Baymount Inc. issued a press release yesterday stating that it is now negotiating an agreement with a strategic joint venture partner to participate directly in its Quinte

racino project.

The release appears below in its entirety.

TORONTO, ONTARIO -- 06/23/09 -- Baymount Incorporated ("Baymount" or the "Company") (TSX VENTURE: BYM), a company focused on developing horseracing properties and innovative wagering products, announces today that following an extensive process over the course of the past five months it is now negotiating an agreement with a strategic joint venture partner to participate directly in the Company's Quinte Racino Project. The joint venture will be structured to provide the capital needed at the subsidiary level without the need for a substantial equity issuance at the public company level. The use of proceeds of this transaction will be for the retirement of debt and to provide the necessary capital to complete the Quinte Racino Project construction. The Company will provide further updates and announcements with greater detail if negotiations result in a formal agreement.

The Quinte Racino Project will be the 18th and final Racino facility to be built in Ontario, ideally situated in an under-serviced market with no other gaming location for over 100 km. To date, Baymount has secured an agreement with the Belleville Agricultural Society, purchased 137 acres of land adjacent to Highway 401 in Belleville, Ontario, and secured a Site Holder Agreement to host an Ontario Lottery and Gaming Corporation ("OLG") operated slots-at-racetracks facility.