase program in 2011 that will include:

• 
  a pump test of the host Lakota sandstone in the area of 2010 drilling
  in order to demonstrate the production zone aquifer behavior to
  further evaluate potential ISR mining; and
  
• 
  drilling of up to 25 additional holes for purposes of confirmation of
  previous historical drill results and to potentially expand resources.
  

The goal of the 2010 and 2011 programs is to successfully demonstrate
the hydrologic and metallurgical potential for ISR mining and that the
known resources can be expanded by further step-out drilling.

The Company′s exploration activities are conducted under the supervision
of George M. Leary, M.Sc. P. Eng. (B.C.), President of the Company, and
Victor Tanaka, B.Sc. P.Geo. (B.C.), Executive VP and 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 Bayswater Uranium Corporation - The Super Junior Uranium Company
^TM

Bayswater Uranium Corporation is an international uranium exploration
and development company. The Company owns several advanced uranium
properties in the United States with significant NI 43-101 compliant and
historical resources that may be amenable to ISR and/or conventional
mining. With the acquisition of the Reno Creek Property, WY, the
Company′s focus is to develop Reno Creek to production in the shortest
time frame possible. The Company′s Elkhorn/Alzada Project, located
approximately 100 miles northeast of Reno Creek, is being advanced as a
complementary or stand alone project for future potential production. As
well, Bayswater is the only uranium company to have strategic
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 will continue to pursue
acquisition opportunities of advanced-stage uranium projects with
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 'BYU?.
For further information visit www.bayswateruranium.com.

Statements in this news release other than purely historical
information, including statements relating to the Company′s future plans
and objectives or expected results, constitute forward-looking
statements.Forward-looking statements are based on numerous
assumptions and are subject to all of the risks and uncertainties
inherent in the Company′s business, including risks inherent in mineral
exploration, development and mining.There can be no assurance
that such forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements.Accordingly, readers should not
place undue reliance on such statements.The Company does not
undertake to update any forward-looking statements that are incorporated
by reference herein, except in accordance with applicable securities
laws.Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of
this news release.

Bayswater Uranium Corporation

John Gomez, 604-687-2153

Manager,
Investor Relations