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TORONTO, ONTARIO--(Marketwire - May 28, 2010) - Baymount Incorporated ("Baymount" or the "Company") (TSX VENTURE:BYM) announces that its shareholders approved a resolution authorizing the consolidation of its common shares (each, a "Common Share") on a one (1) for twenty (20) basis (the "Consolidation") at the Annual and Special Meeting of the Company that was held on May 27, 2010. An aggregate of 43,571,288 shares were represented at the meeting either in person or by proxy, representing approximately 27% of the issued and outstanding common shares of the Company, with 96.3% of the votes being cast in favour of the Consolidation resolution.

For each twenty (20) Common Shares currently held by a Baymount shareholder, each shareholder will receive one Common Share after the Consolidation takes effect. Completion of the Consolidation is subject to the approval of the TSX Venture Exchange ("TSX-V"). Materials are being submitted to the TSX-V requesting such approval and a further announcement will be made once such approval is obtained. The Consolidation will not materially affect the percentage ownership in the Company of shareholders even though such ownership will be represented by a smaller number of Common Shares. The Consolidation will merely proportionally reduce the number of Common Shares held by shareholders. As at the date hereof, there are an aggregate of 160,532,117 Common Shares issued and outstanding. It is expected that, upon completion of the Consolidation, there will be an aggregate of approximately 8,026,606 Common Shares issued and outstanding. It is management's view that the Consolidation is in the best interests of the shareholders of the Company, as it is anticipated that the post-Consolidation market price per share will facilitate further financing activities, which are expected to be more viable. At present prices, financing alternatives are extremely limited, as the recent trading price of the Common Shares has fluctuated between roughly $0.01 and $0.02, whereas the minimum offering price under a private placement is $0.05.

Following receipt of TSX-V approval, the Company will complete the necessary corporate filings in order to give effect to the Consolidation. Once completed, a letter of transmittal will be sent by mail to shareholders advising them that the Consolidation has taken effect and instructing them to surrender the certificates evidencing their Common Shares for replacement certificates representing the number of Common Shares to which they are entitled as a result of the Consolidation. Until surrendered, each certificate formerly representing Common Shares will be deemed for all purposes to represent the number of Common Shares to which the holder thereof is entitled as a result of the Consolidation.

It should be noted that the name of the Company is not changing, nor is its trading symbol.

About Baymount

Baymount seeks out and develops opportunities within the horseracing industry. It is the Baymount philosophy to create entertainment destinations for consumers while providing our investors with a vehicle that allows them to participate in the growth of Canadian gaming at racetracks.

Baymount's fifty-percent-owned subsidiary, Belleville Racetrack Development Corporation ("BRDC"), has an agreement with the Belleville Agricultural Society to build a facility to relocate the Quinte Exhibition and Raceway in Belleville, Ontario. QER is one of the 18 racetrack licenses in Ontario eligible to participate in Ontario's Slots-at-Racetracks program. In 2006, the Alcohol and Gaming Commission of Ontario found BRDC suitable to act as Landlord for the proposed OLG gaming premises to be located at the new QER. The Company has also received Preliminary Approval for a License to Operate a Racetrack from the Ontario Racing Commission.

ON BEHALF OF BAYMOUNT INCORPORATED

Graham Simmonds, President & Chief Executive Officer

For additional information please visit the company's website at [ www.bym.ca ].

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.

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.