Bayswater Uranium: Major landholdings and experience

Resource Investing News

Overview With landholdings in key uranium districts in Canada, the United States and West Africa, Bayswater Uranium Corp has emerged as a leading international uranium exploration and development company. Its impressive portfolio of advanced stage properties in the United States have a combined historical resource estimate of 12 million lbs U3O8 (non NI 43-101 compliant) …

Overview

With landholdings in key uranium districts in Canada, the United States and West Africa, Bayswater Uranium Corp has emerged as a leading international uranium exploration and development company. Its impressive portfolio of advanced stage properties in the United States have a combined historical resource estimate of 12 million lbs U3O8 (non NI 43-101 compliant) and includes the Elkhorn project in Wyoming, which was the focus of extensive drilling in 2008. In Canada, Bayswater has major landholdings in each of the country’s most important uranium producing and exploration regions – the Athabasca Basin, the Central Mineral Belt, and the Thelon Basin. Bayswater combines its portfolio of development and exploration projects with the uranium expertise of its technical and managerial teams. The result is a super junior exploration company with a vision to become a major international uranium producer.

Bayswater Uranium

Chief Properties

Bayswater’s exploration efforts are focused on increasing resources at the Company’s advanced-stage Elkhorn property in Wyoming, USA, and its Anna Lake property in the Central Mineral Belt of Labrador. At its early-stage projects in the Athabasca and North Thelon Basins of northern Canada, the Company has been working to advance them to the drill stage by further defining targets.

Elkhorn, Wyoming

Elkhorn is an advanced-stage property in the Powder River Basin of northeastern Wyoming with a historical resource estimate of 592,308 pounds U3O8 (non NI 43-101 compliant). The Powder River Basin is an established uranium region known for its roll-front uranium deposits. Bayswater completed a 489-hole, drill program in 2008 that confirmed widespread uranium mineralization in several areas; results included 28 metres grading 0.129% U3O8.

Bayswater Uranium - Elkhorn

Anna Lake, Central Mineral Belt, Labrador

Bayswater’s Anna Lake property is situated in the Central Mineral Belt of Labrador, a major uranium exploration region in Canada with IOCG Olympic Dam and Rossing style deposits. Bayswater began drilling at Anna Lake and several other targets located at its Central Mineral Belt (CMB) property in July 2007. The 2007, 41-hole drilling program led to a major discovery that included 40 metres grading 0.07% U3O8. The Company carried out a 16,000 metre drill program in 2008 that continued to expand the deposit and test other targets along a favourable 10 km corridor. Preparation of a resource estimate is planned as early as 2009.

Bayswater Uranium - Anna Lake

Athabasca Basin, Saskatchewan

Bayswater has significant land holdings in the Athabasca Basin in northern Saskatchewan, Canada. This region is widely recognized as the premier region in the world for high-grade unconformity-type uranium deposits like McArthur River and Cigar Lake.

Bayswater Uranium - Athabasca Basin

Brudell Lake, Athabasca Basin, Saskatchewan Bayswater’s Brudell Lake property consists of just under 200,000acres of 100% owned land in the western region of the Athabasca Basin. An airborne survey conducted in 2007 identified five high-priority targets which the Company began drilling to test in fall of 2008. Collins Bay Extension, Athabasca Basin, Saskatchewan The Collins Bay Extension (CBE) property is situated on the northeastern extension of the Collins Bay Fault in the eastern margin of the Athabasca Basin., along strike several deposits being mined by Cameco Corp. Following initial drilling at CBE in 2008, five high-priority targets have been recommended for further drilling, including one which has a historic drill hole that returned 0.15% U3O8 over 4 metres.

North Thelon Basin, Nunavut

Bayswater has interests in over 1.6 million acres of land in the North Thelon region of Nunavut. The Thelon Basin has similar geological characteristics to the Athabasca Basin and is largely underexplored. Airborne surveys flown over the entire property identified 18 radiometric anomalies in 2006. In 2007 these targets were followed up with detailed ground surveys and this confirmed the presence of significant uranium mineralization in the Amer West Block. In 2008, follow-up exploration continued and another uranium mineralization discovery was made at the Itza claim block.

Bayswater Uranium - North Thelon

Objectives in 2009:

1. Strengthen core assets;
2. Acquire advanced projects; and
3. Farm-out select properties.

Management

Bayswater’s management and advisory team members have participated in some of the world’s largest uranium discoveries including Canada’s rich Cigar Lake deposit in the Athabasca Basin, the Jabiluka deposit in Australia and the KIggavik (Andrew Lake) deposit in the Thelon Basin.