From August's Gold Newsletter:

Bayswater Uranium

(BAY.V;) made news on two fronts recently with the commencement

of an exploration programon its Boiteau Lake Uranium project and the announcement of a claim swap on lands adjacent to its TejanaMesa property. Located in Labrador’s Central Mining Belt, Boiteau Lake was the site of an extensive round of fieldwork in 2008. This year’s six-week program will return to the most promising targets from Bayswater’s 2008 campaign. Using a combination of mapping, geochemical sampling, ground geophysics, scintillometer surveys and prospecting, the company’s geologists will probe these targets and prepare them for future drill testing.

While at an early stage, the work at Boiteau Lake represents but one uranium property among the many Bayswater holds in its U.S. and Canadian portfolio. This large portfolio is in keeping with its stated ambition of becoming “a major international uranium company.”

The aforementioned claim swap near TejanaMesa (an exploration stage property located in New Mexico) was conducted with Running Fox Resource Corp.(RUN.V). In addition to land, the deal calls for an exchange of data and rights of first refusal on the claims in question. It gives Bayswater geologists additional land to follow up on their belief that Tejana Mesa holds the potential to host between 15 to 45 million pounds of uranium, possibly contained within transported roll fronts located down dip from the Red BasinMine area (1.6 million pounds of uranium). Given that the uranium market appears to be heating up again, now is the time to take advantage of the leverage that this diversified uranium junior can provide. If you haven’t built a position yet, it’s a buy. If you have, then it’s a hold.