Baymount Provides Corporate Update

Baymount Incorporated ("Baymount" or the "Company") (TSX VENTURE:BYM), through
its wholly-owned subsidiary Belleville Racetrack Development Corporation
("BRDC"), has received a formal notice of termination of its Site Holder
Agreement (originally executed on October 23, 2006) with the Ontario Lottery and
Gaming Corporation ("OLG"). The Government of Ontario and the OLG recently
announced a significant change to the provincial gaming policy with the planned
elimination of the "Slots-at-Racetracks" program. This change is part of a
larger modernization plan for lottery and gaming in the province of Ontario. As
such, the OLG has terminated the Site Holder Agreement with BRDC effective
immediately. The Company and OLG have agreed to meet to discuss the relevant
financial considerations pursuant to the Site Holder Agreement.


BRDC has an agreement with the Belleville Agricultural Society to build a
facility to relocate the Quinte Exhibition and Raceway ("QER") in Belleville,
Ontario. QER was one of the 18 racetrack licenses in Ontario eligible to
participate in Ontario's "Slots-at-Racetracks" program. With the cancelation of
the "Slots-at-Racetracks" program and the termination of BRDC's Site Holder
Agreement with OLG, the Company will need to fully reevaluate its current
business plans.


Effective immediately the Company's proposed transaction with Nevada Exploration
Inc. ("NGE"), whereby Baymount planned to earn a joint venture interest in NGE's
Fletcher Junction Gold Project, in Mineral County, Nevada, has been terminated.
The planned transaction with NGE constituted a "Change of Business" for the
Company; as such term is defined and understood under the rules and policies of
the TSX Venture Exchange (the "Exchange"). The Company will not pursue a "Change
of Business" at this time and will focus its efforts on evaluating its current
assets and concluding its development business in Belleville, Ontario.


About Baymount

Baymount seeks out and develops opportunities within the horse racing industry.
The Company is reevaluating its current business plans due to significant
changes to government gaming policy within the Province of Ontario.


ON BEHALF OF BAYMOUNT INCORPORATED

Graham Simmonds, President & Chief Executive Officer

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.