Baymount Provides Corporate Update

Baymount Incorporated ("Baymount" or the "Company") (TSX VENTURE:BYM.H), has
been evaluating a number of business opportunities within the horse racing and
gaming and industries. While any opportunity will require a significant
restructuring of the Company's finances and balance sheet, the objective of the
Board of Directors has been to leverage Baymount's management expertise in this
industry and its strong Board of Directors and shareholder base. To this end the
Company will be selling any remaining assets associated with the Quinte
racetrack and slots project and work towards negotiating its unsecured
liabilities.


Baymount also announces that its wholly owned subsidiary, Belleville Racetrack
Development Corporation (BRDC), has received a one-time payment of $3.2 million
under its former Siteholder Agreement with OLG for certain expenditures it made
pertaining to the planned Quinte facility.


About Baymount

Baymount seeks out and develops opportunities within the horse racing industry.
Due to significant changes to government gaming policy within the Province of
Ontario, Baymount is no longer focused on developing its horse racing and slots
facility in Belleville, Ontario. The Company is evaluating a number of new
business opportunities within the horse racing and gaming industries.




ON BEHALF OF BAYMOUNT INCORPORATED                                          
                                                                            
Graham Simmonds, President & Chief Executive Officer                        



Neither 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 the release.


Forward-looking Statements

This press release contains certain forward-looking statements with respect to
the Company. These forward-looking statements, by their nature, involve risks
and uncertainties that could cause actual results to differ materially from
those contemplated. We consider the assumptions on which these forward-looking
statements are based to be reasonable, but caution the reader that these
assumptions regarding future events, many of which are beyond our control, may
ultimately prove to be incorrect.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mr. Graham Simmonds
President and Chief Executive Officer
416-843-2881
[e-mail]