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Baymount Receives Preliminary Track License Approval

5 July 2006

TORONTO, Ontario – (PRESS RELEASE) -- Baymount Incorporated ("Baymount") (TSX Venture: BYM) is pleased to announce that Baymount and its wholly-owned subsidiary Belleville Racetrack Development Corporation ("BRDC") have received Preliminary Approval for a License to Operate a Racetrack from the Ontario Racing Commission ("ORC"). This is a critical step within the regulatory process and allows the company to further the development of the new Quinte Exhibition and Raceway in Belleville, Ontario.

Mr. Graham Simmonds, President and Chief Executive Officer of Baymount stated, "We have completed another important regulatory step that will allow the company to maintain its progress in developing the new Quinte Exhibition and Raceway. The company continues to advance the development of the new facility with the expectation of opening for the 2007 racing season."

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