Bayswater Provides Exploration Update on Collins Bay Extension Project, Athabasca Basin

Bayswater Uranium Corporation (TSX-V: BYU),
(OTC: BYSWF)
reports that CanAlaska Uranium Ltd. (TSX.V ? CVV)
has provided preliminary results of summer exploration surveys on
the Collins Bay Extension Project in the Athabasca Basin.

CanAlaska's geophysical staff carried out detailed waterborne seismic
surveys across the large target south of Blue Island. This profiling was
extended in the shallow offshore area east of the Rabbit Lake Mine,
where CanAlaska had previously completed sediment sampling (see map at http://www.bayswateruranium.com/Images/CBEBath.pdf).
This sampling, in Pow Bay, was to test for the source of a uranium
boulder train reported to be located south of the bay. The map image
shows the well-developed structural break which is associated with the
Rabbit Lake fault system in the Pow Bay area. This map also shows a
distinct channel of uranium enrichment trending north-easterly across
the bay, following the postulated trend of the Rabbit Lake fault system.
This trend, which also corresponds to features from CanAlaska's winter
gravity survey, can be drill-tested with shallow holes during the winter
season.

Further offshore, the large airborne Blue Island electromagnetic anomaly
matches a rapid change in the bathymetric survey, surrounding the
location of CanAlaska drill hole CBX006. This drill hole identified a
200 metre faulted offset in the basement rocks, underlain by breccias,
and localized uranium mineralization. Processing of the seismic data,
along with integration of historical lake bottom sediment sampling, will
commence within the next week, with final detailed images available for
winter drill targeting in early December 2010. CanAlaska's seismic
survey ties into the 1993 Goldak seismic survey and extends a major
paleovalley, interpreted as a possible fault or shear zone, which ties
into the Blue Island anomaly (see map).

Peter Dasler, M.Sc., P Geo. is CanAlaska′s Qualified Person for the
information provided 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 in Wyoming, the
Company′s focus is to put Reno Creek into production in the shortest
period possible. The Company′s Elkhorn/Alzada Project, located
approximately 100 miles northeast of Reno Creek, is a planned
development project for possible future US production. 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 will continue to pursue acquisition
opportunities of advanced-stage uranium projects with mid-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 'BYU?.
For further information visit www.bayswateruranium.com.

On behalf of the Board of:

BAYSWATER URANIUM CORPORATION

George M. Leary

President

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